There’s a lot of speculation about how we’ll be working and getting paid in the future – think 2040 and beyond. While all those dystopian TV shows and movies might help you to imagine what it could be like, we are already getting glimpses of the future in our daily lives. This is thanks to our increased reliance on automation and, of course, the mo…

What is the one thing you dread most about your job? For many, that could be asking for a salary rise – even if you deserve it. Experts say there is a right and a wrong way to ask your boss for a wage increase and you should start by being prepared before sitting down with your manager for the “salary talk”. This could include compiling your succes…

Knowing how to invest is an important skill to set you on the road to securing your financial future. Getting started, however, can be overwhelming if you are a beginner. While there’s a lot of advice on the likes of TikTok and YouTube, this is something you need to be wary about as many influencers are paid to promote investment services or are si…

As if rising interest rates and the cost-of-living crisis aren’t enough for investors to worry about these days. Despite all the talk of a bull market this year, stock markets continue their typical roller-coaster ride – one minute they’re in positive territory and your portfolio is in the black. And the next, they are impacted by a devastating cri…

It’s so easy to get caught up in the treadmill of life – chasing money, building our net worth, planning for retirement, supporting our families, working long hours and not spending enough time to do the things we’re passionate about with the people we love. It took the Covid-19 pandemic to make many of us realise that our work-life balance was muc…

The highs and lows of stock markets are often compared to a roller coaster ride – one minute, you’re on top of the world and making a profit. The next, it could all come crashing down and you start panic selling. Knowing how to keep our emotions in check while trading is an essential skill that investors need to learn, regardless of their experienc…

There are many reasons why we should have long-term financial goals – but perhaps the biggest is to ensure that we have a security net during our golden years. Working out what we want to achieve financially in our lives can be a struggle for some. Sure, there are the usual goals that many of us may aspire to – saving for a home and our children’s …

What are your plans for investing in gold for the rest of year? As many of you probably know, gold made a welcome comeback in April, jumping above $2,000 per ounce for the first time in more than a year. While the move was great news for gold investors, the bad news is that the precious metal typically rises during economic headwinds. In this case,…

In this special episode of Pocketful of Dirhams, we talk to the billionaire twin brothers who famously sued Harvard classmate Mark Zuckerberg for allegedly stealing their idea for Facebook. Cameron and Tyler Winklevoss, former Olympic rowers and founders of crypto exchange Gemini, first became famous after their legal dispute with Mr Zuckerberg, po…

As the summer holidays approach, have you started thinking about how to protect your hard-earned money while travelling abroad? There are numerous hazards to be aware of – from pickpockets to sophisticated bait and switch scams and online fraudsters, to name a few. But there are ways that you can protect your finances before and during your holiday…

Are you financially prepared for the Eid Al Fitr celebrations? There are numerous expenses associated with the holiday — such as gifts, new clothes, family gatherings, zakat and overseas travel. There is no doubt that it can be an expensive time of the year for many households in the UAE — particularly for those who have left it too late to set bud…

Have you ever wondered how finance professionals manage their own money? It can be difficult for many of us to manage our personal finances at the best of times, such as sticking to a budget, ensuring we have enough to cover our daily expenses and consistently saving for important financial milestones, such as a down payment on a home and retiremen…

Have you tried ChatGPT yet? There’s been a lot of talk lately about the chatbot developed by Open AI to generate human-like conversations with people on a range of topics – big or small. There’s no doubt that many of you – like me – have already tried it and found that its potential is wide-ranging. Over the past few years, low-cost investment robo…

It’s that time of the year when many employees can expect a salary rise and bonus. On average, salaries in the UAE are expected to rise by 2 per cent to 5 per cent, although this depends on the sector you are working in and your role. According to a recent survey by jobs portal Bayt.com, 53 per cent of professionals in the UAE expect to receive a s…

It’s been a tough year on our personal finances — from record-high global inflation to rising interest rates and an increase in borrowing costs for consumers. There are also strong warning signs that a global recession is looming. But, as we head into 2023, now is a good time to review your finances and plan ahead. This is to ensure you begin the N…

It can be an extremely stressful time if you lose control of your debts and can no longer keep up with monthly instalments on credit cards or loans. There are many reasons why debts can spiral out of control — from losing your job to facing a medical emergency, or even spending beyond your means. Whatever the reason, there are consequences — after …

