Jennie Stallings, partner at the furniture company ChelseaGreen, believes in paying herself first. By that, she means setting money aside for her savings, investments and retirement before spending on her wants.
The American, 48, studied interior design in Dallas and worked in high-end residential interior design for a few years in the US.
She also started her own interior design business in the early 2000s.
Ms Stalling moved to Dubai in 2006 with a one-way ticket and her cat, Winston.
She worked in the commercial furniture sector and spent eight years with US company Herman Miller.
She has more than 25 years’ experience across the US, Middle East and Africa as an ergonomic specialist, wellness consultant, residential and commercial interior designer, and trainer.
“I started a business called Be Well. Unfortunately, the timing wasn't fabulous since it was right before Covid. It never had a chance to get off the ground,” Ms Stallings says.
“I then started working with ChelseaGreen as a partner and commercial manager two-and-a-half years ago.”
She lives with her Scottish husband, who owns an oil and gas business, and five cats in Umm Suqeim 3, in Dubai.
Did wealth feature in your childhood? What did you learn from it?
Money was present in a very understated way. I was taught the value of $1 from a very young age.
We were a middle-class family, and my father was in the military. Although money was discussed, it was never a dinner table conversation, but we had what we needed.
We earned an allowance from a young age doing chores around the house, but it was always understood that if there were things that you wanted outside of what you needed, then you paid for them yourself.
I wanted pink Reebok High Tops sneakers and my mother refused to buy it for me. I saved the money, but when I went to buy them, I saw an off-brand version of the same shoe, but for significantly less, like 50 per cent less, and I bought it.
I learnt that brands are not the be-all and end-all. When it's a trendy item that’s disposable, buy the off-brand. When it's something that will be well-used, then spend more money and buy something that will endure the test of time and have longevity.
How did you first earn? What did your first job pay?
My first job paid me $7 a week. My dad decided that he didn't want to mow our yard anymore, so he went to hire the neighbourhood boy to do it.
He charged $8 a week to mow the yard. I offered to do it for $1 less per week. I secured the job of mowing our family yard for the next seven years.
Any early financial jolts?
Financial setbacks didn't happen until I was in university, when I had to pay a student loan.
I lost a scholarship because I changed my major from art to interior design. I needed to supplement my income so I could pay for my schooling.
For most of my undergrad, I worked two jobs and an internship to pay for what the scholarships or grants didn't cover.
How do you grow your wealth?
I work very hard. I've always been very independent, hardworking and diligent.
For the last two-and-a-half years, I've also reinvested in our business because I believe in it.
I've always had a retirement plan. I started my retirement investments when I was 22. I've carried that on in various ways, some are sort of slow burns.
I don't do anything that’s overly aggressive, but I reinvest in myself, whether it's in my business, my home and family, or into steady retirement.
I always believe that when you get a pay cheque, you pay yourself first and pay for your retirement.
Are you a spender or a saver?
A little bit of both. I believe that we should enjoy our lives. We live in a wonderful part of the world, and it makes travel a lot easier and accessible.
But I pay myself first. I pay into my retirement and savings, so there’s always money for the rainy day.
We live free of debt. My credit card gets paid off every month. For the first time in my life, I have a car loan now. I've been driving for 33 years.
Have you been wise with money?
For the most part, yes. I'm not somebody who reacts when it comes to financial things. I don’t make rash decisions.
Because of thinking things out, I've been more fortunate, but I still take risks. I've taken calculated risks, and some that have not paid off.
As I get older, I've become wiser. I have neither been reckless nor too reserved.
What has been your best investment?
Besides myself and my business, I made a decision many years ago to invest in good and beautiful furniture, things that I live with and will have for the rest of my life.
I think it's important to surround yourself with things that are meaningful and sustainable.
I've always had a retirement plan. I started my retirement investments when I was 22
Jennie Stallings,
partner, ChelseaGreen
I invest in my education as I want to learn more, so that I grow as an individual, business owner and manager and am able to learn, mentor and be better at whatever I do.
