On a tight budget? 6 ways to save money in Dubai

We are accustomed to a tax-free lifestyle in Dubai. But if you find day-to-day living a costly affair that's draining your wallet, here are some key tips on how to live frugally in Dubai and save some money.

#1 Transport

The Metro runs regularly, is air-conditioned and can often be much quicker than sitting through some of Dubai’s traffic jams. So, this is perhaps the best mode of transport. Remember, you need to pay Salik, the road toll, if you are a car owner but you can skip paying the amount if you opt to take the Metro. Further, if you are happy to pay a few extra dirhams you can travel in gold class, for added comfort.

If you need a car, it probably makes more sense to buy rather than lease one. Buying a car, especially a used one, is not very expensive, although spare a thought for maintenance. Depending on the model, this can be expensive as the heat and driving conditions here can take a toll on your vehicle.

#2 Don’t eat out as much

We are spoilt for choice when it comes to eating out in Dubai. There are simply hundreds of restaurants. There is a strong culture of dining out when socialising, and for some reason, Dubai expats seem to do it more than most. Many of us will eat out or get a takeaway several days a week.

Cooking your own food can really save a fortune. If you do have to go out, opt for cheaper eateries, at least on some days of the week, or look out for deals and promotions.

Try taking a packed lunch into the office and put aside the money you would have spent on lunch every day. You will soon realise how much this is costing you and how much you could be saving.

#3 Check your bank accounts

Many banks have hidden charges. Make sure you read the small print. Be especially careful if you are using your offshore bankcard here, as they will often charge you up to 2 per cent to take money from an ATM.

Be aware of what your bank account is costing you generally.  A lot of banks require a minimum balance to be maintained in their accounts; if your balance falls short of this minimum, banks will charge you a fee.

#4 Look out for second-hand items

Dubai’s population is very transient and due to this, you can find excellent deals on all sorts of things from clothes to furniture, cars, baby goods, electronics, the list goes on. Check out popular deal websites that are loaded with us items for sale.

Also, make use of offer vouchers. There are various promotional offers that run throughout Dubai, from getaway deals to buy one get one free meals.

#5 Look for free entertainment

During the cooler months, leave behind the malls, where you might be tempted to spend money and opt for the beach or go to the park.

Dubai has numerous shopping festivals during which you will find several free shows and entertainment events such as music festivals. Some beaches also host free sporting events.

For families, deal booklets offer a range of discount coupons and buy-one-get-one-free vouchers to several, restaurants, entertainment parks, water parks and other local attractions.

#6 Make use of air-miles and flying club points

Many of the banks out here offer credit cards that reward you with air miles or points that give you a discount when you fly. These can come in really handy for expats who are known to fly more than most. Do shop around for the cards that offer the best deals as the points can soon add up and you can benefit from cheaper flights or even upgrades.

The wonderful thing about Dubai is that it can support a lifestyle that can be as expensive or as economical as you choose it to be. Be on the lookout for deals and discounts which can enable you to buy the things you want without paying full price for them. Also think before you spend. There is probably a cheaper more economical way.

The author is a private client adviser with AES International, Global Wealth Management (https://financial-advice-dubai.com). You can contact her @ jessica.cook@aesinternational.com

[Image via Shutterstock]

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