The times are tough for the local UAE economy with rent prices touching the floor as time goes by and no change is to be found in the salaries. Harder times require better budgeting skills. It is easy to spend money when you live in a consumer economy with all the expensive brands around the block.
You will find that by breaking your spending habits, you are happier and less stressed about money than you were before. Not only that, but this will also boost your bank balance and savings. Nothing is better than financial stability.
You will find that by breaking your spending habits, you are happier and less stressed about money than you were before.
Avoid Upgrading To A Bigger Space
Reduction in rent prices does not mean that you start looking for an upgrade. Take this chance to save extra money by de-cluttering your apartment and moving to a smaller one if needed.
This will not only reduce your rent but will also considerably lower your other household bills such as electricity bills, taxes, heating, and cooling system bills, etc. Despite the cost benefits, it will also be less hectic as you would not have to maintain a big place with a garden.
Move Closer To Your Job
Since you have decided to downgrade your living space, then it is better to move to an area which is closer to your job or public facilities.
Moving closer to your job will save the fuel and commute costs while moving closer to public facilities like transportation services or good local shops will also save money which will surely prove beneficial for the health of your bank balance.
Save Your Mobile Costs
You can save your mobile costs by meeting your friends at their place or by inviting them over. Furthermore, it is better to use free VoIP services instead of calling them as that way at least you can see them as well instead of only listening to their voice.
Moving closer to your job will save the fuel and commute costs while moving closer to public facilities like transportation services or good local shops will also save money
Change Your Water Purchasing Habits
Instead of continually spending cash on bottled water every month, it is better to purchase a water filter. You will be provided with the same quality of water at one-tenth price of what you spend every month on bottled water. Plus, it is also good for the environment.
Learn To Cook
Save your money and health by learning how to cook. It is best if you avoid eating out even if you have a discount voucher. Buy your groceries every month from a farmer’s market at low prices and cook at home.
Invite your friends over and cook for them instead of going out each weekend, as that way you can have a good enough time without leaving the comfort of your home. In fact, you will have more fun since you and your friends will be in more comfortable attire.
Instead of continually spending cash on bottled water every month, it is better to purchase a water filter
Make Better Choices With Your Transport
You need to decide whether you really need another car or not. Furthermore, you should choose a car by looking into the facts of how practical it is and if it is cost efficient or not.
A practical car is much better than a stylish one as there is no other use of it apart from creating an impression.
It is also recommended that you use premium gas because it burns at a lesser rate as compared to the cheaper one, eventually saving you more money in fuel costs.
Switch To A Cheaper Grocery Store
Buying grocery at a lower price does not mean that you are compromising on the quality of the goods.
It only means that since products do have added taxes, fancy grocery stores usually sell them at a higher price just to create an image of being high quality and hence earn a lot of profit at the same time.
In fact, there is a high chance that you will find the same quality goods, if not better, at the cheaper store.
Switch To Online Shopping
It is a proven fact that items are cheaper online as compared to their prices in stores. The best part is that if you buy things in bulk and your final bill exceeds a certain amount, then some online retailers may even waive off your bill.