They call him “beedii.”

“That was my pet name at home. In Arabic, it also means someone who creates with their hands,” explains Obaid Mohammed Al Budoor, a self-taught Emirati photographer whose breathtaking images of landscapes from all over the world have garnered quite the social media following.

“I always had this artistic streak,” recalls Obaid. “As a kid, I was always messing around with a paper and pen and eventually a paintbrush.” The multi-talented millennial – who was most recently a finalist in a National Geographic photography challenge – was an all-rounder in school: “I grew up being good at a lot of different things and it so happened that I liked math and tinkering with numbers. I know that’s ironic considering today I’m totally into creative stuff!”

Like most artists in pursuit of creative genius, Obaid confesses he loves being a recluse lately, but we managed to coax him out of his artist’s den to talk about his personal finance journey in his own words!

Getting Savvy About Saving

From the age of 18, I’ve been trying to save but it is incredibly hard in a city that is as uber-capitalistic as Dubai! Every month I do my best to save something, no matter how small. Like they say, it takes hundreds of small stones to make a mountain.

When I was 16, my Dad told me that if I saved every month, he would give me double the amount saved as a reward. An offer I couldn’t refuse! Looking back, it was a very clever tactic on his part to get me to understand discipline and the value of delayed gratification, something that many young people don’t fully appreciate in today’s everything-on-demand world. To me delayed gratification means giving up something in the present to get something in the future with a lot more flavor!

Turning a Passion Into a Business

I entered university right when the financial crisis was at its worst, so I had the chance to ride it out while studying. I completed my Bachelor’s degree in business in Washington D.C. and chose banking because it paid well and offered excellent benefits. At the time, the money helped me take care of some personal and family obligations and give me a head start.

Photography was first a hobby and then with time and practice, I became an enthusiast and eventually a professional. I was working full-time at Citi so when people would ask me to shoot for them, I’d have to squeeze it in on weekends or sometimes take time off. It got to the point where incoming requests were increasing meaning I had to frequently take more time off and it hit me, if I really focus on photography and solidify my client base, this could be my new career.

Diversify Your Income Streams

As a photographer, I don’t get all my income from one service or product offering alone. I do workshops, talks, sell prints, do photography tours, video editing for others and offer online advice.

 

Embarking on Investing

When it comes to investing, especially in the stock market, I have to confess I lack the self discipline to set aside time to research my options. I’ve been reading a lot about roboadvisors and the fact that these platforms can bring the costs down so significantly is amazing.

When I invest (which will be soon!), I would back companies I am comfortable with and whose business model I understand. I also know that I’d prefer putting my money into more liquid investments than real estate. People in the region get drawn to real estate because they’ve seen the success stories of all these other tycoons who made it big. But these are major players with huge real estate portfolios who have spread their risk across multiple real estate investments. When you’re a regular full-time employee, your liabilities are completely different and you may not want the majority of your savings tied up in a property.

 

Financial Fitness: Men vs. Women

I do think (khaleeji) men discuss money-making opportunities more than women. I remember during the bitcoin craze, some guys had created a little installation at the side of the majlis that covered all things bitcoin. I imagine things are changing among young (khaleeji) women. So many of them are working full-time, whether out of necessity or personal interest so they are figuring out their own finances. I think community education is important here to level the personal finance awareness between both men and women so we share a baseline of knowledge.

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