How To Avoid Going Broke
 

A reasonably sensible article about the monetary aspects of expat life for those about to come to Dubai or have just arrived here.

http://gulfnews.com/about-gulf-news/...roke-1.1136919

Re: How To Avoid Going Broke
 

I like the last bit about Saver's Remorse !

Re: How To Avoid Going Broke
 

Golden Rule: imagine you are still in the UK, and save/invest what you would otherwise have given to the taxman......... do not come out here expecting to be better off now - expect to be better off in the future..........

Re: How To Avoid Going Broke
 

Whats the fun in that, yer only young for a short time:p

Re: How To Avoid Going Broke
 

You must be the "Richard" mentioned in that article............

Re: How To Avoid Going Broke
 

Surely it all comes down to living within your means, it isn't rocket science! It's not like western people are living on the breadline here, if you have got in debt it's because you've been greedy and stupid. Can I afford it- yes or no? Personally I will never have a credit card for anything other than online payments which gets paid in full each month. To come here and get in debt - well more fool them.

Re: How To Avoid Going Broke
 

In my opinion, this article seems is promoting the services of the FA industry, especially as using "Richard" and "Dev" 2 extreme examples. Anybody who goes into debt voluntarily will be a plank either in the Middle East, UK or Timbuktu !

Re: How To Avoid Going Broke
 

The article reads like it was written by a 4yr old child.

Re: How To Avoid Going Broke
 

What a poncey, arrogant comment. Who do you think you are? It obviously means that most Dubai expats here are 4 yr olds because one helluva lot eventually go back home empty handed.:frown:

Re: How To Avoid Going Broke
 

Written by a four year old, not lived as a four year old or as it seems in your case the reading and comprehension level of a four year old.

Re: How To Avoid Going Broke
 

It wasn't me.

Re: How To Avoid Going Broke
 

Wrong again, Mentalman - he was talking about the writing style of the article (how/why do you get everything so consistently wrong?)

I have no sympathy for Richard:

The 42-year-old has no children, but has racked up a combined debt of Dh210,000 on five credit cards, and has a Dh90,000 car loan. His rent, food and bills take up most of his Dh24,000 paycheque, with nothing left at the end of the month.

If I was earning only 24,000, I'd be on the next plane home...........

Re: How To Avoid Going Broke
 

:amen:

Re: How To Avoid Going Broke
 

I remember that old joke that went the rounds in colonial hangouts, "I came here with absolutely nothing and I still have most of that."

Re: How To Avoid Going Broke
 

If Dubai expats can't work out that you need to spend less than you earn, then I fail to see how they're not 4yrs old (or at least behaving like one)?

Re: How To Avoid Going Broke
 

Who's to say what is fun or not? Not spending every penny you earn and living within your means is just sensible...spending money isn't the only way to have fun.

N.

Re: How To Avoid Going Broke
 

It's not a good article, but advising people to live within their means is a cornerstone of the Financial Services industry...debt management and everyday money management is something I've had to help a few clients with - in the end they are better off for it and leave the UAE with something rather than nothing or debts.

Some people are just not sensible when it comes to money and need help.

N.

Re: How To Avoid Going Broke
 

Is that not just for anyone anywhere in the world?!

Re: How To Avoid Going Broke
 

nope - the difference is that there is an army of IFAs here helping you 'save' it.

Re: How To Avoid Going Broke
 

Hmm, indeed.

I'm not tempted by pensions. I don't think I'll live beyond 40.

Re: How To Avoid Going Broke
 

That was my attitude, until I reached 39 and a half ;)

Re: How To Avoid Going Broke
 

I had the same attitude about the year 2000... It will never get here, couldn't possibly... couldn't imagine myself 42:eek: Yet here I am.:huh:

Re: How To Avoid Going Broke
 

I just turned 25. I feel ancient.

Re: How To Avoid Going Broke
 

There is an army of salespeople here! The vast majority are really not IFAs, just commission hungry, unqualified, inexperienced policy-floggers. :frown:

And you can't get an actual pension here either. Call it what you like, it's just savings and that's generally a good thing.

UK pensions aren't so bad as there is tax relief on the contributions, but that's largely irrelevant to most expats. There is also now more flexibility regardingtaking benefits, but what makes the difference is having them managed properly.

The sad fact is that most people are no savings anyway near enough for their futures - by any means. And any method of saving has validity. (I'm having internet problems & can't open the article, but can guess the content. My last blog article was along similar lines.)

Re: How To Avoid Going Broke
 

The bit in red is what I mean, to me 'pension' = saving for the future.

I'll start soon and when I have money or plans I know who I'll call! :thumbsup:

Re: How To Avoid Going Broke
 

Some people will do anything to get their hands on my Sweet Chilli Jelly... ;)

Re: How To Avoid Going Broke
 

I've missed the last several Arte's.

I have none of this jelly left. My sarnies are also pickle-less because let's face it, Branston can sling their hook compared to local good stuff.

Anyway, I've been working hard like a good Scamp and bonuses coming will clear the final touch of debt. Then it's house deposit saving time.

Re: How To Avoid Going Broke
 

As this is a more interesting topic than finance - we're doing the market at DUCTAC (MoE) on 6th April, as well as the next Times Square ARTE on 12th April. :)

Not much 'Branstone' left and it'll take a break for a couple of months, but there are plenty of others.

Re: How To Avoid Going Broke
 

Thinking again, I didn't get the Branston one you do, it was a different one. Still went in sarnies and still made them better. Can't remember what it was now. Long gone.

DUCTAC - what is this?

Re: How To Avoid Going Broke
 

I think you had a Christmas Chutney.

DUCTAC - Dubai Community Theatre & Arts Centre. Second floor of MoE, entrance from car park at ski end. They are running a market on 6th April, so there'll be lots of stalls.

http://www.ductac.org/thingswelike/