Pocketful of Dirhams

For people new to the world of investing, buying stocks can be a scary concept, particularly during periods of extreme volatility. But according to SimplyFI.org , a non-profit community of personal finance and investing enthusiasts in the UAE, investing does not need to be complex at all. It says the process can actually be quite simple and you can master the basics in a couple of hours. To help r...

Sending money to family members in your home country is something many UAE residents do on a regular basis. But as the world struggles with the effects of Covid-19 and some people have lost jobs or experienced a salary cut, actually having the money to transfer is an issue in itself. With so many of us now focused on keeping costs down, what is the best way to transfer money from the UAE? How do y...

When it comes to investing, UAE residents generally have two options: use the services of a financial adviser or go it alone and invest on their own. However, a new wave of low-cost digital investment platforms that gauge an investor’s risk tolerance and assigns them a tailored investment portfolio of exchange traded funds have emerged in recent years. Known as robo-advisers, the FinTech platforms...

With the Covid-19 pandemic affecting salaries and jobs across the globe, it’s very important that residents in the UAE stay on top of their finances and in turn their credit score. The Central Bank of the UAE's Dh256bn Targeted Economic Support Scheme helps lenders handle problem debts during the pandemic, with many residents receiving payment holidays on credit facilities such as loans and mortga...

With universities across the globe forced to shut their campuses amid the pandemic, many students are learning remotely. For those finishing their studies this year, it can also mean attending a virtual graduation ceremony. But what happens to graduates once the university learning experience is over? Normally, those ending their higher education would now be wrapping up their assignments, polishi...

Andrew Hallam, the author of Millionaire Teacher and Millionaire Expat, is famous for building up a million-dollar portfolio of low-cost stock and bond index funds on a teacher’s salary. Since retiring from his profession in Singapore in 2014, the personal finance author now blogs about his experiences and delivers talks to investors across the globe. What’s unique about Mr Hallam’s method is that...

The coronavirus pandemic has changed our lives in many ways. With so much turmoil in the global economy, it’s no surprise that our investment portfolios have taken a big hit. Over the past few months we’ve seen share prices crashing, livelihoods destroyed and governments rolling out generous stimulus packages to prop up economies. While stock markets have rallied from the lows we saw in March, the...

The coronavirus pandemic has changed our lives dramatically. And with many in the UAE and around the world now dealing with a salary cut or job loss, there has never been a more important time to diversify how you earn your income. If you only rely on the salary you earn from your job to support yourself, it can leave you and your family vulnerable if that income suddenly reduces or stops coming i...

As Ramadan draws to a close, many residents in the UAE would traditionally be scouring travel websites for the best offers on Eid breaks. But with hotels in the UAE only just starting to open their doors to guests following the Covid-19 pandemic and global travel restrictions grounding flights across the globe, going away for a few days is not as straightforward as it once was. Social distancing m...

If you have lost your job or are considering a career move, you might feel that now isn’t a great time to secure a new position. Movement restrictions across the globe have caused many to lose their jobs after schools, malls and businesses shut up shop to help contain the spread of coronavirus. Here in the UAE, movement restrictions have seen malls, schools and businesses close to help curb the sp...

As we approach the hotter summer months and the end of the academic school year, a number of UAE residents will be planning their relocation either to their home country or another destination. But while shipping is a standard process many of us deal with, things become a little more challenging when you are trying to move during a pandemic. So what is the best way to move your possessions at this...

As we approach the summer, many UAE residents are thinking about their travel plans. But while we would normally be discussing the exotic destinations we are heading to, or the journeys we are planning to our home countries, this year is very different. Rather than hunting for the best deals, many of us are more focused on either securing a refund on the flights and holidays we have already booked...

It’s that time of year when many residents in the UAE consider buying a new car – mainly because the market is flooded with Ramadan offers. From price reductions to zero financing and offers of free maintenance, registrations or insurance, they are all kinds of ways dealerships lure in customers. But buying a new car might not be a top priority for many in the Emirates at the moment who are still...

With the coronavirus outbreak still dominating our lives, stock market volatility looks set to continue as the markets struggle to interpret the economic fallout from the crisis. While some investors may naturally want to flee the carnage and stash their money in the safest possible place, there are still options out there. Airlines, hotel chains, entertainment operators, car manufacturers and oil...

As the number of coronavirus cases and deaths escalate around the world, the virus is affecting our lives and our finances in one way or another. Containment measures in the UAE, such as stay-at-home directives, cancelled flights and the closing of schools, malls and beaches could lead to a drop in revenue for businesses and a cut in income or job losses for residents. With this in mind, many bank...

Alice Haine, personal finance editor at The National talks to Mario Volpi, the sales and leasing manager at Engel & Volkers, about everything you need to know about rents, mortgages and buying property during the Coronavirus pandemic.

Coronavirus is taking its toll on every area of our lives and nobody knows when the mayhem will end. This is why it is so important to take good care of your finances as well as your health. Stock markets are crashing, employees are working from home, schools and entertainment venues have closed and incomes and jobs are in jeopardy. With so much uncertainty around us, it is time for all of us to a...

Protecting yourself, your family and your personal belongings with insurance should be part of a comprehensive financial plan. But many residents in the UAE don’t bother to take out protection with some paying the price for having no cover further down the line. While some insurance cover is mandatory in the Emirates, such as car and health insurance, other protection is optional such as travel, h...

Saving money is something many UAE residents struggle to achieve. According to a 2018 study from HSBC, more than three quarters of UAE residents are not saving anything for their retiremen t . Two in five agree it’s better to spend money on enjoying life now rather than stashing cash for their future, and more than half are typically saving for short-term goals rather than longer term plans. So wh...

Educating children about how to manage money is vital for their future. But with lessons in financial literacy sometimes on the more basic side, it falls to parents to pass on those early messages on effective financial behaviour. A 2019 study by Visa found that 43 per cent of those polled in the UAE between the ages of 16 to 24 are not ready to manage their own money, while more than half believe...

Running a car in the UAE can be an expensive process, once you factor in petrol, maintenance, repairs and insurance. But there are a number of ways to cut costs. One rule of thumb includes limiting payments on a car loan to 10 per cent of your monthly income to ensure your total costs for all car expenses stays below 20 per cent of your earnings. Another tip is to replace your car if repair costs...

Brexit. It’s a word we’ve all become familiar with since the UK voted to leave the European Union on June 23 2016. The move saw the pound plunge in value and property prices cool as buyers struggled to digest how the UK’s exit from the EU would affect the market. However, following the Conservative win in the UK’s December election, central London property buyers no longer appear phased by “the Br...

Investing your money always come with risk.  This month alone, we’ve seen how geopolitical shocks can spook the markets and sending the price of gold to a six-year high of almost $1,600 an ounce. Last year the US-China trade dispute also took its toll on the markets, along with the never-ending Brexit saga in the UK. Now, markets are trying to absorb what the coronavirus outbreak means. So how sho...

How the UAE’s end-of-service gratuity is evolving. If you are an expatriate employee in the UAE, you are entitled to a gratuity payment. But how much will you receive when you leave your current job? And, with the Dubai International Financial Centre now implementing its workplace savings plan, known as DEWs, is the UAE also considering a change to the gratuity system for the whole country?  Alice...

While every employee would like a pay rise in 2020, making it actually happen is another story altogether. Numerous research studies say we are in line for a raise this year: employees in the UAE can expect an overall base salary increase of 4.5 per cent in 2020 across all industries, according to global consultancy Mercer. Meanwhile, The Cooper Fitch Salary Guide says while strategy roles are set...