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How to save more in UAE?


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Do expats save more in UAE than it is possible in their home country?

Some save but most don't!!!

In spite of living and working in UAE for many years, many expats leave UAE broke!!!

This presentation disusses why most expats don't save and How to save more in UAE?

Published in: Lifestyle
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How to save more in UAE?

  1. 1. ARE YOU KEEPING IT? How to save more in UAE?
  2. 2. WHAT BRINGS YOU TO UAE? I usually ask this question to every expat I meet, and I meet as many as 5 - 10 every week. The answer usually is Money / Tax-Free Income.
  3. 3. SOME SAVE BUT MOST DON’T Do expats save more than it is possible in their home country?
  4. 4. WHY DON'T THEY?
  5. 5. WHY DON'T THEY SAVE? ➤ It is because they get dazzled by the glitz and glamour of UAE, and lose focus of their very purpose of them coming to UAE. ➤ They forget the fact that it is not important how much money you make, what matters is how much you keep?
  6. 6. ““It is not how much money you make, but how much money you keep, how hard it works for you and how many generations you keep it for.” -Robert Kiyosaki
  8. 8. SET A BIG SAVINGS GOAL ‣ It doesn't matter if you have just arrived in UAE or if you have been here for decades if you must have a savings goal! ‣ The first step to achieving success in any field is knowing what the outcome is? ‣ Similarly, it is important to set a challenging, practical and time bound savings goal. ‣ Don't settle for small and short-term savings goals, desire to make it big!!
  9. 9. Once you have set your desire to save a big amount of money, track your progress regularly. With the advent of smartphones and tablets it is easy to track your savings goals. Use the smartphone apps to effectively track your progress… TRACK YOUR PROGRESS
  10. 10. DRAW A BUDGET… ➤ A Budget is the most basic and important tool in helping an you achieving financial success. ➤ It enables you to make the best use of the money you earn; to meet the financial needs of today and goals of tomorrow. ➤ It also allows you to manage your cashflow effectively while focusing on your long term financial goals…
  11. 11. BUDGETS ARE BORING It takes a lot of time and discipline to create and manage a budget!!!
  12. 12. FREE BUDGET PLANNER Exclusively designed for UAE residents. Click to Download
  13. 13. SAVE ON RENT Many expats believe that rent is an alternate to tax in UAE, because it can take up to 25% to 50% of your income. If you are paying more than 30% of your income as rent, then you should seriously consider moving into a apartment / villa with a lower rent. Read this while paper by Colliers which talks about rent affordability based on income of residents in UAE.
  14. 14. CONSIDER OWNING INSTEAD OF RENTING ‣ If you plan to live and work in UAE for more than 7 years, living in your villa/apartment would make a lot of financial sense. ‣ Given the low-interest rates, easy mortgage approvals and surge of affordable housing it is easy to buy your property in UAE. ‣ The only challenge would be the downpayment.You would need between 25% - 33% of the property cost to buy a property in UAE. ‣ This is a BIG savings goal, add this now to your Savings Goal Tracker…
  15. 15. KEEP YOUR CAR FOR 5 + YEARS Change only when necessary…
  16. 16. SAVE ON AIRFARE AND HOTELS Plan your travel in advance…
  17. 17. SAVE ON UTILITY BILLS Try to bring them down by 20%
  18. 18. AVOID FINES ‣ Pay your credit card bills & loan EMI's on time ‣ Keep a Track of your Salik account, and recharge it when the balance goes down. ‣ Be careful while driving and follow the rules ‣ Wear the seatbelt ‣ Do not use the phone when driving ‣ Use the RTA parking app or buy a parking card to ensure that you don't receive parking fines
  19. 19. GET RID OF DEBT This is a no brainer
  20. 20. SUMMARY Over a period of time an expat should; 1. Aim to live off less than 50% of his income 2. Invest in income yielding assets to complement his income 3. Reinvest the income from the assets in more assets yielding income Repeating this process over a period of time will make you financially independent and Wealthy.
  21. 21. EXPERT ADVICE As Qualified & Independent Financial Advisor, I can be your financial coach; ‣ Helping you set aggressive saving goals in line with your income and lifestyle ‣ Setting up an action plan for achieving them ‣ Investing your savings for capital accumulation while beating inflation, currency and market risks ‣ Identifying and investing the accumulated capital in income yielding assets. Visit to know more