If there’s anything I am most grateful for as a millennial, it’s that we are living in a time of abundant opportunities. The likes of Mark Zuckerberg and Evan Spiegel prove that becoming not only a millionaire, but even a billionaire isn’t completely impossible, but rather achievable through innovative ideas, persistence and dedication.
The point is, no entrepreneur is too young to become wealthy. With the right information and techniques, you could be on your way to becoming rich before your 30th birthday. I know this because I have personally put this plan to use since I was 20 and I am glad to report that I have achieved my target and am living comfortably now as a result.
1. Create a budget
I adopted this strict approach during my college years in the UK. Basically, if you want to become rich, you have to have a plan. Having a budget allows you to live mindfully, and to see where your money goes. Instead of spending unwisely like I did when I was 18 and 19, going on shopping sprees whenever I desired, I slowed down and was strict with myself. I set aside money to spend throughout the month, an amount in case of unexpected emergencies, and the rest went into my savings.
2. Have multiple sources of income
You have a salary, or the income you receive from your business? Good. But don’t just depend on that. Look for ways to earn more money. I’m blessed to have multiple talents, so I put them to use. I had a fashion line, earned money from my writing, and put my communication and creative skills to use by establishing a consultancy. I also wrote a novel and held educational courses and consultation sessions.
Finding more than one way to earn an income is crucial to becoming wealthy. This is where you need to see how you can utilise your talents and credentials to earn more income. If you are an excellent graphic designer, perhaps it’s time to go down the freelance route. If you are a talented photographer, maybe you should get in touch with events coordinators and see if you can photographer their events?
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3. Invest in a passive source of income
Being proactive and looking for multiple sources of income is great, but think of another way to generate some passive income. Maybe you can invest in a real estate property instead of your savings just sitting in your account. Or, something I found to work well, you can sell educational materials, books and access to online workshops in your area of expertise.
Other approaches which require a small amount of investment are an online store or renting your holiday home.
4. Find a money-minded mentor
We have a saying in Arabic that goes, “Tell me who your friends are, and I’ll tell you who you are”. As you grow your business and accumulate your wealth it’s important to have an experienced mentor around who will help keep you in track. Choose someone from your field who has achieved what you are striving for so that you are always inspired.
In my case, my mentor not only helped guide me to establish a business that I would enjoy and be passionate about, but he also helped me avoid many mistakes that start-up entrepreneurs make and encouraged me to focus on income-generating areas of my business that I should invest my time in. For this, I owe him a lot.
5. Invest in upgrading yourself
You are what’s going to get you to where you want to go. In order to make the best of the opportunities presented to you, you need to continually invest in yourself.
Evaluate your talents and constantly see how you can maximise your potential. Education is a never-ending process. This means reading, signing up to seminars, webinars, challenging yourself to learn new things, and attending events with like-minded individuals and potential customers who will help you reach your targets.
I make it a mission to read and learn something new every day. This has helped me realise new business opportunities and interact with amazing individuals who have helped me reach my goals.
Is this it for me now that I’ve reached the target I set for myself? No. I’m now working towards even bigger goals, and I know that continuing to have this mind-set and applying these techniques will make reaching them even easier.
Manar Al Hinai is an award-winning Emirati entrepreneur, who manages her creative consultancy in Abu Dhabi
MATCH INFO
Uefa Champions League semi-finals, second leg:
Liverpool (0) v Barcelona (3), Tuesday, 11pm UAE
Game is on BeIN Sports
UAE currency: the story behind the money in your pockets
Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Jigra
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
Company%20profile
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps
Biometrics: Touch ID, Face ID
Colours: Blue, purple, space grey, starlight
In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
If you go
Flying
Despite the extreme distance, flying to Fairbanks is relatively simple, requiring just one transfer in Seattle, which can be reached directly from Dubai with Emirates for Dh6,800 return.
Touring
Gondwana Ecotours’ seven-day Polar Bear Adventure starts in Fairbanks in central Alaska before visiting Kaktovik and Utqiarvik on the North Slope. Polar bear viewing is highly likely in Kaktovik, with up to five two-hour boat tours included. Prices start from Dh11,500 per person, with all local flights, meals and accommodation included; gondwanaecotours.com
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Manchester City transfers:
OUTS
Pablo Zabaleta, Bacary Sagna, Gael Clichy, Willy Caballero and Jesus Navas (all released)
INS
Ederson (Benfica) £34.7m, Bernardo Silva (Monaco) £43m
ON THEIR WAY OUT?
Joe Hart, Eliaquim Mangala, Samir Nasri, Wilfried Bony, Fabian Delph, Nolito and Kelechi Iheanacho
ON THEIR WAY IN?
Dani Alves (Juventus), Alexis Sanchez (Arsenal)
Engine: 3.5-litre V6
Transmission: eight-speed automatic
Power: 290hp
Torque: 340Nm
Price: Dh155,800
On sale: now
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Company%20Profile
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COMPANY%20PROFILE
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Tree of Hell
Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla
Director: Raed Zeno
Rating: 4/5
COMPANY PROFILE
● Company: Bidzi
● Started: 2024
● Founders: Akshay Dosaj and Asif Rashid
● Based: Dubai, UAE
● Industry: M&A
● Funding size: Bootstrapped
● No of employees: Nine
COMPANY%20PROFILE
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The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
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Specs%3A%202024%20McLaren%20Artura%20Spider
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The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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Community Shield info
Where, when and at what time Wembley Stadium in London on Sunday at 5pm (UAE time)
Arsenal line up (3-4-2-1) Petr Cech; Rob Holding, Per Mertesacker, Nacho Monreal; Hector Bellerin, Mohamed Elneny, Granit Xhaka, Alex Oxlade-Chamberlain; Alex Iwobi, Danny Welbeck; Alexandre Lacazette
Arsenal manager Arsene Wenger
Chelsea line up (3-4-2-1) Thibaut Courtois; Cesar Azpilicueta, David Luiz, Gary Cahill; Victor Moses, Cesc Fabregas, N'Golo Kante, Marcos Alonso; Willian, Pedro; Michy Batshuayi
Chelsea manager Antonio Conte
Referee Bobby Madley
A%20QUIET%20PLACE
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Company%20Profile
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Australia World Cup squad
Aaron Finch (capt), Usman Khawaja, David Warner, Steve Smith, Shaun Marsh, Glenn Maxwell, Marcus Stoinis, Alex Carey, Pat Cummins, Mitchell Starc, Jhye Richardson, Nathan Coulter-Nile, Jason Behrendorff, Nathan Lyon, Adam Zampa