My son is the only child I know who seeks out reptiles over cuddly pets you can stroke and be boisterous with. It was a sight to behold when we recently went to a pet shop to satiate this urge.
He was not so much leaning forward as giving in to the will and weight of the enormous ball python that had curled up comfortably around his head – sitting askew looking every inch the turban – a live, scaly mass of meat with its head leading my son to where it wanted to explore next.
I am yet to give in to his requests to have his own python – although the one at the shop nearly had me reaching for my wallet when it reciprocated my son's kiss with a peck on his cheek – I have it all on video to prove it.
But I did give in to his obsession just yesterday when I bought him a snake-shaped pendant made out of volcanic rock.
I would normally tell him he needs to use his pocket money for these sorts of purchases – but I thought of it as a keepsake and memory of a wonderful time spent on our holiday together. At "just" US$8 it was a bargain.
Hmm. It's amazing how we think of things costing "just" $8, $10 or $50. We believe that this bit of money won't change our life, so we might as well spend it on something special. Something that will make us feel good. A treat. A meal. A session at the Spa. Shoes. You name it, the list is endless.
Ah. But money is money. And if you keep it – no matter how much or how little – it will make a huge difference to your life.
Time to do some sums: Let's say you save Dh700 a week. That's "only" Dh100 a day. Think about it, over the course of a week you spend many Dh100 on things you just don't need – one pair of killer sunglasses alone can set you back the equivalent of a few weeks at Dh100 a day in many cases – and what's wrong with the pair you own already anyway?
Think.
What else could that money be doing for you?
Well, if we say you resolve to save Dh100 a day, seven days a week, and get 7 per cent compound interest paid out annually, then after a mere 10 years you'd have a massive lump sum of Dh520,661. Cash.
I'll say that again: saving Dh100 a day for 10 years gives you more than half a million dirhams to do with what you wish. Details above.
This is the cold, hard factual truth of what that bunch of 10s and 100s can be doing for you and your life. But are you convinced? Even though we are seemingly logical, reasonable beings, there is some deep resistance to looking at small amounts of money with the same emotion and reasoning as big sums.
For many, there's a giant disconnect between, say, using coupons, and behaving in a generally thrifty way, and accumulating great wealth. But folks, the simple fact of the matter is that one leads to the other. No, I'm not talking being a miser or having zero fun. And I bet you can find that Dh100 a day even if you are a zero saver person. And guess what? I'm not going to bang on about it any more.
This is why: I read recently that the best way to convince someone of an opposing belief is to just show them an image relating to the facts. The research that led to this included beefing up people's self-esteem, showing them the opposing viewpoint in graphical form and getting them to read about facts that go against their grain. The image won hands down.
So the next time you feel the urge to spend "just" a bunch of tens, have a good long look instead at a simple line that charts out the upwards trajectory of your savings to financial freedom instead. I hope it curtails your spending and renews your faith in this miracle of compound interest.
While you're at it, why not stick a photo of your dream home, place to live or way of life on that same chart and I'm sure you'll be on your way to not just dreaming, but making daily changes that will make it all come true. Sooner than you dare hope.
Nima Abu Wardeh is the founder of the personal finance website www.cashy.me. You can contact her at nima@cashy.me
Follow us on Twitter @Ind_Insights
The Buckingham Murders
Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu
Director: Hansal Mehta
Rating: 4 / 5
Company%20profile%20
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COMPANY%20PROFILE
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The%20Specs%20
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SPECS
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The%20specs
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TECH%20SPECS%3A%20APPLE%20WATCH%20SE%20(second%20generation)
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Company%20profile
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Company profile
Company name: Suraasa
Started: 2018
Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker
Based: India, UAE and the UK
Industry: EdTech
Initial investment: More than $200,000 in seed funding
RESULTS
6.30pm Al Maktoum Challenge Round-2 – Group 1 (PA) $49,000 (Dirt) 1,900m
Winner RB Frynchh Dude, Pat Cosgrave (jockey), Helal Al Alawi (trainer)
7.05pm Al Bastakiya Trial – Conditions (TB) $50,000 (D) 1,900m
Winner El Patriota, Vagner Leal, Antonio Cintra
7.40pm Zabeel Turf – Listed (TB) $88,000 (Turf) 2,000m
Winner Ya Hayati, Mickael Barzalona, Charlie Appleby
8.15pm Cape Verdi – Group 2 (TB) $163,000 (T) 1,600m
Winner Althiqa, James Doyle, Charlie Appleby
8.50pm UAE 1000 Guineas – Listed (TB) $125,000 (D) 1,600m
Winner Soft Whisper, Frankie Dettori, Saeed bin Suroor
9.25pm Handicap (TB) $68,000 (T) 1,600m
Winner Bedouin’s Story, Frankie Dettori, Saeed bin Suroor
'The Ice Road'
Director: Jonathan Hensleigh
Stars: Liam Neeson, Amber Midthunder, Laurence Fishburne
2/5
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Total eligible population
About 57.5 million people
51.1 million received a jab
6.4 million have not
Where are the unvaccinated?
England 11%
Scotland 9%
Wales 10%
Northern Ireland 14%
LA LIGA FIXTURES
Saturday (All UAE kick-off times)
Valencia v Atletico Madrid (midnight)
Mallorca v Alaves (4pm)
Barcelona v Getafe (7pm)
Villarreal v Levante (9.30pm)
Sunday
Granada v Real Volladolid (midnight)
Sevilla v Espanyol (3pm)
Leganes v Real Betis (5pm)
Eibar v Real Sociedad (7pm)
Athletic Bilbao v Osasuna (9.30pm)
Monday
Real Madrid v Celta Vigo (midnight)
History's medical milestones
1799 - First small pox vaccine administered
1846 - First public demonstration of anaesthesia in surgery
1861 - Louis Pasteur published his germ theory which proved that bacteria caused diseases
1895 - Discovery of x-rays
1923 - Heart valve surgery performed successfully for first time
1928 - Alexander Fleming discovers penicillin
1953 - Structure of DNA discovered
1952 - First organ transplant - a kidney - takes place
1954 - Clinical trials of birth control pill
1979 - MRI, or magnetic resonance imaging, scanned used to diagnose illness and injury.
1998 - The first adult live-donor liver transplant is carried out
BIG SPENDERS
Premier League clubs spent £230 million (Dh1.15 billion) on January transfers, the second-highest total for the mid-season window, the Sports Business Group at Deloitte said in a report.
U19 World Cup in South Africa
Group A: India, Japan, New Zealand, Sri Lanka
Group B: Australia, England, Nigeria, West Indies
Group C: Bangladesh, Pakistan, Scotland, Zimbabwe
Group D: Afghanistan, Canada, South Africa, UAE
UAE fixtures
Saturday, January 18, v Canada
Wednesday, January 22, v Afghanistan
Saturday, January 25, v South Africa
UAE squad
Aryan Lakra (captain), Vriitya Aravind, Deshan Chethyia, Mohammed Farazuddin, Jonathan Figy, Osama Hassan, Karthik Meiyappan, Rishabh Mukherjee, Ali Naseer, Wasi Shah, Alishan Sharafu, Sanchit Sharma, Kai Smith, Akasha Tahir, Ansh Tandon
COMPANY%20PROFILE
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Sweet%20Tooth
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Ant-Man%20and%20the%20Wasp%3A%20Quantumania
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
'The Batman'
Stars:Robert Pattinson
Director:Matt Reeves
Rating: 5/5