# Is anyone else in the same boat?



## mamajed (Jun 1, 2013)

I moved to Dubai,4 years ago, and all this time i have been working,
i never had credit cards or loans,but even that has not helped cos i don't have savings,you get money on one hand at the end of the month and it disappears in the other hand...its like we get paid and the money is taken in back...anyone in the same boat as me?


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## saraswat (Apr 28, 2012)

how much do you 'party' in a month ? ... loads of people end up with what you described because of the party/clubbing/brunch budget getting out of hand ...


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## Robbo5265 (Oct 23, 2012)

mamajed said:


> I moved to Dubai,4 years ago, and all this time i have been working,
> i never had credit cards or loans,but even that has not helped cos i don't have savings,you get money on one hand at the end of the month and it disappears in the other hand...its like we get paid and the money is taken in back...anyone in the same boat as me?


That's what Dubai is good at i.e. making you spend your money. During the Industrial Revolution in the UK you worked in a factory and only got paid in credits to spend at the factory shop ( at high prices set by the owner), sound familiar now?


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## stamboy (Apr 1, 2013)

At least your head is above water just! There are many people who owe money at the end of each month.


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## mamajed (Jun 1, 2013)

there are so many things one has to pay for and i will not go into details,but at the end of the first week of the month,your salary has gone under,am i alone in this?


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## Bigo (May 22, 2013)

To a certain point everyone is in the same boat and depend on the income level. I know expats who make 12K per month and complain the same issue and i know people who makes 50K per month and they are in credit. i dont know if you have a family but things will get tighter. Money made in Dubai is for Dubai this been the case since the 80s. no matter how much money you make it will go back somewhere else. now lets be realistic i travelled all over the world in the past 3 years and i heared the same everywhere, people in Canada suffer from taxes, UK the same , Asia the same. at the end of the day it goes back to you and no one but you. What do you want to do. i used to go clubbing every single day 5-7 years back now priorities changing iam starting a family so iam thinking twice. been in debt nearly 200,000 AED and now thanks God i have nothing except my car loan. unfortunetly rent takes big part of my money every month. we reduced going out big time, i invested in a good home with all entertainment options available so we can sit more at home, eating out is the biggest cost reduce this once a week is enough rest cook at home. recently iam following a new old school way in saving which is the envelope way. i have 4-5 envelopes , one for grocery , one for bills one for saving. put money in it at the begining of the month and forget it you have to have control over your spending behavior. this is the only way. everytime you think of buying a new gadget ask yourself do i need it ? and be honest with yourself. later on with kids you will have schools , medications....etc. its a tough life but we are all in the same boat. and trust me if you are getting your salary on time and not getting fired because of a downsizing or something you are much better than so many people....good luck buddy


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## Canuck_Sens (Nov 16, 2010)

You are for sure not alone, but I would never allow myself to get to where you are now. You cannot live like that for long. When you are within 10% of just getting by that should ring the bell and action must be taken to adjust things. 

You should make adjustments to save. What happens if you can't work or get unemployed ? Rule of thumb is that you need at least 6 months in savings just to cover all your expenses should you end up unemployed. You should try to save at least 30% of your earnings. You should also have some retirement plan.

I was reading in the newspapers that Indians save 70% of their earnings in the UAE. ( Although the sample was not big enough to have some stat significance) and that's a fantastic rate but also means huge sacrifices. Gotta find balance


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## desertjumper (May 3, 2013)

Asians (who are not laborers) spend it to amass real estate in their native countries or buy gold, is what I have heard. Makes sense, cos you cant stay in the UAE forever and real estate is a good place to invest unless.....


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## fcjb1970 (Apr 30, 2010)

desertjumper said:


> Asians (who are not laborers) spend it to amass real estate in their native countries or buy gold, is what I have heard. Makes sense, cos you cant stay in the UAE forever and real estate is a good place to invest unless.....


Where do you come up with something like that? First you are grouping the entire population of the the most populous continent into two groups, laborers and those who are not laborers. Next is the statement they are amassing real estate and gold in their native countries. Seriously? Sounds like a good story, but I don't think there are a lot of Asian land and gold tycoons running around the UAE. Far more that are just trying to squeak by and send some money home to support their families.


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## mamajed (Jun 1, 2013)

For the sake of our conversation,am married with a 2 year old boy who is about to start school,that adds to the budget...i don't drink,party or club...my husband works also...but we are facing the same challenge....


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## Canuck_Sens (Nov 16, 2010)

desertjumper said:


> Asians (who are not laborers) spend it to amass real estate in their native countries or buy gold, is what I have heard. Makes sense, cos you cant stay in the UAE forever and real estate is a good place to invest unless.....


Ahein, this is New Zeeeelander talk, you folks love real estate investments don't you? You gotta admit, if you believe that you cannot stay here forever, you will end up buying a property in a market you know in one point. Most would do that. And that's home unless it is overpriced like in Canada where everybody is trying to figure how the correction will take place and when in the market. I am certainlt among thise who wonder. Sure thing I am buying when it happens if it ever happens

The thing is why would you place your earned dollars under the mattres if you put it to work somewhere else?


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