UAE: Montenegrin expat shares her secrets to smart money management

Dr. Jelena Janjusevic, 45, spends her life talking about money as head of accountancy, economics and finance at Heriot-Watt University’s Dubai campus. We take out some time to chat with the academic from Montenegro to discover what makes her own financial world tick.

I’ve been in the UAE for almost eight years, and it’s been an exciting journey both personally and professionally. The dynamic environment here offers tremendous opportunities, especially in finance and education.

Freedom.

From my mother, I learned the value of saving and living within my means. She always emphasised on financial discipline and the importance of planning for the future. On the downside, she was quite cautious, and sometimes I think I missed out on learning the balance between saving and taking calculated risks.

I don’t consider money a taboo subject. I speak to financial advisors, colleagues, and close family members about money matters. Open discussions help in making informed decisions and avoiding financial pitfalls.

The most profound experience was making my first major investment. It was a nerve-wracking process, but it taught me the importance of patience, thorough research, and not being driven by emotion. It reaffirmed the power of strategic decision-making in finance.

Living in the UAE has definitely expanded my perspective on wealth. The country’s focus on innovation, luxury, and growth has shown me the importance of wealth in driving economic progress. It also made me more conscious of sustainable wealth creation, rather than short-term gains.

Don’t be afraid to take risks, but always make sure they’re calculated. Money can grow with the right investments and mindset, but impulsive decisions can lead to setbacks.

Yes, I take a structured approach to long-term financial planning. I have diversified investments, a retirement plan, and I continuously reassess my financial goals. Staying disciplined and proactive is key.

I set aside a specific percentage of my income each month based on my financial goals and future plans. It’s not about an exact figure but more about maintaining discipline and ensuring long-term stability.