The dream? Maximum savings with minimal effort. The reality? Not such an easy feat. The good news is that a few little tricks here and there can actually help you hold on to your savings, which will quickly add up before you know it. Read on for six tips on finally taking control of your finances.
Identify the Best Rewards Program for Your Lifestyle
It can be a confusing marketplace with so many credit cards offering a variety of incentive programs. To make sure that you’re really optimizing your credit-card spending, be sure to align your rewards with your interests. So, for example, if traveling is your thing, you’ll want to compare rewards programs that offer points towards food or travel as opposed to cash-back programs. Once you’ve narrowed down the program that best suits your lifestyle, be wary of the fine print. There can often be annual fees hidden in the contracts of many rewards systems, so be sure to ask plenty of questions before signing your name on any dotted line.
Buy Your Luxury Items on Sale
Your inbox can be your best friend when it comes to when and where to buy your next designer purchase. With websites like The Outnet, Saks Fifth Avenue OFF 5th, and Barneys Warehouse, you can browse luxury brands at amazing prices and indulge in special, limited-time offers.
Make Automatic Transfer Your Ally
Organize for a sum of money to be transferred into your savings account automatically each month and you won’t have to think about it. The money essentially won’t exist in your day-to-day financial thought process once it has been transferred. It doesn’t matter if it’s AED 10 or AED 10,000 – this will ensure you are saving at least some money every single month. Now the tough part: Do your best not to touch that money, no matter what.
Question That Membership
Life shouldn’t stop if you’re trying to save money, but a good first way to gain back some cash is to take a long, hard look at your current subscriptions. Okay, perhaps you can’t live without your Netflix account, but what about that expensive monthly gym membership? Are you using it? And can you possibly replace it with a free running routine?
Explore Free Events in Town
Dubai is filled with plenty of engaging – and free – events. A book and a trip to the beach also cost nothing. We’re big fans of Al Fahidi Historical Neighborhood, which is filled with museums and historical sights that make for a fascinating and fiscally responsible afternoon.
