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UAE has improved this Canadian expat's relationship with money and wealth

Canadian expatriate Dr Katherine Iscoe is still less than a year in the UAE, calling Dubai home, but she is in a critical transition, turning her relationship with money from something complicated to comfortable. A keynote speaker and author, the former tech CEO says money equals choices and acknowledges she has worked hard to build her relationship not only to money, but also the one with herself.

How do you think your complicated relationship with money was formed?

It’s complicated because it was neither clearly good nor bad. My mother grew up in — and eventually left — a communist country at a young age, where having a little meant you had a lot. She was always careful with money, but not frugal. My father is also very careful, but never restrictive. So, I didn’t grow up with extremes — no wealth, no scarcity — which made it hard to define my relationship with money for a long time.

What good or bad lessons about money management did you learn from your mother?

One of the best things my mother ever told me, and something that has stayed with me to this day, is: “If you worry about money, money will always be a problem.” And a side note: while I think it’s wonderful if parents teach their children about money management, I also think it’s another huge responsibility placed on parents. Why money management isn’t taught in schools, along with emotional intelligence, is beyond me.

Who do you speak about money matters and is it something you consider 'taboo’?

I don’t consider money taboo, but I’m selective about who I talk to. I choose people who treat money the same way I describe worth in my book — not as a measure of superiority, but as something you can claim with confidence. If someone brings judgment, scarcity, or shame into the conversation, I simply don’t engage. Money is too closely tied to self-worth to let the wrong people influence how you talk about it.

Who has taught you the most about financial management?

No one, I had to learn it myself on the fly.

How do you think living in the UAE has changed your relationship with and perception of money or wealth?

It’s greatly improved my relationship with money and wealth. Seeing so many women chase what they want and ask for what they deserve is a lesson in money mindset. Here, money is treated as something positive — not dirty or shameful.

If you could give your child or your younger self one piece of advice about money now what would that be and why?

I’d tell her: “Money isn’t a measure of your worth — it’s a tool. Learn how it works early, and don’t be afraid to ask for more.” I grew up thinking money was something you tiptoed around, and that being confident about it would feel arrogant. But confidence with money isn’t arrogance — it’s self-respectful. In fact, this is exactly what I explore in my new book: learning to recognise your value and claim it, whether it’s negotiating a salary, setting your prices, or simply asking for what you deserve.

What do you value spending money on?

My health. I’m nearing 50 and at a stage where being healthy isn’t a given. Learning from specialists and understanding what can improve my health is a non-negotiable investment.

What do you consider splashing out?

Shoes. There is something about high heels where I turn into an addict. Do I really need another pair of nude heels? That’s what I tell myself in the store — and then I must seriously pep-talk myself out of walking out with them.

Do you long-term plan your finances, and if so, how?

I don’t plan in a strict, spreadsheet-heavy way, but I’m intentional. I know my targets, I know the future I’m building, and I act in alignment with it. It’s similar to what I talk about in my new book: once you embrace your worth, you stop waiting for permission and start making decisions that reflect your value. That’s how I approach money now — with clarity, not fear.

What is your greatest financial decision?

Moving to Dubai, no question. Australia was wonderful to live in, but the mindset around business, money and hustling wasn’t aligned with me. I’ve never felt so supported. The number of people, especially women, who have said “You should talk to ____” or “Let me help you with _____” is countless. Yes, the cost of living is high, but I’ve never felt more positive about my financial future.

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