Dubai: This expat wishes she started saving earlier; here's why

As the general manager of Japanese restaurant Okku Dubai, Marija Milojevic has reached a career high at 34. The Serbian has been in the UAE for 10 years, climbing the hospitality ladder and now leading one of Dubai’s most sought-after dining establishments. Here, she tells us how her humble upbringing has influenced her daily decisions, and how it keeps her grounded, valuing experiences over the material things in life.

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

Freedom.

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

Dear Money, we have had a long, sometimes troubled relationship. You have caused me moments of great joy and great sadness. At times, I’ve felt you were my best friend, at others, my worst enemy. With all that said, I value you greatly. When I’ve needed you, you’ve been there to support. Thank you, I love you.

How would you describe your relationship to money?

I’m not always the most responsible with my money but I don’t squander it either. I value experiences over possessions and most of my disposable income is spent on travel and experiences.

How do you think this relationship was formed?

I grew up in Serbia and it was certainly not a privileged upbringing. Since establishing my own career and earning my own money I’ve realised that whilst money is important, it’s not everything. Living life and getting the most out of it is more important than money in the bank.

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

My mother has always worked exceptionally hard and still does to this day. She is certainly more cautious with money than I am, that’s probably a lesson I’m still to fully learn.

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

I speak very openly with close friends and family about money; it’s certainly not a taboo subject but also not something any of us brag about.

Who has taught you the most about financial management?

I don’t think there is one individual I can point to. My mother, from a cautious standpoint. Friends, those in Dubai particularly, are more relaxed when it comes to their finances. I do read and am interested in stories behind people’s success.

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

There are definitely more outward displays of wealth here than in Serbia. I think when I first arrived I was motivated by that lifestyle. After 10 years I’ve learned that money comes and goes just as fast. I’ve learned to be more sensible, to make sure there is something put aside for a rainy day.

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

Start saving early, even a little each month. The sooner you start, the easier it is to build financial security. When you are young, you don’t look to the future, when the future is upon you, it may already be too late.

What do you value spending money on?

Experiences and travel. I definitely travel and spend more doing so than perhaps I should.