Are you planning to invest in one of the off plan projects in Dubai and you don’t have the money? Have you tried to save but you never get there? There are several ways to squirrel money away even without noticing. Even though they might seem like small amounts, if you maintain the habit for months and years, you can accumulate thousands of dollars.
To help you buy your dream house, here are tips to save even without noticing:
- Keep the habit of checking bank statements
Sometimes you can be spending your money even without noticing it. Have you checked your bank statements and noticed subscriptions, apps and other recurring items that you may have forgotten you were paying. Those small charges add up to hundreds of dollars each year that you can be saving. For instance, you can have an active subscription for a magazine you never read.
- Take advantage of technology
Nowadays, some banks are using technology to enable their clients to save small amounts of money in their everyday purchases. If you buy anything using debit card, the banks round up the price to the nearest whole number (or whatever parameter you set) and put the extra money in your saving accounts. For instance if you buy your grocery at AED 99.10, you will save 90cents.
iii. Renegotiate your bills and insurance
When the bills arrive in the mail, you realize that everything is almost a privilege. However, what people don’t know is that you can get a better deal than what you are currently paying. Spare an hour or two and review your home loan interest rates, credit card interest rates and utility rates and ask for a better deal from your providers.
- Buy and cook in bulk
Nowadays, life has become fast-paced and sometimes it is hard to think more than a day or two ahead. However, buying ingredients and preparing your meals in bulk is a good way to save on both time and money.
- Get a saving jar
Sparing change in the wallet or purse can be very annoying. So, you can make a habit of emptying coins and small notes in the saving jar. You will be amazed at how quickly it will add up.