Why it is important to know your net worth – The National
- Date: 08-Jul-2023
- Source: The National
- Sector:Financial Services
- Country:UAE
Why it is important to know your net worth – The National
Abhinav Mittal, an Indian resident in the UAE, and his wife arrived in Dubai in 2014. Despite being enticed by the lure of luxury living, he always kept in mind veteran investor Warren Buffett’s words: “If you buy things you do not need, soon you will have to sell things you need.”
This grounded him and guided his spending decisions, the author and independent technology cost optimisation adviser recalls.
“Following the F.I.R.E. [Financial Independence, Retire Early] philosophy, I embraced a minimalist lifestyle. I focused on spending only on essentials and avoided the trap of lifestyle inflation, even as my earnings increased,” Mr Mittal, 39, says.
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