Money & Me: Publicis senior art director learning to save and invest

Growing up in a working-class neighbourhood in France as the grandchild of an immigrant 'wasn't easy', says senior art director Kamel Ajerdi.

Kamel Ajerdi says he has become more of a saver over the years. Antonie Robertson / The National
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Kamel Ajerdi is a senior art director for the global media and marketing company Publicis. The French national of Moroccan origin handles creative campaigns for commercials and print. The 35-year-old moved to Dubai three years ago following stints in Paris and Shanghai.

How did your upbringing shape your attitude towards money?

Growing up in France wasn’t easy as a grandchild of immigrants. I still find it hard. I grew up in a working class neighbourhood. We had some real hard times with my parents, so we had no choice than to be smart about the little money we had. My parents are kind and slightly too generous, so we learnt to never keep things for us, we always had to share. “Money comes and goes,” they would tell us. Later in life, this attitude made it difficult to be smart about saving. It is still difficult a bit but hey, I am getting there.

How much did you get paid for your first job?

My first professional job was in France in 2006. I was paid about €1,000 [per month], the equivalent of about Dh4,000. It is impossible to save or even have a proper life in Paris with this amount. I was a junior copy [writer] for a big American agency.

Are you a spender or saver?

I have my moments. I used to spend all I had, but a few years ago I started to change and become more of a saver. It is important to save, especially if you have plans or have a family, or if you are developing your own business. It is crucial to find a good balance to meet your obligations.

Have you ever had a month where you feared you could not pay the bills?

Yes, especially when I was in Paris. It wasn’t just a month. I had this “famous black year” when I was a freelancer and clients used to take ages to pay me. It was a struggle until the money came; sometimes it came all at once. In such conditions, you are not living any more, you are merely in survival mode.

Where do you save?

For now, here in Dubai in savings account and stocks. The euro is devaluing and the future of Europe is really unpredictable.

Do you prefer paying by credit card or in cash?

Both, but lately I have been using my credit card more. It helps me earn many miles and since I am a big-time traveller, miles are always welcome.

What has been your best investment?

Buying a couple of houses as part of a family investment. We have one house in France and another house in Morocco. I am planning to buy a small place in Paris, perhaps a studio, because it is easier to pay the loan there as the interest rates are so low, at around 1.2 to 1.4 per cent, and the banks are more keen to help lately. Otherwise I have been thinking of buying shares and stocks in European and American markets. But I find the financial jargon a bit confusing – I am learning it slowly.

What financial advice would you offer your younger self?

Save everything and stop being too generous. And invest in stocks – even if it means buying small shares here and there.

Do you have a plan for the future?

Yes, definitely. It is all about creating something major or having new ideas that could be monetised either at work or for a personal venture. My plan is about creating a new business model while keeping a creative profile. For example, I have a few ideas for creating mobile applications that are useful to other people and bring in money at the same time.

If you won Dh1 million, what would you do with it?

I would give some to my parents and invest the rest in Dubai property. I would also take a couple of months off to go on holiday.

What would you raid your savings account for?

For an emergency, or if I have to move to the other side of theworld.

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