Opinion | Your Say
Have your say: Bank loans
Are you one of those who do not have any loans? How do you manage? We would like to hear about your best practices.
- Gulf News
- Published: 19:12 June 30, 2008
- Image Credit: Gulf News Archive
Are you one of those who do not have any loans? How do you manage?
We would like to hear about your best practices.
Tell us at readers@gulfnews.com or fill in the form below to send your comments.
Your comments
I'm a banker I dont believe in taking loans for advance spend and then pay later. I work in credit card dept. I use cr. card and pay the same day online.
Do not over spend save some part of your salary for unforseens.
Imran
Dubai,UAE
Posted: July 02, 2008, 10:54
PLAN YOUR BUDGET.USE DEBIT CARD ONLY.SPEND ECONOMICALLY.DONOT HAVE STATUS PROBLEMS.
Kanishk
Abu Dhabi,UAE
Posted: July 02, 2008, 10:53
Those having no loan they are the most happy people in the world.
Why you will pay interest for loan?
AZADUL
DUBAI,UAE
Posted: July 02, 2008, 10:42
I was obliged to take a loan and I am suffering now with the interest. I lost my job in 2007 and stayed jobless for 8 months. The bank was calling every single day threating to press charges if I don't pay. It was a nightmare.
Mohamed
Dubai,UAE
Posted: July 02, 2008, 10:39
While I was living with my mom I would see her sit down every month with a calculator to calculate how much would be taken from her salary and how much we could spend in the month. Honestly I don't know how she managed and looking back on those memories and on my math I just decided that I'd manage my expenses in a way that would allow me to save and invest rather than to spend.
Marie
Dubai,U.A.E
Posted: July 02, 2008, 10:37
I am working for a bank my self i can easily get a loan, but i am not in favour of having any liability. You should know how to manage your income with your daily Expenses.
Nikita
Dubai,UAE
Posted: July 02, 2008, 10:36
Yeah,car loan and personal loan coz the salary is nothing. Its like we are only working for the loan and for rent.
sheng
Dubai,UAE
Posted: July 02, 2008, 10:35
We choose not to have a loan, so as not to make our life miserable. But we do have one credit card and we intend to keep one only.
xyxy
Abu Dhabi,U.A.E.
Posted: July 02, 2008, 10:16
I do not have any bank loans but i can proudly say that thanks to my ex boss who taught me the art of saving 1/10th of my salary every month. Not only do you learn to manage with what you earn but also have a spare reserve (for a rainy day!!). Financial problems arise - if we do not learn how to budget and how to save.
E Fernandes
Dubai,UAE
Posted: July 02, 2008, 10:11
If I can't afford it, I go without! There's no need for a new car, phone, or TV every year. Yes, I have credit cards, but by careful budgeting I always pay off the balance and never pay any interest.
Grumpy
Dubai,UAE
Posted: July 02, 2008, 09:59
I have applied for a personal loan of AED 400,000 for my marrige. I have suffered a lot as i dont have any thing remaining from my salary to save. So I advice everyone to save and do what ever they want
Ibrahim
Ajman,UAE
Posted: July 02, 2008, 09:43
We do not have a loan. It is basically about living within your means. For each need, we have learned to check with ourselves if it is a must have or nice to have. We don't compromise on must haves but we go for the nice to have depending on our affordability.
Ms. John
Abu Dhabi,UAE
Posted: July 02, 2008, 09:43
It is easy to manage your income without a loan. You just have to think all your payables before you receive your salary. If you have excess money left then you can buy what you want. If you don't have any money left don't force yourself to buy it. Be content...
Mimay
Dubai,UAE
Posted: July 02, 2008, 09:11
I do not have any loans! Loan is like a slow poison. It frustrates and kills gradually. My family members 100% co-operation has made this loan-free life possible. We follow the "want not- waste not" rule
Prasad
Dubai,UAE
Posted: July 02, 2008, 08:57
I had loans before I came to this country. But I saved up and paid them off early. I don't have any loans now. I plan my budget carefully. I have a credit card for convenience only, but always pay the bill in full every month, so I pay no interest. I only buy things if I have the money beforehand.
Anita
Abu Dhabi,UAE
Posted: July 02, 2008, 08:55
fiscal discipline
not giving in to fads and unnecessary fancy stuff, for example you can keep your mobile phone for 4 years.
xx
Abu dhabi,UAE
Posted: June 30, 2008, 23:53
Every one can manage but it requires a very strong heart
abdul
dubai,UAE
Posted: June 30, 2008, 23:26
I have no loans at all. It is very easy to manage without a loan... Never take any personal loan as well as don?t ever default or delay your credit cards dues, these are vicious circles where you take the loan first and enjoy later and thereafter you make your life miserable by paying installments with a very high interest and then banks enjoy over it. These banks charge a very hefty interest plus other hidden charges and cost of loans.
Munawwar
Dubai,UAE
Posted: June 30, 2008, 20:45
I don't have any loan from any bank, because other wise it become more difficult to manage my income. I suggest manage ur outflow with inflow
Muhammad
Dubai,UAE
Posted: June 30, 2008, 19:43
If all banks withdraws Credit Card facility from UAE, i think almost 75% Expatriates will leave this country as they cannot survive without a Loan/Credit Facility.
RINESH
Dubai,UAE
Posted: June 30, 2008, 19:40
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