'I wish I had taken more risks with money over the years': UK expat on her biggest financial regret

Daniella Aschettino, 39, is from the UK. Now in her 11th year in Dubai, the secondary headteacher at GEMS Metropole School in Al Waha calls her father her most trustworthy advisor. Here, she tells wknd.how she balances a lifestyle she loves and her cautious approach to spending.

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

Security.

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

Dear Money, I know I have not always spent you in the wisest of ways, but thank you for helping me live a comfortable life and for enabling me to plan for a comfortable future.

How would you describe your relationship with money?

It’s a cautious one. I wish I had taken more risks with money over the years; being too careful has meant some missed opportunities.

How do you think this relationship was formed?

My parents enjoy the luxuries in life, but they are nevertheless careful and have always taught me the value of money. Growing up, they didn’t have much at all.

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

My mother grew up in a family without much money. She is one of seven children; my grandmother was a seamstress and my grandfather was a factory worker. Because my mother didn’t have many luxuries growing up, she has always encouraged me to be sensible with money but also to enjoy it.

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

I go to my father to talk through anything financial — he is my most knowledgeable and trustworthy advisor when it comes to money. His history as a bank manager, investor, and businessman has always given me confidence that he can help me make the right decisions when it comes to saving, investing, and spending.

What has been the most profound experience you’ve had in relation to money?

I am very glad that I bought property in the UK straight after university; the rental income since paying off my mortgage has been very beneficial as an additional income, which is funding my doctorate studies. A regret I have is not buying more property earlier on in Dubai. I was offered a large amount for a mortgage, and I only took a fraction of it at the time.

How do you think living in the UAE has changed your relationship with and perception of money/wealth?

I compare my wealth to others a lot since being in Dubai, whether it’s those with millions or those with very little; there is a huge spectrum when it comes to wealth in the UAE.

If you could give your child or your younger self one piece of advice about money now, what would that be and why?

Having a baby a few months ago has really shifted my perception of money. Now, my income is split between looking after myself and my daughter, and I enjoy buying things for her more than for myself. The advice I’d give her is the same advice my mother gave me: if you work hard, treat yourself.

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