Shanti Kumari Bhandari, a 42-year-old Nepalese expatriate who has been living in Abu Dhabi for 10 years, made headlines in Dubai when she started driving tourists around the emirate on Big Bus Tours. She believes that money equates to 'influence.'
If you were to write a letter to money, what would it say? 'Dear Money, you bring both freedom and limitations, along with challenges. People often think you hold the key to happiness, but many realize that the more they have, the less happy they become. Your power is undeniable; you can open doors, provide safety, and create opportunities. Yet, you also stir up greed, inequality, and conflict. You are a tool and a test that reflects people’s values and priorities. Ultimately, you are just a means to an end, not the end itself.'
Shanti describes her relationship with money as practical and straightforward. She respects money for what it enables her to do but understands that life is about more than just chasing it.
Her relationship with money was shaped through years of hard work to make a living, supporting a family, paying bills, and dealing with financial pressures. From her mother, she learned the importance of working hard for every dirham/rupee and saving whenever possible. She was taught to prioritize needs over wants and to always have something set aside for emergencies. However, she also inherited her mother’s tendency to worry about money and sometimes hesitate to spend even on important things.
Shanti usually discusses money matters with close family members or trusted friends. While she doesn’t consider it taboo, she acknowledges that such discussions can be sensitive, so she’s careful about who she opens up to. Her family provided the foundational lessons on saving, budgeting, and living within her means.
The most profound experience she’s had with money was facing a significant unexpected expense. It was challenging and stressful, but it taught her the importance of having an emergency fund. Since then, she’s learned to prioritize savings and plan for the unexpected.
Living in the UAE has made her more aware of wealth and luxury, emphasized the importance of financial planning, and broadened her understanding of money through exposure to different financial practices and cultural attitudes.
If she could give her child or younger self one piece of advice about money, it would be to prioritize saving and investing early. Starting early allows money to grow over time through compound interest, which can make a significant difference in achieving long-term financial goals.
Shanti values spending money on experiences and things that enhance well-being and personal growth, such as travel, education, and quality time with loved ones. She aims to save 20 percent of her income each month based on her budget and goals. The exact amount can vary with her expenses, but she consistently sets aside this percentage to build her emergency fund, save for retirement, and prepare for future needs.
Her biggest financial regret is not starting to save for retirement earlier.
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