Pocketful of Dirhams

There’s a lot of speculation about how we’ll be working and getting paid in the future – think 2040 and beyond. While all those dystopian TV shows and movies might help you to imagine what it could be like, we are already getting glimpses of the future in our daily lives. This is thanks to our increased reliance on automation and, of course, the more recent surge in our use of generative artificia...

What is the one thing you dread most about your job? For many, that could be asking for a salary rise – even if you deserve it. Experts say there is a right and a wrong way to ask your boss for a wage increase and you should start by being prepared before sitting down with your manager for the “salary talk”. This could include compiling your successes over the past year to boost your case. You sho...

Knowing how to invest is an important skill to set you on the road to securing your financial future. Getting started, however, can be overwhelming if you are a beginner. While there’s a lot of advice on the likes of TikTok and YouTube, this is something you need to be wary about as many influencers are paid to promote investment services or are simply not financial experts. Taking the DIY investm...

As if rising interest rates and the cost-of-living crisis aren’t enough for investors to worry about these days. Despite all the talk of a bull market this year, stock markets continue their typical roller-coaster ride – one minute they’re in positive territory and your portfolio is in the black. And the next, they are impacted by a devastating crisis, such as the wars in Ukraine and Israel-Gaza....

It’s so easy to get caught up in the treadmill of life – chasing money, building our net worth, planning for retirement, supporting our families, working long hours and not spending enough time to do the things we’re passionate about with the people we love. It took the Covid-19 pandemic to make many of us realise that our work-life balance was much more important for our long-term happiness, heal...

The highs and lows of stock markets are often compared to a roller coaster ride – one minute, you’re on top of the world and making a profit. The next, it could all come crashing down and you start panic selling. Knowing how to keep our emotions in check while trading is an essential skill that investors need to learn, regardless of their experience. As legendary investor Warren Buffett once said:...

There are many reasons why we should have long-term financial goals – but perhaps the biggest is to ensure that we have a security net during our golden years. Working out what we want to achieve financially in our lives can be a struggle for some. Sure, there are the usual goals that many of us may aspire to – saving for a home and our children’s education, for instance. But what if your goals ar...

What are your plans for investing in gold for the rest of year? As many of you probably know, gold made a welcome comeback in April, jumping above $2,000 per ounce for the first time in more than a year. While the move was great news for gold investors, the bad news is that the precious metal typically rises during economic headwinds. In this case, the US banking crisis had taken hold amid persist...

In this special episode of Pocketful of Dirhams, we talk to the billionaire twin brothers who famously sued Harvard classmate Mark Zuckerberg for allegedly stealing their idea for Facebook. Cameron and Tyler Winklevoss, former Olympic rowers and founders of crypto exchange Gemini, first became famous after their legal dispute with Mr Zuckerberg, portrayed in the critically acclaimed 2010 movie, Th...

As the summer holidays approach, have you started thinking about how to protect your hard-earned money while travelling abroad? There are numerous hazards to be aware of – from pickpockets to sophisticated bait and switch scams and online fraudsters, to name a few. But there are ways that you can protect your finances before and during your holiday, such as being prepared and having a plan B in pl...

Are you financially prepared for the Eid Al Fitr celebrations? There are numerous expenses associated with the holiday — such as gifts, new clothes, family gatherings, zakat and overseas travel. There is no doubt that it can be an expensive time of the year for many households in the UAE — particularly for those who have left it too late to set budgets and put away money in the lead up to the holi...

Have you ever wondered how finance professionals manage their own money? It can be difficult for many of us to manage our personal finances at the best of times, such as sticking to a budget, ensuring we have enough to cover our daily expenses and consistently saving for important financial milestones, such as a down payment on a home and retirement. There's no doubt that financial literacy is one...

