Erika Blazeviciute Doyle, the Founder and Managing Director of Drink Dry, has turned her job into her passion. At just 35, this Lithuanian expatriate decided to settle in Dubai with her family in 2019, after frequently visiting since 2008 for her husband’s business. If asked to define money in a single word, she would choose 'empowerment.' Money, she believes, enables one to pursue life’s joys and accomplish what was previously unattainable. It neither alters nor enhances people’s inherent qualities; it merely highlights them. In a hypothetical letter to money, she would advocate for it to reach those in need rather than those who merely desire it. Her relationship with money is one of continuous learning, aiming to leverage her resources to build true wealth. This journey, she notes, evolves with age and life experiences, differing greatly between an 18-year-old and a 50-year-old. Her views on money stem from her life experiences and particularly her upbringing in a working-class family where both parents held multiple jobs to provide a comfortable life, good education, and a nice home. Her father’s frequent advice, ‘I don’t mind spending money but I don’t like wasting it,’ has deeply influenced her. From her mother, she learned the importance of saving for the future, which has shaped her approach to future planning and saving. She actively works on investing these savings to generate passive income. Money matters are not taboo for her; she engages in open discussions about them and includes her children in these conversations to foster respect and confidence around money. Her financial management education comes from her parents and husband. A significant financial lesson came during her student days when she took a credit card with a 500 GBP limit, maxed it out, and faced the challenges of debt repayment. Living in the UAE has broadened her perspective on earning money, freeing her from the conventional ‘9-5’ job mindset. If she could advise her child or younger self about money, it would echo her father’s words: ‘There is nothing wrong with spending money, but it is disrespectful to waste it.’ She saves at least 20 percent of her monthly income but has not set a specific financial goal for her retirement.
Text: Lara Palmer
08.08.2024
Exploring the Life and Financial Insights of Drink Dry's Founder in Dubai