Jessica Rooney, aged 32, holds the position of certified financial planner at Hoxton Capital Management, a wealth management firm based in Dubai. As a British expatriate, she has spent nine years in the UAE, where she has acquired her most crucial investment insights. We engaged in a conversation with her to explore her saving and spending habits. If compelled to label money in a single word, she would choose 'Essential.'
In a hypothetical letter to money, Jessica would pen: 'Dear Money, You have played a significant role in my life, shaping numerous decisions and introducing elements of stability, fear, and excitement. I recognize your power and am striving to master it, ensuring you enrich my life without dictating my happiness. I am dedicated to employing you judiciously to construct a balanced and satisfying life. Your existence has guaranteed my never-ending abundance, and for that, I am thankful. Kind regards, Jessica.'
Jessica characterizes her relationship with money as healthy, viewing it as a tool for achieving stability and enjoying life to its fullest, without allowing it to monopolize her existence. This perspective was cultivated through personal experiences and the financial wisdom imparted by her family. Her parents emphasized that money, while important, does not equate to happiness, teaching her to maintain a balance between fiscal responsibility and life enjoyment.
Her mother instilled in her the significance of meticulous budgeting and saving for the future, while also managing to navigate special events without financial strain. Jessica discusses financial matters with her partner, a financial advisor, which proves beneficial. The bulk of her financial management education stems from both personal experiences over the years and her studies for the CISI examinations. Practical application of financial principles has been pivotal in honing her abilities in budgeting, investing, and risk management.
One of the most impactful experiences she recounts is losing money due to insufficient geographic diversification. This incident, occurring when she was younger, underscored the importance of conducting thorough research before making financial choices. Her most significant financial decision was relocating to Dubai, capitalizing on its tax-free benefits. Conversely, her largest financial regret in the early years in the UAE was saving diligently without the requisite knowledge on how to invest effectively, thereby foregoing substantial growth opportunities.
