As a young Emirati, I am proud to call the UAE my home.
My attitude towards money is hugely influenced by my family, my surroundings, the global economic climate and my personal values. I like to think I am sensible about the way I manage my finances and I try to look beyond the immediate future when making decisions about my money.
I was born in the UK to an English mother and an Emirati father, and my family moved back to the UAE in 1997. My education has been based on the British curriculum and I completed my secondary education at Dubai College in 2007. Unlike the UK, it is very difficult to find part-time employment in the UAE if you are under the age of 18, and as a result I have had to rely on my parents to help me out with pocket money.
Coming from Dubai, money is important to me, which is why I have chosen to major in banking and finance as part of my business degree at the American University in Dubai. Continuing into tertiary education in the UAE was convenient, since I can remain in my home country and save money by living at home. But most important, I can continue playing golf.
My tuition fees and study materials are paid for by my parents and cost about Dh54,000 a year, but my other expenses are funded by profits I made from dabbling in the UAE stock market.
I invested in my first stock portfolio a year ago when I was 18. My father gave me the capital to buy stocks, and so far my investment has been profitable. I cashed in all my profits a few months ago and have stopped investing for the moment due to the instability of the market. It is a waiting game, and in this volatile climate I need to remain cautious.
My biggest expense has always been golf. I have been playing since the age of 8, and over the years my parents have spent a serious amount of money on golf clubs, gloves, shoes and club fees - probably more than Dh100,000. I made the cut for the UAE National Team at 14 and have been a member of the team ever since. I became the National Champion during 2005-2007, but was unable to retain my title this year after a close defeat - I lost in the playoff.
I also won two Arab Junior Championships, in 2006 and 2008, and was privileged to receive a special invitation to play in the Dubai Desert Classic in January of this year.
Golf professionals make huge amounts of money, but as an amateur there is no financial reward for winning. For example, winning the Dubai Desert Classic can earn you up to US$350,000, and every tournament winner in America can take home more than US$1 million. The rewards are high, and should I ever make it as a professional, I stand to make a lot of money, which motivates me to continue developing my skills as a player.
I wouldn't say I splurge on anything, but I manage to spend on clothing, eating out and socialising with my friends. I always try to find ways to counteract my spending, either through investing or by selling my old golf equipment on the internet or in golf shops. I can make anywhere from Dh200 to Dh2000 for a golf club, depending on the make.
I have a savings account only, and make all my transactions through ATM machines, and in order to control my spending I won't allow myself to be tempted by credit cards.
Everything in Dubai is so excessive and I'm not sure all the changes are necessarily positive. The population is growing too fast, and it seems like the infrastructure can't cope. The myth that all Emirati families are rich is simply untrue; rising inflation is plunging many local families into financial despair, and this is something that needs to be rectified. I strongly believe in Emiratisation and I don't think that enough is being done to entice Emiratis into the workforce.
The UAE will need to become self-sufficient, as I think we cannot rely on the western workforce to remain here indefinitely. The focus needs to be on training and education.
In 10 years time I hope to either have a good job in a good company in Dubai, either at a bank or other type of financial institution, or start my own financial services business. I would ensure that I employ an Emirati workforce to support the Emiratisation process.
With my degree, and some worthwhile work experience under my belt, the possibilities for the future are endless. I look forward to contributing to my personal success and to that of the country as a whole.
- As told to Inga Stevens
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
THE BIO
Ms Davison came to Dubai from Kerala after her marriage in 1996 when she was 21-years-old
Since 2001, Ms Davison has worked at many affordable schools such as Our Own English High School in Sharjah, and The Apple International School and Amled School in Dubai
Favourite Book: The Alchemist
Favourite quote: Failing to prepare is preparing to fail
Favourite place to Travel to: Vienna
Favourite cuisine: Italian food
Favourite Movie : Scent of a Woman
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
More on Quran memorisation:
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
Off-roading in the UAE: How to checklist
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At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
hall of shame
SUNDERLAND 2002-03
No one has ended a Premier League season quite like Sunderland. They lost each of their final 15 games, taking no points after January. They ended up with 19 in total, sacking managers Peter Reid and Howard Wilkinson and losing 3-1 to Charlton when they scored three own goals in eight minutes.
SUNDERLAND 2005-06
Until Derby came along, Sunderland’s total of 15 points was the Premier League’s record low. They made it until May and their final home game before winning at the Stadium of Light while they lost a joint record 29 of their 38 league games.
HUDDERSFIELD 2018-19
Joined Derby as the only team to be relegated in March. No striker scored until January, while only two players got more assists than goalkeeper Jonas Lossl. The mid-season appointment Jan Siewert was to end his time as Huddersfield manager with a 5.3 per cent win rate.
ASTON VILLA 2015-16
Perhaps the most inexplicably bad season, considering they signed Idrissa Gueye and Adama Traore and still only got 17 points. Villa won their first league game, but none of the next 19. They ended an abominable campaign by taking one point from the last 39 available.
FULHAM 2018-19
Terrible in different ways. Fulham’s total of 26 points is not among the lowest ever but they contrived to get relegated after spending over £100 million (Dh457m) in the transfer market. Much of it went on defenders but they only kept two clean sheets in their first 33 games.
LA LIGA: Sporting Gijon, 13 points in 1997-98.
BUNDESLIGA: Tasmania Berlin, 10 points in 1965-66
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
