Lucy Bradley, 49, the founder of Plug Communications in Dubai, has been in the UAE for 21 years. The British expatriate continues to maintain her grounded approach despite the allure of material wealth. Here’s how she manages it:

If you had to use one word to describe money, what would it be? Fallacy. If you had to write a letter to money, what would you say? Someone has already penned it in a song — Abba’s 'Money, Money, Money.' It encapsulates the struggle when resources are scarce and how we envision the bliss of being wealthy, even though we know wealth won’t resolve all our issues.

How would you describe your relationship with money? Sometimes, I prefer to save it, and other times, I enjoy spending it. Living in Dubai, money is crucial due to the high cost of living. Nothing comes for free. As a business owner and a parent, I am aware that I need to generate a certain income to ensure my staff are compensated and my children’s school fees are covered. Dubai is a fantastic place to reap the benefits of hard work, but there’s always that underlying pressure.

How do you think this relationship with money was shaped? Growing up, I didn’t always have enough money to do everything I wanted. I had a paper round and a Saturday job, which taught me the value of earning money myself. Once I had my own income, I would save up and then splurge on something. I relished being in control of my spending.

Who do you discuss money matters with, and is it something you consider taboo? Money matters have always felt very personal to me. I never really discussed it with anyone until I moved to Dubai and met a financial advisor.

What do you think has been the most profound experience related to money, and what has it taught you? I believe it was when I had my son 10 years ago. Suddenly, I had to consider someone else and plan my finances for the future, including retirement. These are all things that often keep me awake at night. Managing a business and ensuring cash flow is another profound experience that taught me running a business is about more than just doing what I love; it’s a financial responsibility.

How do you think living in the UAE has altered your relationship with money? Dubai is an expensive place to live, and many people here flaunt their wealth. I try to resist that temptation and maintain a balanced approach to money. However, I think we all succumb to it occasionally because wealth is intrinsically linked to success in our society. Many people earn higher salaries here or secure jobs that would be harder to get in their home countries, leading to more disposable income. You also hear a lot about people getting into debt.

If you could give your child or younger self one piece of advice about money, what would it be and why? Start saving as early as possible, even if it’s just a few dirhams. It’s crucial to develop that habit so it becomes second nature.

What do you value spending money on? My biggest expenditure is on ballet. I take private lessons four or five times a week and have become somewhat obsessed with it. I only started a couple of years ago and managed to master pointe at 47.

Do you plan your finances for the long term, and if so, how? I save every month and contribute to a regular savings plan. I have a savings plan for my son, which I will give him when he turns 21… or 25, depending on how responsible he is.

What is your long-term financial goal or dream? To retire at 65 with enough funds to travel and watch ballet performances around the world.

How much do you save each month? Approximately 20 percent of my salary.

What is your greatest financial decision? The best investment I made in my business was about six years ago with a business coach named Blake Sergeant. He guided me on how to grow my business, including educating other business owners on marketing strategies. It was a significant turning point, and I realized the absolute best investment is in oneself.

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