The UAE’s Unemployment Insurance Scheme took effect earlier this month, giving all Emirati and foreign employees in the country a vital cash safety net if they lose their job. The mandatory social security support system is based on 60 per cent of an employee’s basic salary and is capped at a maximum of three months, the Ministry of Human Resources…

Buying property is one of the biggest financial commitments that we will make in our lives. But getting on to the property ladder can be difficult for some — saving for a deposit while also meeting other expenses can take years, more so these days as property prices quickly rise and mortgages become more expensive due to central banks raising inter…

It has been a difficult year for cryptocurrency investors. Bitcoin has plunged from a record high of about $68,000 last year to trade in the $19,800 range on Monday, while the cryptocurrency sector's market capitalisation has again fallen below the $1 trillion mark. Analysts warn that the cryptocurrency roller coaster ride is far from over, dragged…

The government’s overhaul of visa regulations last September means that teenagers aged 15 to 18 can now work part-time in the UAE, giving them an opportunity to earn a regular salary and learn some vital life skills at the same time. Those skills can include anything from money management to time management, as well as building confidence, instilli…

As the UAE’s property market continues its strong recovery from Covid-19 pandemic-induced headwinds, recent changes to the country’s visa rules have opened up long-term real estate investment options for residents wanting to put down roots in the Emirates. While average property prices in Dubai rose by 10.9 per cent, year on year, last month, resid…

It's difficult at the best of times to stick to a budget — not only do you have to fund your daily living expenses, but there’s also paying down debt and meeting important savings goals to set you on the path towards a secure financial future. For parents, there are also expensive education costs to consider, as well providing for their children. B…

Buying a new or used vehicle can be an overwhelming experience for many — especially if you know very little about cars and what to be aware of before making a commitment. But cutting through the noise of slick sales talk and the many deals that are on offer in the UAE — which typically include extended warranties, free service packages, insurance …

Protecting our finances online has become more difficult since the start of the Covid-19 pandemic, when we switched our lives online to work, study and shop from home during movement restrictions. The recent spate of true-crime documentaries on streaming services, including Netflix’s The Tinder Swindler, Bad Vegan and Inventing Anna, have served to…

Salaries, hiring and workplace trends have been some of the biggest concerns for employees since the Covid-19 pandemic began two years ago. From temporary furloughs to salary cuts and working from home, it has been a difficult experience for many people around the world. However, the jobs market in the UAE will continue to recover in 2022 as busine…

Personal finance expert and author Andrew Hallam has inspired expatriates around the world to invest more effectively through his international bestselling books Millionaire Teacher and Millionaire Expat, which detail his journey about how he built a million-dollar portfolio of low-cost exchange-traded funds on a teacher’s salary. Hallam, who start…

With so much talk about stagflation, inflation, stock market bubbles, the Covid-19 pandemic and the supply chain crunch, investors have every right to feel jittery these days. And as central banks start preparing to withdraw their pandemic stimulus measures, now is the time to put your investment portfolio through a stress test to help protect your…

Almost everybody has dreamt of one day winning a life-changing amount of money. For most, however, it remains nothing more than that: just a dream. But for Junaid Rana, a 36-year-old Pakistani driver who grew up in Dubai, that dream became reality when he won Dh50 million ($13.6 million) after entering a Mahzooz weekly draw last month. He’s gone fr…

“Money doesn’t grow on trees” is an expression we have all heard at some point in our lives. It might be something our parents told us or we tell our own children when they demand things that are too expensive. The transformational coach and yoga teacher Esra Ogut, author of Money Does Grow on Trees: The Myths We Create and Live By, says the revers…

If there’s one lesson that the Covid-19 pandemic has taught us, it’s that being financially secure during times of uncertainty is crucial. This includes having a financial safety net to protect against job loss or other unforeseen events, as well as saving and investing for the future. But money skills continue to lag, according to a 2019 financial…

Video game players have discovered a lucrative side hustle – earning cryptocurrency by signing up for play-to-earn games. One of the most popular play-to-earn games is Axie Infinity, which allows players to accumulate tradable cryptocurrency coins. In fact, it’s become a financial lifeline for many gamers who have lost their jobs in countries such …

Building up an emergency fund to ensure you are protected against any financial surprises is one of the golden rules of personal finance.But once that emergency fund has hit its target of about three to six months’ of your monthly expenses, what should you do with the rest? While many choose to invest their money to grow their net worth over time, …

