Katie Fielder is a news anchor for Dubai One’s Emirates News. The Australian, 29, has spent more than 11 years working in the television industry, spending the past six in Dubai interviewing some of the emirate’s leading business figures as well as international celebrities. She is married with a one-year-old son.
Describe your financial journey so far.
Like many expatriates, we planned on saving a lot of money here that would help secure our future. And like many, that hasn’t always happened. Six years of tax-free incomes have certainly helped to boost our savings account, but there’s also been a few temptations along the way. We got married in Australia and then had a church blessing in the UK, have moved house a few times and enjoyed some great holidays.
Are you a spender or a saver?
A little of both … leaning towards the spending side if I’m honest. It’s something that I’ve grappled with at times. I grew up with a comfortable family life, but things were a bit more challenging when my parents separated in my early teenage years. My mum went back to work full-time so that they could send my sister and me to a good school, but I know that because of this, at times it was difficult to afford the weekly food shop. I really appreciate the sacrifices that they made, and it instilled in me both the importance of education and of prioritising your finances. A new pair of shoes is great – and I certainly have a weakness for them – but you have to think about what you really need. It’s also made me determined to protect myself financially. I’m married to a wonderful man but I have always worked and I know that if, God forbid, anything were to happen down the track that I could look after myself and our son.
What is your philosophy towards money?
I’m finally finding that tricky balance between enjoying the present and also saving for the future. As an expat in the UAE, you’re reliant on your employer for a visa so you’re never completely secure. Dubai One’s recent changes have made me more aware of that than ever, and I’m pleased that I have savings to fall back on. My husband, Tom, is much stricter when it comes to saving. He’s owned a number of properties in the UK, so he’s dealt with savings plans and mortgages from a young age.
Have you made any financial mistakes along the way?
I used to have a reasonable understanding of how much money we spent each month, but since I’ve downloaded an app called Pocket Expense which tracks every last dirham that flows in and out of our wallets, we now have a much better understanding of what we spend – and waste – money on. We realised that we were spending more money on shopping and socialising than we should be, and have since cut back a bit. We have also spent far too much time in getting a will. It’s complicated as we need separate wills for the UK, UAE and Australia (Tom is British whereas I am Australian).
If you won Dh1 million, what would you do with it?
Pay off some of our mortgage, go on a safari trip to Africa. I might be able to justify a gorgeous handbag too.
Do you plan for the future?
Getting married and having a baby has made me more focused. I have to think about my family’s wants and needs, and not just my own. We sold our house in the UK a couple of months ago and just bought a house in Sydney.
What has been your best investment?
Our new house. Sydney’s property market is so strong, and I hope we’ve made a good choice in investing there. Interest rates are set to be on hold for the next six to 12 months too.
What do you enjoy spending money on?
Travel. We also entertain quite a lot so I’d probably spend my last few dirhams on great food and drinks for a lazy lunch with friends.
arayer@thenational.ae
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