By Nihan Ashraf 13/02/2023

How To Save Money In Dubai - 10 Tips

Dubai can quickly blow your money if you're not careful! Like other high-priced cities, residents have discovered ways to squeeze every dirham.

START SAVING TODAY If you desire more money in the future, now is the time to start saving. When it comes to saving money, don't be shy.

KEEP TRACKS OF YOUR CASH FLOWS Keep track of your finances by entering them into an excel spreadsheet or writing them down in a notebook.

OPEN TWO BANK ACCOUNTS If possible, open two bank accounts: one for savings and one for spending. This is to prevent your funds from becoming mixed up.

PUT YOURSELF FIRST ON THE LINE It simply means putting your finances first. When you get your paycheck, divide it into percentages and put some aside in a savings account.

LET YOUR MONEY DOUBLE OR TRIPLE Invest in stocks and mutual funds to double or triple your money. With a 10% return, your money will undoubtedly earn you more money.

DON’T WASTE FOOD AND OVERSPENDING ON IT When shopping for food, only buy what you need. Avoid wasting food and overspending on it.

BUY QUALITY PRODUCTS AND SERVICES Never sacrifice quality for a lower price. Purchasing a low-quality product can result in additional costs.

DO NOT BORROW MONEY Avoid borrowing money simply so you can buy goods you won't need for at least the next five to ten years.

AVOID USING CREDIT CARDS Using cash as payment is one strategy to save money in Dubai. Using credit cards will just encourage you to spend more.

MAKE IT A HABIT TO BARGAIN Don't be afraid to haggle with street merchants. This is an approach that can help you save money while still acquiring the items you want.