UAE: This British expat's journey to financial freedom started from a leap of faith

She came to Dubai 17 years ago with few belongings and a lot of hope

By Melanie Swan

Published: Fri 1 Nov 2024, 11:58 AM

Kelly Marie Hodgkin is the CEO and business mentor at KMH Events in Dubai. The British expatriate, 38, has been in the UAE for 17 years, calling it a “leap of faith”, which has changed her life.

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How long have you been in the UAE?

I moved to Dubai from Glasgow in 2008, so it will be 17 years in October. I took a leap of faith, sold all my belongings and followed a job offer. Things changed, and I had a month to find something else or go back. I made it work and started my modelling and promotions agency soon after.

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?

Thank you for giving me such wonderful opportunities to live, thrive and give back by supporting the causes I believe in. Thank you for teaching me the value of what my hard work can produce. You showed me that I am in control of my future.

How would you describe your relationship to money?

My relationship with money is healthy. I always remember to appreciate it and practice gratitude for what my hard work has given me. I am sensible with money; I don’t waste it and I make it go far, but I also enjoy it by doing what I enjoy with the people I love.

How do you think this relationship was formed?

I have always had a good work ethic having started work at the young age of 16. I learnt quickly what I needed to do with my money in order to survive, and how important it was to plan and manage it carefully until I got to a point where I wasn’t living month to month but more freely. Even then, that early financial awareness stayed with me.

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

I don’t think I learnt anything bad; she managed our money well, and was never overly frivolous. Growing up in a working-class family, we didn’t have a lot, so she budgeted and was careful, while creating a great life for us with what she had — I learnt how to budget and be cautious while still enjoying life.

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

We speak freely about money as a family. I’ve never found money to be a taboo subject, I like to be open and honest about money, especially when it comes to my children. It can be hard to keep them grounded living in such a wealthy country, but I always find being honest and open with them about people’s different situations and how money impacts our circumstances in life is the best way.

Who has taught you the most about financial management?

I have taught myself these lessons over the years because I wanted to understand how wealth works and feel in control of it personally and professionally. My financial advisor also helps me a lot.

What do you think has been the most profound experience you’ve had so far in relation to money, good or bad, and what has it taught you since?

My most profound experience has probably been my experience as an investor into other companies — the risks, and the highs and lows have taught me a lot about the importance of doing your research and being prepared to lose money.

How do you think living in the UAE has changed your relationship with money?

It has probably made me more grateful for being able to enjoy the finer things in life. It has also taught me the importance of not trying to keep up with everyone else.

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

Work hard and reap the rewards early on. You’re never too young to be successful and to be on top of your game, no matter what anyone else says.

What do you value spending money on?

Holidays with my family.

What do you consider splashing out?

Treating myself to new clothes is quite a treat.

How much do you save each month?

Dh30,000.

wknd@khaleejtimes.com