“We suffer more often in imagination than in reality,” – Seneca.
Picture this: Malcolm Gladwell, the renowned author and social scientist, is on the radio chatting about one of his books. The host asks a question about how he handles long queues at the supermarket checkout. While the host admits to getting frustrated after a couple of minutes, Gladwell's response is unexpected.
His answer of being unbothered by queue length leaves the host baffled.
Confused, the host presses on, trying to understand how anyone can be unaffected by waiting in a line, wondering if Gladwell values his time.
However, Gladwell simply replies, “You and I live in different universes, man.”
Same situation, wildly different reactions. Why? The answer is that it's all down to their beliefs about queues.
This scenario reflects how we respond to financial events as we all have different “Money Scripts” – beliefs about money that drive our behaviours.
Let's dive into the ABC model, developed by psychologist Albert Ellis. It's a simple yet powerful way to understand behaviour:
A – Activating event (something happens)
B – Belief about the event
C – Consequence (our behaviour, feelings, and emotions)
Often, we think events directly lead to consequences (A to C). But the magic lies in recognising that B – our beliefs – sits between A and C.
“Between stimulus and response lies a space. In that space lie our freedom and power to choose a response,” wrote Holocaust survivor Viktor Frankl.
When it comes to personal finance, the B in our ABC model represents our money scripts, which typically fall into four categories:
1. Money avoidance: Money is bad and should be avoided
2. Money worship: More money will make life better
3. Money status: Money indicates success
4. Money vigilance: Money should be saved, not spent
You might wonder where these beliefs come from. Well, you're the sum of your experiences. As you grew up, you pieced together how money works, its rules, and how to talk about it. You internalised these beliefs and act on them as if they're facts.
But here's the thing – everyone has a different upbringing, so everyone has different beliefs.
However, the trouble is that in our minds, these beliefs are not recognised as beliefs. We register them as facts and we never challenge them.
This raises the question then how can we make better decisions? The answer is that we need to become aware of the story we're telling ourselves – the financial beliefs driving our behaviour.
This is where we can add a 'D' to our ABC model: Disputing your beliefs.
Next time you're faced with a financial situation, try to spot your money script at work
Sam Instone,
co-chief executive, AES
Ask yourself:
- Is the story I'm telling myself true?
- Can I come up with an alternative explanation?
- If my best friend came to me with this scenario, what advice would I give?
By challenging these beliefs, we open ourselves up to new perspectives.
Money scripts limit our behaviour. The stories we subconsciously make up restrict what we will and won't do in our financial lives. Learning to understand and challenge these subconscious beliefs can expand our behaviour, helping us choose our responses and live more intentionally.
The first step is awareness. Once we realise we have subconscious beliefs driving our behaviour, we can get curious about the stories we're telling ourselves. This openness allows us to question our automatic thoughts and beliefs, paving the way for behavioural change.
Remember the supermarket queue scenario? It perfectly illustrates how different beliefs lead to different reactions.
Next time you're faced with a financial situation, try to spot your money script at work. Are you avoiding, worshipping, idolising or being vigilant with your money?
By recognising these patterns, you can start to challenge them. Maybe that impulse purchase isn't about the item itself, but a belief that more stuff will make you happier. Perhaps your reluctance to invest stems from a belief that money should always be saved, never risked.
Understanding your money scripts doesn't mean you have to change them all. Some might serve you well.
The goal is to make your financial decisions more conscious, more aligned with your true values and goals, rather than unconscious reactions to deeply held beliefs.
So, next time you're stuck in a queue (financial or otherwise), remember Gladwell. Your reaction isn't inevitable – it's a choice. And with awareness of your beliefs, you have the power to make different choices, leading to different outcomes.
In the end, changing your financial beliefs isn't about becoming a different person. It's about becoming more you – more aware, more intentional, and more in control of your financial life. And that's a queue worth joining. Don't you think?
Sam Instone is co-chief executive of wealth management company AES
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
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Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Teaching in coronavirus times
MATCH INFO
Uefa Nations League
League A, Group 4
Spain v England, 10.45pm (UAE)
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
'Saand Ki Aankh'
Produced by: Reliance Entertainment with Chalk and Cheese Films
Director: Tushar Hiranandani
Cast: Taapsee Pannu, Bhumi Pednekar, Prakash Jha, Vineet Singh
Rating: 3.5/5 stars
More from Rashmee Roshan Lall
Read more from Aya Iskandarani
THE BIO
Favourite place to go to in the UAE: The desert sand dunes, just after some rain
Who inspires you: Anybody with new and smart ideas, challenging questions, an open mind and a positive attitude
Where would you like to retire: Most probably in my home country, Hungary, but with frequent returns to the UAE
Favorite book: A book by Transilvanian author, Albert Wass, entitled ‘Sword and Reap’ (Kard es Kasza) - not really known internationally
Favourite subjects in school: Mathematics and science
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
KILLING OF QASSEM SULEIMANI
Results
United States beat UAE by three wickets
United States beat Scotland by 35 runs
UAE v Scotland – no result
United States beat UAE by 98 runs
Scotland beat United States by four wickets
Fixtures
Sunday, 10am, ICC Academy, Dubai - UAE v Scotland
Admission is free
Three tips from La Perle's performers
1 The kind of water athletes drink is important. Gwilym Hooson, a 28-year-old British performer who is currently recovering from knee surgery, found that out when the company was still in Studio City, training for 12 hours a day. “The physio team was like: ‘Why is everyone getting cramps?’ And then they realised we had to add salt and sugar to the water,” he says.
2 A little chocolate is a good thing. “It’s emergency energy,” says Craig Paul Smith, La Perle’s head coach and former Cirque du Soleil performer, gesturing to an almost-empty open box of mini chocolate bars on his desk backstage.
3 Take chances, says Young, who has worked all over the world, including most recently at Dragone’s show in China. “Every time we go out of our comfort zone, we learn a lot about ourselves,” she says.
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
FA%20Cup%20semi-final%20draw
%3Cp%3ECoventry%20City%20v%20Manchester%20United%C2%A0%3C%2Fp%3E%0A%3Cp%3EManchester%20City%20v%20Chelsea%3C%2Fp%3E%0A%3Cp%3E-%20Games%20to%20be%20played%20at%20Wembley%20Stadium%20on%20weekend%20of%20April%2020%2F21.%C2%A0%3C%2Fp%3E%0A
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
SHOW COURTS ORDER OF PLAY
Wimbledon order of play on Tuesday, July 11
All times UAE ( 4 GMT)
Centre Court
Adrian Mannarino v Novak Djokovic (2)
Venus Williams (10) v Jelena Ostapenko (13)
Johanna Konta (6) v Simona Halep (2)
Court 1
Garbine Muguruza (14) v
Svetlana Kuznetsova (7)
Magdalena Rybarikova v Coco Vandeweghe (24)
First Person
Richard Flanagan
Chatto & Windus
Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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5
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Norway
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6.
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
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