Ana Seixas is the Middle East franchise owner of the Brazilian shoe brand Galibelle. Her store in Dubai’s Oasis Centre, which opened earlier this year, is the first in the region. Ms Seixas, 33, from Portugal, has lived in Dubai for almost 10 years.
Describe your financial journey so far.
I have always been very careful with my money and, no matter what my salary was, I always managed to put some money aside. Things change when you become an entrepreneur though, with my savings account looking very different now, but when you really believe in something you go after it.
Throughout my life I have always been willing to work as many hours as possible to have extra money. I remember forcing my dad to allow me to have a summer job when I was 15 because I wanted extra pocket money and, later on, being one of the few people at university working part time. It was definitely worth it as by the time I finished my studies I could afford to travel to Mozambique, one of my dream destinations.
Are you a spender or saver?
I am a wise spender and a passionate saver. I am also that annoying person that always has a discount voucher with her. I have a good saving trick that I have learnt from my grandmother. Even now, in her mid-80s, she will put aside €1 (Dh4.5) or €2 for her savings. She says that as she doesn’t drink coffee or smoke, she can put that “vice money” aside for things that otherwise she would think twice of splashing out on.
What is your philosophy towards money?
I wasn’t born into a very wealthy family, but my parents did a great job at managing their money and teaching my brother and I the importance of working hard and saving money. Most importantly, they showed me that money is not everything and that material things are not the source of all happiness, which has been my philosophy ever since. Growing up, I absolutely loved our camping trips throughout Portugal and I don’t even think I would have enjoyed it as much if we were staying in luxurious hotels.
If you won Dh1 million, what would you do with it?
My priority these days is my business, so I would probably inject some of my winnings into being able to expand as well as increase my marketing expenditure. I would love to have a space at Mall of the Emirates or The Dubai Mall. The rest I would probably save for a few rainy days. I’d also ensure that I put some money aside to give back to community, as although it sounds clichéd, I do really believe that when you are blessed with abundance, your happiness multiplies by being able to help others.
What has been your biggest financial lesson?
Being in Dubai as the crisis hit gave me great insight into how the market was not only able to collapse, but bounced back again. I have learnt to appreciate and, to an extent, prefer small but consistent returns over potentially high returns, which have high risks that may end up in disaster. I saw so many families lose everything during the financial crisis and also saw how those who had sufficient cash flow when things were down, are the ones who are reaping the benefits now that the economy is growing again.
Do you plan for the future?
Absolutely. Coming from a European country in which social security is slowly crashing, I’ve become more responsible. I don’t expect to have a government pension plan waiting for me when I retire so I know I need to save in a way that will help me to be self-sufficient. I’m glad I started saving early on in my life.
What do you enjoy spending money on?
Travelling. I may not have a closet full of designer bags but I have a passport full of stamps and I just love that.
lbarnard@thenational.ae
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