Have you tried ChatGPT yet? There’s been a lot of talk lately about the chatbot developed by Open AI to generate human-like conversations with people on a range of topics – big or small. There’s no doubt that many of you – like me – have already tried it and found that its potential is wide-ranging. Over the past few years, low-cost investment robo-advisers have democratised investing for the mass...

It’s that time of the year when many employees can expect a salary rise and bonus. On average, salaries in the UAE are expected to rise by 2 per cent to 5 per cent, although this depends on the sector you are working in and your role. According to a recent survey by jobs portal Bayt.com, 53 per cent of professionals in the UAE expect to receive a salary increase this year. Employees in banking, fi...

It’s been a tough year on our personal finances — from record-high global inflation to rising interest rates and an increase in borrowing costs for consumers.   There are also strong warning signs that a global recession is looming.    But, as we head into 2023, now is a good time to review your finances and plan ahead.    This is to ensure you begin the New Year on a positive financial footing —...

It can be an extremely stressful time if you lose control of your debts and can no longer keep up with monthly instalments on credit cards or loans. There are many reasons why debts can spiral out of control — from losing your job to facing a medical emergency, or even spending beyond your means. Whatever the reason, there are consequences — after three missed payments, banks in the UAE will alert...

The UAE’s Unemployment Insurance Scheme took effect earlier this month, giving all Emirati and foreign employees in the country a vital cash safety net if they lose their job.   The mandatory social security support system is based on 60 per cent of an employee’s basic salary and is capped at a maximum of three months, the Ministry of Human Resources and Emiratisation said.   While the finer detai...

Buying property is one of the biggest financial commitments that we will make in our lives. But getting on to the property ladder can be difficult for some — saving for a deposit while also meeting other expenses can take years, more so these days as property prices quickly rise and mortgages become more expensive due to central banks raising interest rates to rein in inflation. Others may feel un...

It has been a difficult year for cryptocurrency investors. Bitcoin has plunged from a record high of about $68,000 last year to trade in the $19,800 range on Monday, while the cryptocurrency sector's market capitalisation has again fallen below the $1 trillion mark. Analysts warn that the cryptocurrency roller coaster ride is far from over, dragged down by this year’s equity bear market, global ec...

The government’s overhaul of visa regulations last September means that teenagers aged 15 to 18 can now work part-time in the UAE, giving them an opportunity to earn a regular salary and learn some vital life skills at the same time. Those skills can include anything from money management to time management, as well as building confidence, instilling a sense of responsibility and gaining that all-...

As the UAE’s property market continues its strong recovery from Covid-19 pandemic-induced headwinds, recent changes to the country’s visa rules have opened up long-term real estate investment options for residents wanting to put down roots in the Emirates. While average property prices in Dubai rose by 10.9 per cent, year on year, last month, residents can now qualify for a 10-year golden visa if...

It's difficult at the best of times to stick to a budget — not only do you have to fund your daily living expenses, but there’s also paying down debt and meeting important savings goals to set you on the path towards a secure financial future. For parents, there are also expensive education costs to consider, as well providing for their children. But during times of high inflation and rising inter...

Buying a new or used vehicle can be an overwhelming experience for many — especially if you know very little about cars and what to be aware of before making a commitment. But cutting through the noise of slick sales talk and the many deals that are on offer in the UAE — which typically include extended warranties, free service packages, insurance and registration for the first year — is only the...

Protecting our finances online has become more difficult since the start of the Covid-19 pandemic, when we switched our lives online to work, study and shop from home during movement restrictions. The recent spate of true-crime documentaries on streaming services, including Netflix’s The Tinder Swindler, Bad Vegan and Inventing Anna, have served to highlight the issue — showing just how easy it is...

Salaries, hiring and workplace trends have been some of the biggest concerns for employees since the Covid-19 pandemic began two years ago. From temporary furloughs to salary cuts and working from home, it has been a difficult experience for many people around the world. However, the jobs market in the UAE will continue to recover in 2022 as business confidence and hiring activity return to pre-co...