Financial freedom and independence are powerful motivators, and Ushma Dharod's journey is a testament to that. This Indian expat, hailing from Gujarat, has navigated a path of career pivots and personal growth, ultimately landing in Dubai as an art director.
The Power of Planning
Ushma's story is an inspiring one, especially for those aiming for financial stability. With a simple yet effective strategy, she manages to save or invest a remarkable Dh5,000 each month. But here's where it gets interesting: her approach is all about careful planning and a unique expense management system.
A Savvy Spender's Tale
Ushma's background in a Gujarati Jain family instilled in her the value of saving from a young age. Her first job as a graphic designer paid her 10,000 rupees, and she stuck to a rule she still swears by: saving 50% of her income and living within the remaining 50%.
The Covid lockdown presented a challenge, leading to a job loss. But it also offered an opportunity for reflection. Ushma's interest in beauty led her to start her own organic skincare brand, which, despite a temporary pause due to personal changes, is a testament to her resilience and entrepreneurial spirit.
Wealth Building Strategies
When it comes to growing her wealth, Ushma's approach is diverse. She invests in commodities, stocks, and index funds, and even buys gold bars for tax savings. And while she hasn't ventured into real estate yet, her dream of exploring the world takes precedence.
The Art of Saving
Ushma's saving strategy is an art in itself. She categorizes her expenses into primary, secondary, and 'moody' (for spontaneous purchases). Her biggest expense is rent, at Dh3,000 for a room in Al Jaddaf, followed by taxis, groceries, and miscellaneous expenses. Anything left over is saved or invested, and she even budgets for international travel, a luxury she actively plans for.
A Wise Financial Mind
Ushma's financial wisdom is evident in her belief that it's not about how much you earn, but how well you manage it. She advocates for consistent, small investments as a pathway to long-term security, a mindset that guides her career and financial decisions.
Advice for the Young and Aspiring
For those starting their financial journey, Ushma's advice is simple yet powerful: learn about investing and saving from a young age. Planning is key, and consistency is crucial. Read, research, and seek guidance from those with experience in the field.
Looking Ahead
Ushma's financial goals are ambitious yet achievable. She aims to evolve her career, make more money, and create a secondary income stream. Her long-term dream is to either revive her organic skincare business or launch a new brand in the same sector.
Luxuries and Priorities
International travel and skincare are Ushma's current luxuries, but her focus is on the journey and the experiences that bring her joy.
Ushma Dharod's story is a reminder that financial success is within reach for those willing to plan, save, and invest wisely. Her journey is an inspiration for anyone aiming for financial independence and a fulfilling life.
