Brazilian-Swiss expat: 'Money is a great servant, but a terrible master'

Julia dos Santos talks about her relationship with money

By Melanie Swan

If you had to use one word to describe money, what would it be?

An enabler.

How would you describe your relationship with money?

My relationship with money has evolved from thinking it is elusive and hard to predict and tame, to a resource that I can learn about and put to use without fear, as long as there is the right planning and pacing. A phrase I really like is “Money is a great servant, but a terrible master.” I think it speaks to taking the reins over money and not allowing it to be something that dominates our life, emotions and ambitions, but rather as a resource that can be put to work in our favour.

Who do you speak to about money?

My father is my counsellor. He sits with me and helps calculate things. I will never forget the time we were on JBR beach, and he was giving me a quick intro to investing, drawing out a roadmap on the sand with his finger. There’s no shame in having money challenges. What’s shameful is earning money dishonestly or valuing it above all things.

Who has taught you the most about financial management?

I have got great insights from certain sources, like HerFirst100K. It’s such a great Instagram account that has great tips. The Netflix series How to Get Rich teaches a lot of interesting concepts about personal finance, and argues that having a “rich life” has nothing to do with volume of your bank account, but is more about outlining what is important and fulfilling for you, and planning your finances to support that. Sophiawomen.com takes you through your money mindset, habits, key concepts of financial literacy in a way that is interactive.

What has been the most profound experience you’ve had so far in relation with money?

The most profound experience was when I was a student. I was tight on money and running late on my phone and Internet bills. I was planning on going the next day to the telecom shop to see if I had incurred any fees and ask for a potential extension. That night, I had ordered a pizza, and the delivery person gave me way too much change. I gave it back, and he was extremely grateful. The next day when I got to the telecom shop, I had not only had not received a late fee, but was informed there was a random credit in my account from two years before that covered my current bill. I was so amazed! For me, it was just proof of the importance of doing the right thing.

How has living in the UAE changed your relationship with money?

The UAE is the ‘land of possibility’ and it has definitely increased my income and living standards. If you surround yourself with right people it’s a wonderful place to grow. If you look around and talk to people from the varied backgrounds, there are so many inspiring stories that help us value what we have.

How much do you save each month?

As soon as I get any earnings, I set aside 10 per cent towards tithing (offer dedicated to the church), and 10 per cent towards savings. In months where I can put a bit more, I do that too.

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