The conviction rings true considering this young woman founded the UAE’s first food tourism company–Frying Pan Food Adventures–introducing thousands of residents and travellers to the rich tapestry of Dubai’s “authentic eats.” Through her venture (and previously through her blog) Arva champions the culinary genius to be found beyond Dubai’s five-star fine-dining hotspots, spotlighting small gourmet gems in the city’s by-lanes and old neighborhoods and catching the attention of global platforms like CNN and National Geographic while at it. In fact, when Gwen Stefani was in town last year, it was Arva they roped in to show her the ropes when it came to local tea culture.
It’s an unusual trajectory from the world of finance to food, admits Arva. The Wharton alum (she completed both her undergraduate and MBA at the prestigious business school) tried “the Wall Street thing” but still found herself indescribably drawn to pursuing her epicurean exploits instead.
We break bread with one of the city’s star food entrepreneurs to find out her take on money.
For a finance nerd, Arva’s perspective on personal finance is surprisingly traditional: “I have an old-school view when it comes to personal finance, largely owing to my Dad’s philosophy of living within your means and saving for the future.” she says.
“We lived a simple but comfortable life and were never influenced by what everyone was buying or wearing,” recalls Arva. “My father didn’t believe in getting a new car just because his current one was a couple of years old or buying new shoes because he’d had the same pair for a while. As long as what he owned was successfully meeting a purpose, he didn’t need more.”
She admits that she was always a committed saver, right from the beginning. “ I was never a spender. Even now, the idea of spending a thousand dirhams on a purse, just because it is some designer brand is unthinkable to me because I see value differently,” says Arva who admits to foregoing nights out at fancy restaurants and clubs when she lived in New York City in favor of “taking the subway for an hour to hunt down this hole-in-the-wall restaurant in some New York alley!”
She maintains a strong aversion to debt, both in life and in business. “No one in my family has taken a personal loan. Even for Frying Pan, I have never resorted to a loan. It is completely bootstrapped.”
As the owner of a small business working on creating a scalable enterprise, Arva’s biggest investment focus is her company: “I would rather figure out a business that makes things, solves problems and makes me money while I’m at it.
“I like investing in my business, because I can bank on myself and I know how hard I am going to work.”
She values passive opportunities to grow wealth as she’d rather avoid “getting on the hamster wheel of keeping up with interest rates and market fluctuations.”
In that case, what would be her reaction to a passive investing platform or roboadvisor (like Sarwa)? “That would be an attractive solution that’s worth exploring,” she says.
Arva agrees that her investment philosophy is the complete antithesis of a Wharton alum but she sticks to her guns saying that it’s an approach that worked for her father (who still maintains a thriving business in Dubai for well over three decades) and so she believes it’s one that will work for her in the long run.
When it comes to investing, Arva believes it’s important to “know yourself and your circumstances really well,” citing liquidity of funds as a major factor. She explains: “I may need funds for my family or for my business and I won’t have such ready access if I locked away my funds in a rigid investment product.”
A long-term view and diversification are other important elements in her investment approach. Angel investing is also on the cards “when I accrue enough savings that I am willing and comfortable to deploy to an interesting business.”
Perhaps the biggest change in Arva’s money mindset is the impending arrival of her first child. “Now that I’m an expectant mother, the way I think about the future has completely changed. Time to look at investing in an education fund!”
“I regret not seriously thinking about investing in my twenties,” shares Arva.
She believes that more colleges and companies should introduce financial investment programs for young graduates. “We have programs on negotiation, conflict resolution and public speaking. What about financial management, which I think is even a lot more crucial towards one’s long-term success?”
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