Everyone has a budget in mind. Some even have excel sheets. If you stumbled upon this article, you are probably in dire need of saving motivation and help. We list the top five budget-busters that you need to avoid to start saving more.
ATM service fees by non-customers
You don’t feel like you are spending too much each time you use ATMs that are not on your bank's network? Think again. If you cannot switch banks to ones that are more convenient to where you live or work, schedule your withdrawals to when you are near your bank’s ATM. Out-of-network ATM fees are Dh2 per transaction here in the UAE. That's almost Dh200 a year if you use a different ATM at least twice a week.
Quenching your thirst is of paramount importance no matter where you live. It is recommended to drink at least two litres of water daily, but doing this by buying water bottles everyday is not wise. That’s at least Dh2,500 spent in a year, just on bottled water everyday for five days a week. That's the cost of up to two return tickets home - bring your water bottle and refill in the office.
Subscribing to satellite or cable TV racks up payments, from Dh110 for a basic package to Dh599 for a full monthly package, but if you’re just watching Suits, Game of Thrones or Prison Break over and over, paying for cable is not necessary. It would be better for your wallet to get services such as Netflix (just at around Dh37 per month) or get the basic package with internet access for YouTube and movie streaming services online.
Daily caffeine shots
Your daily Dh12 latte can brighten up your morning, but it does very little for your budget. Consider buying your own coffee maker like a French press so you can brew your favourite coffee at home and take with you during your commute. A bottle of coffee granules or tea bags, which you can use with hot water while at work, is a better alternative.
Craving cappucino? All you need is a Dh4 coffee beater from Ikea. It is smaller and thinner than your hair brush - so carry it to work, froth up some instant coffee and milk for some 'office-made' cappucino.
Mobile service subscription
Do not be pressured to sign up for 12 or 24-month contract to always be online or ready to make calls. Du and Etisalat offers different daily, weekly and monthly bundles so you can be active on social media, do some surfing and make calls both locally and internationally.