My Dubai Salary: 'I set aside 5% of my Dh13,500 earnings to invest in gold'

Muskkan Chelani, who works as a marketing manager at a Dubai-based real estate company, realised she needed to be financially independent at the age of 16 when her family were going through a hard time. She used her enterprise to design and sell event invitations and gradually scaled up her skills to bag freelance content writing jobs . The Indian, 24, is from the city of Jaipur in the western state of Rajasthan. She moved to India from Dubai when she was 10 due to a family emergency and returned to the emirate in 2021 to settle. Ms Chelani studied for a bachelor’s in journalism and mass communication at Manipal University Jaipur and then completed a master's degree at Middlesex University Dubai, where she specialised in corporate and marketing communications . She now lives in Mankhool . I started by selling digital wedding, birthday and event invitations for 500 Indian rupees ($5.90) each. Then I moved on to a content writing internship where I was paid 3,500 rupees, followed by another internship. My first full-time job was as a content writer at a technology company, a remote job during the Covid-19 pandemic, and I was paid 10,000 rupees. I resigned in August 2020 and started freelancing on portals such as Fiverr and Truelancer. I built a recurring clientele. My initial income from freelancing was between 15,000 to 18,000 rupees per month and this later went up to 40,000. Then I moved to Dubai to pursue my master’s degree in 2021 – simultaneously I had a full-time job as a content writer at a real estate company , which paid me Dh5,000 ($1,361) per month. After quitting, I freelanced for a few real estate companies in Dubai and property agents who paid me for personal branding. In 2022, I was recruited by real estate brokerage Hamptons International as a marketing copywriter . I worked with them for a year and a half and earned up to Dh9,000 [a month]. I was promoted to marketing and communications executive in less than a year. Last December, I was hired as a marketing manager by my current employer, which again is a Dubai-based real estate company. I earn between Dh11,000 and Dh13,500 per month, including bonuses and other benefits. I handle the A to Z of marketing in this role, from branding to social media and lead generation. I invest in large-cap stocks for the long term and have mutual fund investments in India. I am new to investing and started stock trading about a year ago. I have a limited portfolio and take guidance from my friends who are knowledgeable about the stock market. I also buy gold occasionally. When bullion prices go down, I invest in gold coins. I also prefer to withdraw money from the bank and keep it aside, rather than saving it in the bank because I tend to spend a lot with Apple Pay . I've also invested in a clothing business in India and am expanding it in Dubai now. My father, who’s 58 and retired last year, is also involved in the business. I am saving for it now and plan to buy a home in India in the next few years. I do not have any significant debts, only credit cards that I pay off in full every month. No. Until my family was in Dubai, I had a very privileged childhood. Even after we moved to India, all my demands were fulfilled. But after I turned 16, things went haywire for my family. That taught me to be financially independent. I've never been a reckless spendthrift, but I grew to become more responsible as the eldest child. I learnt how to manage my finances . Although my parents still paid for my college fees and daily expenses, I wanted to become self-reliant and started selling invitations to make some money for myself. Rent, food and sending money back home. That's not mandatory but I choose to do it since I have invested in the business. I do not lead a very fancy lifestyle. As I do not drive yet, some money goes towards my driving lessons every month. I set aside 10 per cent of what I earn and forget about it. I know 10 per cent of what I earn may look very small but small things make a difference. I also keep 5 per cent of my earnings aside to invest in gold. If I can’t buy gold, I keep this percentage aside in cash. I divide the remainder of my income among my liabilities, bills, credit card payment and remittance. I also budget ahead in case my sister, who’s in college, needs money. I allocate 15 per cent of my salary for travel and leisure every month. This helps cover expenses if my family is visiting me in Dubai. No, I haven't. I haven't thought about retirement since I love working. I want to build a comfortable life where I have the liberty and flexibility to choose if I want to have lunch at the office or come home. I want to build such a work ethic that my employer offers me the flexibility to dedicate certain hours in a day for myself. The 15 per cent of my salary that I keep aside every month is my emergency fund . Once every three months, I go on a leisure outing with my friends. Recently, we've been planning to go on a staycation in another emirate . Yes, I do. Real estate looks like a very glitzy and glamorous business where everyone's making money. But in reality, it’s only the brokers who make money . But no one understands that the marketing department provides leads to close sales. Most companies don't give a commission to us because we are hired to generate leads. We are on a fixed salary structure , while salespeople make probably five to six times the money than a marketing person. The marketing side of the business is often overlooked. I worry that despite putting in so much effort, we do not receive the right financial outcome. But this is a global phenomenon. Although salaries have improved, I still see a lot of real estate companies paying people in my position a four-figure salary. It’s sad to see people being underpaid. Being a member of The Leaders Group, a networking platform where I connect and interact with professionals in my industry, helps to build my contacts. My short-term financial goals are to save money to buy a new car in Dubai and to lead a hassle-free, comfortable lifestyle. My long-term financial goal is to buy a house in India, as well as in Dubai, as I work in real estate. It would be a situation where I'm dependent only on my investments and savings. I want to be relaxed and not constantly think about how much I earn. Always try to save more than 10 per cent of your salary each month. Even if it’s a small amount, it will add up in the long run and help beat inflation. Do you want to be featured in My Salary, a weekly column that explores how people around the world manage their earnings? Write to pf@thenationalnews.com to share your story

My Dubai Salary: 'I set aside 5% of my Dh13,500 earnings to invest in gold'

Muskkan Chelani, a real estate marketer, invests in Indian stocks, gold and a clothing business