Aya Hassan, a 35-year-old Egyptian PR manager based in Dubai, puts away up to 90 per cent of her monthly salary. She does that by keeping her expenses low and her lifestyle lean.
Ms Hassan began her career 11 years ago and has spent the past three years at her current agency.
She rents in Dubai and collects a monthly income from a property in Sharjah that she owns.
What was your first job and salary?
I began my career here in the UAE around 11 years ago, at a PR agency in Dubai focused on lifestyle. They took me on as an intern for a while and then turned me into a full-time employee. I started with what was the average market rate at the time, which was Dh11,000 a month. It was a really good start for me.
Tell us about your current role and salary
I've been working with my current agency for about three years now. My salary is in the range of Dh18,000 to Dh20,000. I'm happy with it for now, especially as I had a career break. Given the current situation, and the fact that it hasn't changed, I'm very grateful for that.
Why did you have a career break?
As a PR person, you move from one agency to the other – that's just how it is. I joined a marine-based agency for a while. But they didn't pick up well in the market, and the salary was only around Dh8,000, which wasn't good for me. I stayed six months and then I left. The agency isn't around any more anyway, so I think the business model wasn't really a good one to follow.
After that, I took a sabbatical year, which helped me more than anything. I did a lot of travel and took on freelance work during that time. It was sustainable – each project got me around Dh5,000 to Dh6,000 – and since I live alone, with no kids or rent to worry about, it was fine. But it wasn't the same as a proper job, so eventually I decided to join my current agency, and I've been happy ever since.
Do you manage to save?
Yes. I save more than half my salary – I'd say around 85 to 90 per cent of it goes into savings. It helps a lot that I don't have extra expenses to worry about. My rent is covered through my father's work allowance, so I don't have to worry about that. And the house we have in Abu Dhabi is ours, so he doesn't have to worry about rent there either.
I just need to worry about myself. I only really need money for the things I want, like going out and transport.
What do you spend on?
I'm a bit of a shopaholic, so I do spend on clothes – nothing to be proud of, honestly. But I wear modest clothing and it's quite hard to find in shops here, so I used to spend a lot on online stores, which tend to be more expensive.
Do you invest?
Yes, I invest in real estate. With some help from my parents, all of my savings go into property. I've personally bought one property in Sharjah. I hold the golden visa, so if I lose my job or can't get a new one straight away, I'll have my own house and won't have to worry about rent.
Growing up, were you taught how to handle finances?
Yes. My mum is an economics professor, so she's very focused on money, budgeting and planning. We grew up with the mindset that you must have savings. You cannot live without them. I came from a poor background – we've been working our way up in life – so we had this outlook: this is the money you have, and you live accordingly. You don't spend on things that aren't needed. I was 25 before I got my first smartphone, not because I couldn't have one, but just because of the way I was raised.
What are your major monthly expenses?
Most of my expenses are things I've already invested in – instalment plans, insurance and so on. For shopping, food and everything else, it's less than Dh1,000 a month, because I don't really go out much.
For normal living expenses, I won't go beyond Dh3,000 by any means. Unless, once in a while, I want to buy a new phone or a bag that I really love – but that’s not a usual thing.
What are your financial goals?
To be financially sustainable to the point where I don't need to be in debt or borrow money from anyone. I already have a property, but the goal would be to have a house somewhere else too – somewhere like Italy, a place I'd really love to live in without worrying that it's too expensive. And one day, I'd love to own my own business – a flower shop.
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