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Vidisha Bathwal, 39, is an artisanal gourmet caterer and founder of Paprika Dubai. The Indian expat, who’s been in Dubai for four years, began her career as a hedge fund analyst in London before her love of food led her to the creation of Paprika in Kolkata in 2011. She explains that money to her is a buyer of independence and security.
If you had to use one word to describe money, what would it be?
Affluence/abundance.
Can you describe your relationship with money?
My relationship with money is one of security and being financially independent. I want to hold on to money so that it doesn’t leave me. Since it’s so hard to get, there’s always a feeling that I should have plenty and even more than enough.
How do you think this relationship was formed?
This relationship started when I started my business, the main focus was earning money and supporting myself, even after being a married housewife. I believe everyone should have the financial independence to make their own decisions. This is how it began, and when you see the colour of money (green), you always want it to continue growing.
What lessons about money management did you learn from your mother?
I learned from my mother the importance of always saving and budgeting, especially when money is not coming in frequently. In the initial years of starting my company, Paprika, it wasn’t well-known, so we had to invest without having money coming in. It was crucial not to spend on unnecessary things and to save wisely for business purposes. However, a bad habit I have is impulsive spending, especially when shopping for cutlery.
Who do you speak to about money matters? Is it something you consider ‘taboo’?
I speak to my husband about money matters because we stay in Dubai, and when I need a second or third opinion on how I should invest my money and where I can invest my money. It is not taboo because I think it opens up our minds.
Who has taught you the most about money?
I’ve learned my financial management from my own experiences. When you burn your fingers once or twice, you learn not to repeat it.
What has been your most profound experience in relation to money?
If you are good with money, the money will keep coming to you, and your decisions are the ones that play a big role when you have money or you lose money. For instance, when I worked in London for a hedge fund, I saved up a lot of money. When I came back to India, I decided to start my own business, which made me feel a sense of satisfaction because I didn’t need to borrow money from anyone. This made my father very proud of me as I could start a business all on my own.
How do you think living in the UAE has changed your relationship with money?
The UAE is the land of milk and honey, which creates high standards that should be met. Many people have luxury bags, are well-dressed, go out and are also very welcoming and humble.
If you could give your child or your younger self one piece of advice about money, what would it be and why?
If I could give my younger self or my child a piece of advice, I’d say to spend less money anywhere you go. I’d want my children to know that money doesn’t grow on trees, it’s hard-earned money from their parents.
What is your greatest financial decision? The one you are most proud of or the most profitable one?
In the beginning, I could’ve spent all the money and enjoyed the time of my life when I was working. But instead, I was very mindful and saved all the money and started my business.
What is your biggest financial regret? Or your biggest financial loss?
My biggest financial regret was after I started my business, I made a lot of mistakes in the initial few years that led to unexpected losses but also made me think of what I could’ve done to avoid them. All of the lessons I’ve learned are from my past mistakes.
wknd@khaleejtimes.com
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