Nikita Kothari, 34, is the director of operations for a real estate company in Dubai. Her husband started the company, called Skyline International Real Estate, during the 2020 epidemic.
Nikita Kothari has been in Dubai for eight years and lives in Dubai's Cloud Creek Harbor with her family - her husband and a son.
Her family runs a food and jewelry business in India.
What was your first job?
I started working in India before I even graduated. While in college, I started working for an airline. my first salary was INR 15,000 (Rs. 1,304) in 2008-09. I was working with the ground staff and was responsible for conducting training programs.
After that, I worked with Porsche in Delhi for four years. After getting married, I moved to the UAE. I came here on a visitor's visa and it took me three months to get a job. Though I was new to the country, I was determined to find a job that paid well.
My first job in the UAE was as a purchasing assistant in an e-commerce company, where I started with a monthly salary of Dh8,000, which had risen to Dh18,000 by the time I left the company after four years as a purchasing assistant.
Coming from a science background, it was a challenge for me to enter the e-commerce industry. But I never gave up learning new things, I learned a lot and the job exposed me to a lot of things.
What is your current salary?
I work for my husband's company, so I am still an employee. My monthly salary is Dh25,000 and I am the Director of Operations, responsible for designing training programs, recruiting, and also managing accounting and finance.
Do you save and invest?
I invest in gold and a few other assets, I also buy land and property. I try to invest whatever I save.
Where are your properties located?
I purchased a property in Jaipur and listed it on Airbnb. I also invested in a one-bedroom apartment in Downtown Dubai for Dh2 million, which I purchased in 2018 with my own money.
The property I am currently living in Dubai is an investment with my husband.
Do you have any debt?
I don't use credit cards or have any loans at the moment. There are a lot of credit card offers in Dubai to attract shoppers and I fell into that trap before and have been overspending.
I now just prefer to shop with my debit card and cash.
Did anyone teach you how to manage your money?
Yes, my mom would teach me. She was really good at planning as a housewife. She used to save a lot of money and tell us how to invest and what to buy.
How do you plan your expenses?
I always save 50% of my monthly salary. Out of the remaining money, I take out 15% for daily expenses. Then, I use the rest of the money to buy gold every month or every 15 days.
What are your main monthly expenses?
My main monthly expenses are groceries and some supplies for the kids. My husband and I also have a travel account and we go on vacation once a month.
Do you have an emergency fund?
Yes, my emergency fund can support me for 1 year.
Have you started saving for retirement?
I hope to retire at 40. I want to explore the world and spend time with my family.
Are you worried about money?
I don't worry about money, but I do worry about circumstances. I was born into a business family and have been through thick and thin. That's why I want so much to secure a good future for myself and for my family. I don't want to be dependent on anyone.
What are your financial goals?
I want to buy more properties in the next 5 years and earn rental income.
My long term goal is to buy a farmhouse in India, I have contacted real estate agents and am looking for a good plot of land where I would like to live afterwards.
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