New to the UAE? Been here a while?
There are generally 3 main factors that attract expats do the UAE, the prospect of making more money, not having to hand your new found earnings over to the tax man and a better quality of life.
The problem is that for the majority arriving in the UAE this means their expenditure rapidly increases in line with their new lifestyle, they then become used to this lifestyle and expenditure remains high leading to loan or credit card debt in a lot of cases. It usually takes around 2 years to actually get around to looking at how they manage their money and this is 2 wasted years plus they have the debt to deal with.
To help maximise your time in the UAE and to acheive some of the goals you set yourself when you arrived you need a plan of action. The top two reasons for putting money away are property deposit and for childrens education costs. To ensure we get there we need to educate ourselves and make sure we're being proactive in the way we approach these targets.
I can help you to be proactive by helping you identify your goals, look at the options avaliable, assess the alternatives and implement the plan with regular review, I'm a Senior Financial consultant holding a UK qualification in financial planning and I help expats to acheive their goals whether this be saving for the short or long term, budgeting to help them reduce their debt or helping them to limit their tax liability if they are lookig to move away from the UAE.
If you have a question then please do not hesitate to get in touch, i'm a regular forum user and I'm happy to look at all circumstances and see if I can be of any help.