UAE: From buying stocks to creating emergency funds, here’s how expats save money

UAE: From buying stocks to creating emergency funds, here’s how expats save money

There is an increasing number of UAE residents who are being extremely careful with their spending

Published: Mon 14 Aug 2023, 5:19 PM

For Rochelle, the bling life in Dubai has been alluring ever since she moved to the city five years ago. “I love being trendy and spending on branded clothes, shoes, and accessories,” she said. “Dubai has offers and sales all-round the year and I try to take advantage of these. However, that leaves me with no money.”

Now that she is getting married soon and is hoping to buy a new car, the Spanish expat has become more mindful of her spending. She has now signed up for a ‘Save Now Buy Later’ feature by fintech app Sav.

“I’ve seen many of my friends here struggling to pay EMIs or pay off loans, and I don’t want to fall into that trap,” she said. “I’m willing to save a small part of my salary every month for the car.”

Rochelle is among an increasing number of UAE residents who are being extremely careful with their spending. From setting aside a fixed amount every month for investment to creating an emergency fund, many expats have a detailed plan to save up money.

Pay yourself