UAE: Expat who bought a house at 19 shares how the experience shaped money habits

Amanda Herron, 42, has developed a deep relationship with money, “rooted in the principles of prudence and gratitude”. The British primary headteacher at GEMS Founders School in Dubai says money for her is “independence”.

Now after 13 years in the UAE, she says educators must also include financial literacy to help the next generation manage money better.

How would you describe your relationship to money?

My relationship with money is deeply rooted in the principles of prudence and gratitude, always mindful of the journey that brought me here and the lessons learned along the way. Growing up with limited luxuries, I learned early in life that money isn’t just about spending; it’s about making thoughtful decisions that can shape your future.

How do you think this relationship was formed?

My parents were instrumental in forming my relationship with money. They instilled in me the value of earning and saving, ensuring I understood the effort required to obtain what I wanted. This foundation, combined with my entrepreneurial spirit during my teenage years, solidified my respect for money.

In my teenage years, I realised that if I wanted to enjoy certain luxuries, I needed to work for them. By the time I went to university, working 30 hours a week on top of my studies became the norm, reinforcing my understanding of money’s role in achieving independence and security.

What good or bad lessons about money management did you learn from your mother?

From my mother, I learned the importance of frugality and planning. She was meticulous with budgeting and always prioritised needs over wants. The lesson of living within one’s means has been invaluable, though it sometimes made me overly cautious in my financial decisions.

Who do you speak to about money matters and is it something you consider ‘taboo’?

I recognise the importance of open discussions about money in a general sense; and as an educator I value the importance of teaching young people about financial literacy. I do however tend to be discreet about sharing personal financial information and keep discussions concerning personal finances with my close family. This inclination stems from the values instilled in me by my parents.

Who has taught you the most about financial management?

My parents were my first teachers in financial management. However, my experiences and mistakes in early entrepreneurial ventures and part-time jobs taught me practical lessons that were equally impactful.

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