Any cherished purchases?
One thing that I had wanted from the first time I saw one in a museum in Dallas in the late 90s was an Eames LCW [Lounge Chair Wood] moulded plywood chair.
When I worked for Herman Miller, I was able to save to purchase a pair of them. I keep them close at hand. I see one when I wake up, and the other one in my home office.
They are long-cherished iconic pieces that when I was able to afford them, I was grateful. I took advantage of my employee discount to buy them.
How do you feel about money?
I like to earn it, work hard for it, but don't like talking about it.
I find it uncomfortable speaking about money because it was not a topic of conversation growing up. It wasn't taboo.
You just don’t talk about finances, maybe it's an American thing. You don't talk about the rent you pay or how much your car cost.
I find it to be a very private thing. I remember the first time somebody here asked me: ‘What do you pay for rent for your flat?’ I was horrified.
Any financial advice for your younger self?
Take higher financial risks in terms of investment. I was a little old for my age when I was younger.
I didn't take the same higher risks that I should have in my 20s and 30s, that aren’t the wisest to be making in my late 40s.
Any key financial milestones?
Saving money to start my business in Dubai in 2019.
I remember the day I put down money for my trade licence. I was able to do everything in cash.
What luxuries are important to you?
The luxuries within my home. I have a rug collection, a furniture collection and I love beautiful art.
I wouldn’t say anything is enormously valuable to anybody else, but the fact that I get to surround myself with beautiful things is incredibly luxurious to me.
What are your financial goals?
I would like to be able to financially retire by the typical retirement age. But I hope I have the energy and youth to keep carrying on for at least another 20 years after that.
I don't want to ever retire. My dad is 88 and still going strong. My mother is 78 and teaches yoga. Part of it is because they have always worked and keep their minds and bodies busy.
Recipe
Garlicky shrimp in olive oil
Gambas Al Ajillo
Preparation time: 5 to 10 minutes
Cooking time: 5 minutes
Serves 4
Ingredients
180ml extra virgin olive oil; 4 to 5 large cloves of garlic, minced or pureed (or 3 to 4 garlic scapes, roughly chopped); 1 or 2 small hot red chillies, dried (or ¼ teaspoon dried red chilli flakes); 400g raw prawns, deveined, heads removed and tails left intact; a generous splash of sweet chilli vinegar; sea salt flakes for seasoning; a small handful of fresh flat-leaf parsley, roughly chopped
Method
▶ Heat the oil in a terracotta dish or frying pan. Once the oil is sizzling hot, add the garlic and chilli, stirring continuously for about 10 seconds until golden and aromatic.
▶ Add a splash of sweet chilli vinegar and as it vigorously simmers, releasing perfumed aromas, add the prawns and cook, stirring a few times.
▶ Once the prawns turn pink, after 1 or 2 minutes of cooking, remove from the heat and season with sea salt flakes.
▶ Once the prawns are cool enough to eat, scatter with parsley and serve with small forks or toothpicks as the perfect sharing starter. Finish off with crusty bread to soak up all that flavour-infused olive oil.
COMPANY PROFILE
● Company: Bidzi
● Started: 2024
● Founders: Akshay Dosaj and Asif Rashid
● Based: Dubai, UAE
● Industry: M&A
● Funding size: Bootstrapped
● No of employees: Nine
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
3%20Body%20Problem
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UAE’s revised Cricket World Cup League Two schedule
August, 2021: Host - United States; Teams - UAE, United States and Scotland
Between September and November, 2021 (dates TBC): Host - Namibia; Teams - Namibia, Oman, UAE
December, 2021: Host - UAE; Teams - UAE, Namibia, Oman
February, 2022: Hosts - Nepal; Teams - UAE, Nepal, PNG
June, 2022: Hosts - Scotland; Teams - UAE, United States, Scotland
September, 2022: Hosts - PNG; Teams - UAE, PNG, Nepal
February, 2023: Hosts - UAE; Teams - UAE, PNG, Nepal
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
FIXTURES
Thu Mar 15 – West Indies v Afghanistan, UAE v Scotland
Fri Mar 16 – Ireland v Zimbabwe
Sun Mar 18 – Ireland v Scotland
Mon Mar 19 – West Indies v Zimbabwe
Tue Mar 20 – UAE v Afghanistan
Wed Mar 21 – West Indies v Scotland
Thu Mar 22 – UAE v Zimbabwe
Fri Mar 23 – Ireland v Afghanistan
The top two teams qualify for the World Cup
Classification matches
The top-placed side out of Papua New Guinea, Hong Kong or Nepal will be granted one-day international status. UAE and Scotland have already won ODI status, having qualified for the Super Six.
