Financial Plan - Budget?

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Financial plan - budget? Mar 24, 2006
I made some preliminary monthly budget calculation based on some information I could find on the net... is this real, or I have to change some items?

1. Accomodation $800
2. Transport $200
3. Food & Personal Care $250
4. DEWA $120
5. Car loan $250 (used)
6. Clothes $200
7. Internet $50
8. Other $200

I'll be in Dubai soon so I need some advice about the cost of living. I am a 32 years old single IT Professional and I am very disciplined with my spendings, so can I have a normal life with this level of expenses?

Thanks.

blackrose
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Mar 24, 2006
Approx. AED

1. Accomodation $800 2,936
2. Transport $200 734
3. Food & Personal Care $250 917
4. DEWA $120 440
5. Car loan $250 (used) 917
6. Clothes $200 734
7. Internet $50 183
8. Other $200 734

1. Accomodation is about right, but would vary on the area
2. Why transport if you are purchasing a car? Petrol would be in the region of about 400 pm; insurance and registration one time per annum of about 2,000 (pre-paid for the year).
3. MMMM. debatable, depends what you are going to be eating, if you eat out etc. I know there is a post somewhere on the forum with shopping expenses and product prices.
4. On average okay, again depends on where you stay and what is included in the rental.
5. Okay
6. Okay. Good time to buy is during Dubai Shopping Festival of Summer Surprises - they have some wacky sales... 80% off etc, so that you can see how much they are really ripping you off during the rest of the year.
7. Okay
8. Contingency covers a multitude of sins. Expect to lay out on average about 2,500 - 5,000 in the first month(s) of your stay. This will cover things like the DEWA deposit (connection fee) of about 1000, Etislat installation and connection fees about 500. Also don't forget you normally have to pay a security deposit on your accomodation (equivalent to 1 months rental). Rentals are normaly pre-paid in the form of 3 cheques dated for 4 monthly intervals over the year - you need to make sure your "provision fund" is left in tackt and not spent.

Ultimately depends on your package on what you can afford and where you afford to stay.
dbxsoul
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Mar 24, 2006
So basically it's OK, sure it will be some variations but I needed to know my average spending outlook without savings, insurance etc. just in order to know average expenditures when I’ll negotiate my package.

Based on this, now I know that some 12000 AED/month is the minimum I’ll be willing to accept.

Thanks.
blackrose
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Apr 04, 2006
where did you find the budget info online? id like to put together a budget for two adults and a young chilD
L_pevensie
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Apr 04, 2006
Sorry to have to be the fly in the ointment but i totally disagree. With the highest regard to dxbsoul the rental and the DEWA are miles off the mark.

40k Dhs is miles off the mark for a decent property rental. Minimum i would allocate is 70k.

Dewa is way off the mark also as all new contracts now have to include the new property charge of 5% of the rental. So on 70k it would be 350 Dhs per month plus water/sewerage and electricity. so reckon on about 700 - 1000 Dhs per month.

Cable TV isnt cheap either.

Clothes is a bit ambitious also.
arniegang
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costs of living Apr 05, 2006
arnie, i agree regarding the rental and Dewa issue.

i actually had it in my mind that he would be sharing with someone, it's possibly the easiest and cheapest thing for a single person to do when they first arrive.
dbxsoul
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Apr 05, 2006
ah in that case soul your estimates would have been correct.

my estimates were purely for "sole" (no pun intended :lol: ) use
arniegang
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arnie Apr 06, 2006
hahahaha - good one
dbxsoul
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