'I wish I had taken more risks with money over the years': UK expat on her biggest financial regret

Daniella Aschettino, 39, is from the UK. Now in her 11th year in Dubai, the secondary headteacher at GEMS Metropole School in Al Waha calls her father her most trustworthy advisor. Here, she tells how she balances a lifestyle she loves and her cautious approach to spending.

Security.

Dear Money, I know I have not always spent you in the wisest of ways, but thank you for helping me live a comfortable life and for enabling me to plan for a comfortable future.

It’s a cautious one. I wish I had taken more risks with money over the years; being too careful has meant some missed opportunities.

My parents enjoy the luxuries in life, but they are nevertheless careful and have always taught me the value of money. Growing up, they didn’t have much at all.

My mother grew up in a family without much money. She is one of seven children; my grandmother was a seamstress and my grandfather was a factory worker. Because my mother didn’t have many luxuries growing up, she has always encouraged me to be sensible with money but also to enjoy it.

I go to my father to talk through anything financial — he is my most knowledgeable and trustworthy advisor when it comes to money. His history as a bank manager, investor, and businessman has always given me confidence that he can help me make the right decisions when it comes to saving, investing, and spending.

I am very glad that I bought property in the UK straight after university; the rental income since paying off my mortgage has been very beneficial as an additional income, which is funding my doctorate studies. A regret I have is not buying more property earlier on in Dubai. I was offered a large amount for a mortgage, and I only took a fraction of it at the time.

I compare my wealth to others a lot since being in Dubai, whether it’s those with millions or those with very little; there is a huge spectrum when it comes to wealth in the UAE.

Having a baby a few months ago has really shifted my perception of money. Now, my income is split between looking after myself and my daughter, and I enjoy buying things for her more than for myself. The advice I’d give her is the same advice my mother gave me: if you work hard, treat yourself.

Currently — and this will apply for the next three to four years — I value spending my money on education. I am undertaking an Education Doctorate at University College London.

Designer bags and shoes. These will be my child’s one day, so I see it as an investment.

I see my properties as my long-term investments. I plan to buy another property within the next five years and to have them all paid off by the age of 50.

Moving to Dubai has been great personally, professionally, and financially. I’m most proud of becoming a headteacher at the age of 35. And although no one goes into education for the money, the job has given me a great stepping stone to save, invest, and live a life where I can buy nice things, travel, and prepare for the future.