As the wellness industry flourishes globally, Moroccan expat Imane Belhabes has carved out her own space in the UAE with WellnessWonderz, a fitness subscription box venture. The 38-year-old Dubai resident reflects on her decade in the emirate, noting how she’s learned to wield money as a tool to achieve both business and personal ambitions.
What would you express in a letter to money?
Dear Money, although you’re not everything, you certainly simplify life. I wish I understood you better to enhance our relationship.
How would you describe your relationship with money?
I’ve always had a complex relationship with money. While not a lavish spender, I’ve struggled with understanding optimal spending. It’s often accompanied by anxiety, leading to a persistent undercurrent of fear.
How do you think this relationship was formed?
It largely stems from cultural influences. Growing up, discussing money openly was taboo, especially for women. My financial education was limited to the typical “always save, just in case” advice from my parents.
What financial management lessons did you learn from your mother?
The most valuable lesson was ensuring I always have savings “just in case.” Additionally, the belief that real estate is the only solid investment was ingrained in us. Now, I’m aware of various other investment opportunities.
Who do you discuss financial matters with?
Interestingly, my husband finds it easier to discuss money than I do, due to my upbringing in a culture where money talk is taboo. I’m actively working on changing this.
Who has influenced your financial management skills the most?
My parents, by encouraging savings and investment, even if it was primarily in real estate. I observed their financial management within our family of five, despite the lack of direct discussions.
What has been your most significant money-related experience, and what has it taught you?
Launching WellnessWonderz, which is entirely self-funded, was profoundly enlightening. It reshaped how I perceive earnings, prioritizing business investments over unnecessary spending like shopping or travel.
How has living in the UAE altered your money relationship?
Residing in the UAE has underscored the significance of saving as a means to accomplish goals.
If you could offer your child or younger self one piece of financial advice, what would it be?
Begin investing in diverse avenues early and start saving sooner than I did.
What do you value spending money on?
I treasure spending on experiences, like travel and gifts for loved ones.
What does splurging mean to you?
Indulging in a luxurious hotel stay or a Michelin-starred dinner.
Do you engage in long-term financial planning?
I’m in the process of learning about long-term financial planning. It’s a journey.
What is your long-term financial aspiration?
To pay off my home mortgage and own a property in the UAE, perhaps in Ras Al Khaimah.
What percentage of your income do you save monthly?
15-20 percent.
What is your financial target for age 65?
I aim for a net worth of $20 million (Dh73 million) by then.
What is your greatest financial decision?
I have yet to make that decision.
