4 Top Reasons Why Expats In UAE Can’t Save Money For Their Future
Some people get their salary on time but can’t save.
Other get theirs late but can save money for their future.
But why can’t we save money, although some get big salaries, in UAE?
A huge percentage has been bared by a study last year, noting that more than 80 percent of people in the UAE are not still saving money.
We’re revealing some of the obvious reasons as to why people choose to have a broken bank that we think everyone will agree.
Since the top priority why migrate to Dubai is to work for their families back home, half of their salaries (or more!) is sent to their families (and extended families!) to improve their way of living. Every year, tons of million dirhams are sent by Dubai residents. And now, we're left with nothing but a small amount of dirhams for our NOL card.
2. House Rent
This is one of the top reasons why residents choose not to save because of the unbelievable house rent. Even staying in a small shared room in Dubai now costs Dh800 that excludes Wi-Fi, water, and electricity fees! It’s unbelievable that others sacrifice to rent to a cheaper shared partition to other emirates.
3. Weekly And Monthly SALE!
This should be the top reason why we can’t save, aye? Everyone is guilty of it but you can’t blame Dubai if it hosts weekly and monthly sale. Almost every store in the emirate holds exciting promotion that people can’t resist. People tend to buy new shoes, bags make-up, among others than to save, and that’s very sad.
4. Joining What’s The Trend
From what we see, when iPhone releases a certain model, almost every resident wants to have it. You can obviously see it that majority of people on the metro are iPhone users. You barely see a resident with Android phone. No matter how expensive a device is, some purchase it using a credit card and regret later because their banks are now howling at them.