With the New Year just about to ring in, there is much talk about resolutions. And alongside starting a new diet, losing weight or changing jobs, keeping finances in perfect health is on top of everyone's list.
Shabab Chinnakkal, an Indian design engineer thinks that his career has "stagnated", so he's looking to find a more rewarding job in his home country next year and invest there.
The married expat, 35, has his eyes set on India's property sector, which he believes can give more returns for his money.
"The real estate market there is booming and the demand is still steady... The job scene is also pretty robust and the companies are offering competitive packages, especially for professionals. I believe most of the Indians working abroad are in fact (thinking of the same thing)," he told Gulf News.
Robyn Mallalieu, 29, from South Africa doesn't have huge loans or debt to pay, so the New Year will be about building wealth and securing her financial future.
To further ensure that her finances are in tip-top shape, the married expat resolves to continue to stick to a budget and save as much as she can. She's also looking to boost her income by investing in shares and gold.
"It's taken me a while, but I feel that my finances are now in order. I don't have any debt and am focused on putting as much savings as possible away every month," she added.
Ramachandran Nair, 43, who works as a manager for quality development, admitted that getting a grip on personal finances can be a difficult task to accomplish, especially since the cost of living is rising and expats are faced with other financial responsibilities.
The married expat monitors his expenses on a regular basis, but he often fails to fulfill his "personal commitments". Although he maintains he doesn't have a serious problem to deal with in the money front, he still has a loan to pay and "monthly planning" can sometimes be a bit of a challenge.
To boost his income next year, Nair intends to put his savings in stock markets, life insurance and short-term bank deposits, but not after careful deliberation. He doesn't think real estate, as well as other investment schemes that provide returns only after a long term, is a good option.
"More importantly, I should plan my spending according to my fixed monthly revenue. There are plenty of options to make money, but I'll have to choose them wisely," he said.
"Every time I go on vacation, people approach me and encourage me to invest. I don't jump to invest immediately, [especially after finding that it will take 20 years to get the benefits]. I basically look at the short-term benefits," he said.
Mahesh Devji Sampat, 52, also doesn't believe in high-risk investments. The businessman prefers to invest his savings next year in secure plans like fixed deposits.
"These may give me less in return, but the capital is guaranteed. High-gain investments involve higher risks of losing all or part of one's savings and at this stage, I can't afford to watch my hard-earned money evaporate in the stock market or in a wrong [investment vehicle]," he pointed out.