5 Money Management Tricks That Can Help You Save More With Less

Effective financial management is crucial in the UAE, which boasts high living standards and luxurious shopping experiences in cities like Dubai and Abu Dhabi.

Fortunately, some money management tricks can help you save more with less effort. So, let’s explore the world of smart tools and tricks that can streamline your savings and spending.

How Can You Save More and Spend Less in the UAE?

Despite having the highest Global Digital Shopping Index (GDSI), some UAE residents wish to save money but need help finding a starting point. To help with that, here is your ultimate guide to saving more with less effort.

Automate Your Savings

Use auto-debit options to never miss to save your money every month. The best practice is to save first as soon as you receive your monthly income and then spend for your monthly expenses.

Switch to Rewards Credit Cards

Rewards credit cards provide valuable perks such as cashback, dining discounts, and travel rewards, making a significant difference in your lifestyle. For instance, First Abu Dhabi Bank’s FAB Elite Infinite Travel Card offers free travel rewards across 800+ airlines, 500,000+ hotels, car rentals, and mile transfers to other partners with exclusive discounts without international transaction fees.

Use Expense Tracking Apps

Fintech apps can help you plan your monthly budget and track your spending. These apps allow you to categorize your expenses, set budgets, and receive alerts when you exceed them. By visualizing your spending habits, you can identify areas where you can cut back and save more.

Save More on Bigger Purchases

Plan your expenses to buy in bulk wherever you can. For example, if you need detergent powder every month, then instead of buying small packers each month, you can buy it in bulk from the shops that offer bulk purchase discounts. This way, you not only save money but also easily reach your budget targets for the next month.

Use Loyalty Programs and Discounts

The UAE is home to discount seasons like the Dubai Shopping Festival. These programs offer exclusive discounts, freebies, and early access to sales. Explore and join these programs, whether provided by retailers, airlines, or malls. Over time, these discounts can translate into significant savings.

The Bottom Line

Managing your finances in the UAE requires a unique approach, considering the specific lifestyle and opportunities in the region. To save more efficiently, you can take certain steps, such as preparing monthly expense budgets, accumulating your savings month-on-month, and investing money in products that grow your savings over time.

It is crucial to understand that it's about saving money and making your money work smarter for you in this dynamic and exciting country. Start implementing these money management tricks today and see your savings grow while enjoying the UAE's vibrant lifestyle.