Journey of Lakshmi Venkatesh: An Empowered Woman
Lakshmi Venkatesh is an accomplished event manager and classical dance choreographer from India, currently living in Dubai for the past 25 years. At 48 years of age, she views money as a means of empowerment, while firmly believing it should not define her identity.
A Letter to Money
Dear Money,
I met you a few years after my birth, and since then, I’ve recognized your significance in my life. You hold an important place, yet I’ve come to understand that you shouldn’t dictate my existence. Over the years, you’ve taught me that you can be a source of strength and confidence for which I’m thankful. Your empowerment has allowed me to influence the lives of those around me, but I must remind you to never overshadow my true self.
My Relationship with Money
I regard money as my ally, advisor, and mentor. It has provided me with a sense of security, supporting me through life’s challenges and allowing me to take care of my loved ones while pursuing my passions. However, I’ve learned that life’s circumstances are transient. Money may ebb and flow, which teaches us to remain detached and to not let it dictate our lives—a philosophical insight that has instilled a sense of contentment in me.
Forming My Perspective
The foundation of my relationship with money was laid in my childhood. My mother instilled in me the importance of respecting money in all its forms. I vividly remember her picking up dropped coins or currency and touching them to her eyes as an apology and sign of respect—this ritual still resonates with me. I learned to handle money wisely, to spend responsibly, save for the future, and share with those in need.
Lessons from My Mother
Growing up in the 1980s, my father was a timber and plywood merchant in India, providing for a family of five while caring for extended relatives. My mother masterfully managed our household finances, ensuring that expenses were well-planned and that a portion of our income was saved. Even during tough times, she skillfully navigated budgeting, demonstrating remarkable financial acumen despite having only a high school education.
Discussing Money Matters
I am open about financial discussions with my husband, close friends, and parents. Additionally, I prioritize guiding my daughters in making informed financial choices.
Learning Financial Management
My financial knowledge has largely been self-acquired through experience, focusing on smart investments while prioritizing safety and avoiding market risks.
Impact of Living in the UAE
My relocation to the UAE has been transformative. Arriving in 1997, I started as a primary teacher and transitioned into a successful career in dance. The welcoming environment and opportunities offered in this country have been remarkable. From living in a shared apartment to now renting a villa in Dubai, my growth—both professionally and financially—has been substantial. The UAE’s tax-free salary system has allowed me to save and support my extended family back home. Here, dedication and commitment are acknowledged and rewarded.
Values in Spending
I prioritize spending on essentials, especially education, which I view as an invaluable investment.
Long-Term Financial Planning
Yes, I actively plan for the future. My long-term financial strategy centers on securing wellness through comprehensive health insurance, planning for a comfortable retirement, and ensuring life security through insurance.
Monthly Savings
Each month, I manage to save approximately Dh20,000.
