Business | General
Indian expats saving up to 70% of disposable income in UAE
Most NRIs trust family instead of professionals when seeking financial tips
May be the people who participated in this survey were confused with the word 'Disposable Income'. Because of the present cost of living most of the people can save only 10 to 15 Percentage of their total income. Anybody having commonsense can understand the reliability of this survey at first sight. So kindly request you to do not publish any survey results which will adversely affect the specified community.
Anil, Cheruvalloor, Kollakadavu, Dubai, United Arab Emirates
I having a decent job with good enough salary. I will make my life happy with my family by spending money wisely. Before I am going out for shopping & Dining once in a week, but now I changed the frequency to once in a month. Me with my wife took decision to cut all additional unwanted expenses to save enough money for our kids education and our future life. Because of insecurity of job and wealth we have to be very alert. Now I am not spending any money to buy electronics, computers, Mobile Phones because they don't have any resale value. I will spend money to buy materials in which is having resale value and we can easily convert to money easily also. Otherwise we are working here, spending all of your earnings here then how we can survive in our old age? So I have to advice all, especially youngsters, think twice bfore spending money...!
Anil, Cheruvalloor, Kollakadavu, Dubai, United Arab Emirates
Thanks for the advice! After seeing the results from western countries and Europe, these financial advisors moved to Middle East. Sincerely to all expats should manage and note that the best friend of your wealth is themself and then family and friends. Is it possible that someone else have more concern than yourself!? Asian community here is well aware of their responsibliities, take care of their dependants and can manage their finances.
Farha, Dubai, United Arab Emirates
I usually spend 100% of my disposable/discretionary income. That is because I always set aside the savings from my income first, then the amount for necessary expenses....
Tsar, Dubai, United Arab Emirates
I dearly agree with Vicky’s comments. It’s very true that UAE has encouraged us into better living conditions in a safe environment. I’m here past 10 years & believe me I really take UAE as my second home. If I had enough resources I would not hesitate to buy my home here itself. Now the critic part where I somewhat disagree, it’s that you & me correctly know this information is not really categorized to middle income earners which is highest bracket of critics here. I’m not persuading that you are wrong but when you have kept your views let others also keep their comments or views even if its in form of criticizing the whole report. Lets enjoy each views as per their perspective towards income or saving.
Jatin, Dubai, United Arab Emirates
This is not true. In reality Indians dont believe in the financial experts or wealth management professionals. Yes I also prefer to invest elsewhere or with the advise of my relative rather than so called financial experts who dont even bother to answer your phone calls once the product has been sold. I have had this personal experience and I would surely pass on the same advise as to many as possible. Better to invest in old school activity of buying sites, houses etc rather than getting in to some investments which has to do with share markets and lose hard earned money. Reason = poor customer service from wealth management. Yes I am one of the victims !!
Lokesh, Dubai, United Arab Emirates
This is an interesting article and while I have to admit that 70% is quite a high figure to save, a decent amount is set aside for savings on a monthly basis. I am not among the high income brackets but with my wife working and ensuring sensible spends, not compromising on basic leisure and entertainment, we are able to save well. During my bachelor days in Dubai when the salaries were lower, I was still able to save around 35 to 40% of my income. UAE gives you the opportunity to splurge but I firmly believe that one must cut his coat according to his cloth. Speaking to the critics who have responded, even if they are not able to save anything, I am sure the standard of living is far greater here than back home. I have a simple calculation to understand the purchasing power of ones salary here versus back home. In the case of a bachelor, If I draw a salary of AED 5000 and assuming that I spend AED 2000 for rent and food (This can be achieved although with a bit of struggle) I can purchase the following – A 40” LCD, DVD Player, Refrigerator, Mixer, basic utensils with my 1 month’s salary If I draw the same salary in India - Rs 72500 (lets say Mumbai)– After Tax deductions, I would probably receive RS 55000 in hand Assuming that I spend RS 15000 on rent and food (This may be less but let’s take an average) I can purchase a 40 inch LCD and that’s it. If managed well, we can save well in UAE but if we get carried away looking at the posh lifestyle of others then I must say We will be axing our own feet. My fellow brother who mentioned in one of his comments was earning AED 10000 per month and not being able to save anything, is like having oxygen all around and not knowing how to breathe.
Anup, Dubai, United Arab Emirates
That's gross exaggeration.
Saqib Ahmed, Dubai, United Arab Emirates
This is impossible
Sarah, Dubai, United Arab Emirates
Hardly May be 7%, but no ways 70%.
Mohammed, Sharjah, United Arab Emirates
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