Thu Mar 15 – Netherlands v Hong Kong, PNG v Nepal
Sat Mar 17 – 7th-8th place playoff, 9th-10th place playoff
FIGHT%20CARD
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UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
MATCH INFO
League Cup, last 16
Manchester City v Southampton, Tuesday, 11.45pm (UAE)
COMPANY PROFILE
Company name: SimpliFi
Started: August 2021
Founder: Ali Sattar
Based: UAE
Industry: Finance, technology
Investors: 4DX, Rally Cap, Raed, Global Founders, Sukna and individuals
Results
5pm: Al Maha Stables – Maiden (PA) Dh80,000 (Turf) 1,600m; Winner: Reem Baynounah, Fernando Jara (jockey), Mohamed Daggash (trainer)
5.30pm: Wathba Stallions Cup – Maiden (PA) Dh70,000 (T) 1,600m; Winner: AF Afham, Tadhg O’Shea, Ernst Oertel
6pm: Emirates Fillies Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Ghallieah, Sebastien Martino, Jean-Claude Pecout
6.30pm: Emirates Colts Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Yas Xmnsor, Saif Al Balushi, Khalifa Al Neyadi
7pm: The President’s Cup – Group 1 (PA) Dh2,500,000 (T) 2,200m; Winner: Somoud, Adrie de Vries, Jean de Roualle
7.30pm: The President’s Cup – Listed (TB) Dh380,000 (T) 1,400m; Winner: Haqeeqy, Dane O’Neill, John Hyde.
Know your camel milk:
Flavour: Similar to goat’s milk, although less pungent. Vaguely sweet with a subtle, salty aftertaste.
Texture: Smooth and creamy, with a slightly thinner consistency than cow’s milk.
Use it: In your morning coffee, to add flavour to homemade ice cream and milk-heavy desserts, smoothies, spiced camel-milk hot chocolate.
Goes well with: chocolate and caramel, saffron, cardamom and cloves. Also works well with honey and dates.
Dunki
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Sri Lanka's T20I squad
Thisara Perera (captain), Dilshan Munaweera, Danushka Gunathilaka, Sadeera Samarawickrama, Ashan Priyanjan, Mahela Udawatte, Dasun Shanaka, Sachith Pathirana, Vikum Sanjaya, Lahiru Gamage, Seekkuge Prasanna, Vishwa Fernando, Isuru Udana, Jeffrey Vandersay and Chathuranga de Silva.
Moral education needed in a 'rapidly changing world'
Moral education lessons for young people is needed in a rapidly changing world, the head of the programme said.
Alanood Al Kaabi, head of programmes at the Education Affairs Office of the Crown Price Court - Abu Dhabi, said: "The Crown Price Court is fully behind this initiative and have already seen the curriculum succeed in empowering young people and providing them with the necessary tools to succeed in building the future of the nation at all levels.
"Moral education touches on every aspect and subject that children engage in.
"It is not just limited to science or maths but it is involved in all subjects and it is helping children to adapt to integral moral practises.
"The moral education programme has been designed to develop children holistically in a world being rapidly transformed by technology and globalisation."
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
Padmaavat
Director: Sanjay Leela Bhansali
Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh
3.5/5
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
