UAE interest rates hiked: 6 ways residents can save more during inflation

UAE interest rates hiked: 6 ways residents can save more during inflation

Experts offer tips on how to handle finances to balance out rising prices

By SM Ayaz Zakir Published: Fri 6 May 2022, 5:12 PM Last updated: Fri 6 May 2022, 9:33 PM

Financial gurus in the UAE believe inflation is on the rise due to several ongoing global crisis. Experts are urging residents to consider how they handle their finances in a bid to help them balance out rising prices

“One cannot simply ignore the corrosive impact of rising prices on investments. Therefore, we always must be on the lookout for investments whose returns are more than the prevailing inflation rate,” said Rupert J Connor, Partner, Abacus Financial Consultants.

Here's some advice from experts on how to beat inflation.

1. Investments

Investments have been a priority for individuals based on their income. But if you are investing currently, you should be careful. Overlook the accomplishments and returns of any company, product or services, advise experts.

“When looking at investments it is always important to focus on what is the real return or the return net of inflation,” explained Conor.

He also advised residents to invest in equities over the long-term. “It is one of the best ways to stay ahead of inflation. However, equity investments usually carry a