Eti Bhasin has carved out a prominent place for herself in the Indian dining scene in the UAE. As the Executive Director of Majestic Hotels and Dhaba Lane Restaurants, the 28-year-old Indian expatriate has forged a strong bond with Dubai, the city where she was born and raised.
If you had to describe money in one word, what would it be? Money is power. This power can be harnessed to start a business, assist those in need, or fulfill personal goals.
If you were to write a letter to money, what would you say? Dear Money, please help those who are fortunate like us to use your resources to serve others.
How would you characterize your relationship with money? Money has not been the primary driving force in my life. I am frugal, and my savings are invested in activities that I find truly meaningful.
How do you think this relationship with money was shaped? My parents worked tirelessly, which taught my brother and me that not everyone is equally blessed with financial power. Therefore, we should always be grateful, content, and ready to help those less fortunate.
What valuable or cautionary lessons about money management did you learn from your mother? My mother has always been satisfied with her modest savings. From her, I learned the importance of contentment and strategic use of resources, contrasting with my father, who is a risk-taker.
Who do you consult about financial matters, and do you consider discussing money a taboo? My father, a certified chartered accountant, holds the reins in most of our business's financial decisions. With his extensive experience, I feel comfortable seeking his advice on both professional and personal financial matters.
Who has been your greatest teacher in financial management? While my bachelor's degree included a course on financial management, it is my father who has imparted the most practical knowledge, particularly in optimizing revenue, minimizing expenses, and understanding key financial ratios.
What has been the most impactful experience related to money, and what did it teach you? I have learned from my father's approach; he thoroughly analyzes potential investments before committing to any business venture.
How has living in the UAE influenced your relationship with and perception of money? The UAE has become increasingly flexible, especially regarding property ownership. Previously, a local sponsor was required for business activities, but now full ownership is possible, enabling aspiring entrepreneurs like myself to pursue their dreams. Additionally, the low tax environment makes business prospects more straightforward.
If you could offer one piece of advice to your child or younger self about money, what would it be? There are no shortcuts to financial success. Hard work and selflessness are key. Spend wisely, as you may need to save for challenging times ahead.
What do you prioritize spending money on? I value spending on new experiences, such as trying out trendy spots or traveling to new cities, and supporting those in need.
What do you consider splurging on? I rarely splurge.
What is your long-term financial goal or dream? My dream is to establish a corporate social entity that supports the underprivileged.
How much do you save each month? I save approximately 60 percent of my monthly income.
What is your greatest financial decision, whether it's the most profitable or the one you're most proud of? I have yet to make it.
What is your biggest financial regret or loss? I have none.
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