How to save 60% of your income in the UAE

Gulf News

Gulf News spoke with Sharjah-based businessman K.V. Shamsudheen who has advised professionals and businessmen on how they can manage their budget to secure their future. Can a family of three, then, live on Dh1,500 a month in the UAE? Click here to find out: https://gulfnews.com/uae/can-a-family-of-three-live-on-dh1500-in-the-uae-1.63175336

Transcript

00:00Music

00:18Unless you decide yourself, nobody is going to help you to save money, to invest money.

00:25So first you decide yourself to have a comfortable life back home.

00:30I must save money now.

00:34I must invest that saving for the future.

00:38Music

00:41After spending you cannot save.

00:44So if you decide to save a particular amount,

00:48keep that amount aside and live with the balance amount.

00:55Music

00:58Always give a formula.

01:0230% of the income we must keep for the future.

01:0830% of the income we have to spend for our current life.

01:1530% we have to keep to build house, to educate our children and all.

01:23We have a 10% balance.

01:25Out of the 5% for entertainment, 5% for a small insurance.

01:32This is the thing.

01:33Music

01:37You have to, each individual has to control the expenditure within that.

01:44That is a culture we have to develop within us.

01:49Music

01:58All the segment of the people, all the income category of the people, they are doing it perfectly.

02:05Music

Category

Transcript

Recommended