Dubai-based Lebanese expat on money matters: 'Save first, spend later'

At just 39, Zeinab Majed is the assistant principal at GEMS Al Barsha National School. The Lebanese expatriate has been in the UAE for 16 years. Based in Dubai, she sees money as a tool to facilitate a better life.

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

Money is a tool.

If you had to write a letter to money, what would you say?

Dear Money, I know your ego is soaring high these days, with everyone chasing after you. I’m not sure if I should blame you or the society that has elevated you to this exalted status. But it’s undeniable that you hold a power over us that shapes our lives in profound ways.

How would you describe your relationship to money?

I would describe it as pragmatic and respectful. Money is a tool that facilitates various aspects of life, such as meeting basic needs, pursuing goals, and ensuring security. I strive to manage it wisely, balancing its practical utility with maintaining a healthy perspective on its role in life.

How do you think this relationship was formed?

This relationship evolved from starting work at 19 while studying, when I understood early on that money is a tool to achieve my goals, nothing more. Over nearly two decades of working and reflecting daily, I’ve found my belief holds true: pursuing money as a goal alone doesn’t bring satisfaction. In my view, true happiness isn’t about being surrounded by wealth, but using money to create joyful memories that make us smile when we reminisce.

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

I was fortunate to grow up in a generous and financially stable family. I learned invaluable lessons in money management from my mother. She taught me the importance of being prudent with spending and making wise financial decisions. Rather than pursuing fleeting purchases, she emphasised investing in quality items that would last — a philosophy focused on durability and long-term value. This approach not only instilled a sense of responsibility in managing finances but also encouraged me to prioritise lasting benefits over short-term gratification. Her guidance continues to shape my approach to money, fostering a mindset that values sustainability and thoughtful expenditure.

Who do you speak to about money matters ?

I believe open communication about money is essential for personal financial health. I discuss money matters primarily with my family members and close friends whom I trust when seeking guidance on investments or planning for the future. I don’t consider money a taboo topic; rather, I view it as a practical aspect of life that warrants thoughtful discussion and sharing of experiences to learn and make informed decisions.

Who has taught you the most about financial management?

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