Over the past 18 months, the world has changed more than anyone could have predicted. The Covid-19 pandemic brought the world to a standstill, shutting businesses, schools, offices and shopping malls, and confining millions to their homes for long periods of time. While many saw their incomes dwindle or lost their jobs altogether, others boosted th…

Numerous studies around the world are indicating that a four-day working week can be successful, leading to an increase in productivity and happier, healthier employees as the work-life balance improves. Governments and private companies in countries such as Spain, New Zealand and Iceland have been experimenting with a reduced working week without …

The UK’s property market experienced a mini-boom during the pandemic with house prices rising 8.5 per cent last year. This was in sharp contrast to Britain’s wider economy, which was hammered by the fallout from the Covid-19 crisis as the country endured a series of lockdowns. While a stamp duty holiday helped to propel the market upwards, easier a…

Trust is key in any relationship, but when it comes to your money you need to be sure the person offering you advice is 100 per cent reliable. The relationship between the UAE financial advisory sector and resident investors has been dented in recent years due to the mis-selling of expensive savings, investment and life insurance products. A number…

Interest in trading has surged during the Covid-19 pandemic, with retail investors flocking to platforms such as Robinhood and Etoro to buy and sell stocks. With time on their hands during movement restrictions and extra money to invest after a series of government stimulus packages, retail traders around the world have embraced the "gamification" …

If there is one lesson the Covid-19 pandemic has taught us, it is to be financially prepared for once-in-a-lifetime events. In a world where living beyond our means and being in debt has become the norm, setting up a financial safety net to protect our personal finances during economic downturns, such as the Covid-19 pandemic, can be difficult for …

As the popular saying goes: money does not grow on trees. But wealth can grow through careful money management. While getting on top of your finances may seem like an insurmountable task for some, taking control and being consistent will help you turn a time-consuming chore into a habit you actually enjoy. From tracking your expenses to following a…

It’s hard to pick up a newspaper these days without some reference to cryptocurrencies on the pages. But for some, the world of crypto assets and Blockchain technology seems like another language. Since Bitcoin was first created after the 2008 financial crash, cryptocurrencies have multiplied, along with their value. While the rise and fall of cryp…

While the start of 2021 was bleak, with the world still in the grip of a pandemic that had already ravaged major economies, the outlook now is more positive. There is a sense of hope, thanks to rapid progress on the vaccination drive and coronavirus restrictions easing once again. The global recovery is backed by huge levels of monetary and fiscal …

The topic of salaries can be a sensitive subject between couples, but what should spouses do if their partner earns more or less than they do?There are a number of issues for couples to be aware of in this situation, such as some partners believing they deserve a bigger say in shared finances because they earn more, which could lead to resentment. …

Consider this: You’ve just received a promotion and a pay rise at work. But what plans do you have for that extra money? Will you save it – or will you spend it? For some, saving is the obvious way forward because they are happy to live within their means on their old salary and anything extra is a bonus to secure their financial future. But for ma…

While the Covid-19 pandemic has changed the way we live and work, it has also accelerated our switch to using contactless cards and e-wallets to pay for goods and services. Millions of people have opted for cashless payments since global lockdowns came into force in March last year amid concerns about the spread of infection through bank notes and …

It’s been more than a year since our 2020 travel plans were disrupted because of the Covid-19 pandemic – and many of us are keen to get back in the air, visit family or take a well-deserved holiday. With vaccination programmes now in place in many countries around the world and travel corridors opening up, it's time to start planning our summer vac…

The UAE property market is buoyant once again after changes to mortgage rules and new visa programmes for expatriate retirees and foreign investors boosted sentiment in the sector. Dubai property transactions hit their highest level since 2010 in the first quarter of this year, according to ValuStrat. The positivity in the market is encouraging man…

It’s all very well to keep your personal finances to yourself when you are single. But what happens if you continue this habit when you are married? Financial infidelity can have a devastating effect on a marriage and create huge trust issues between couples if one of them is not honest about money. From hiding purchases to having a secret bank and…

When a group of debt experts sat around a conference table at The National’s office in Abu Dhabi five years ago, they never imagined the discussion would help to ease the debt problems of hundreds of UAE residents. At the time, banks were inundated with borrowers unable to repay their liabilities because they could no longer take on fresh credit fo…

Becoming a millionaire is a dream for many – to have the financial freedom to never worry again about paying bills or living from pay cheque to pay cheque. But reaching that $1 million mark is easier said than done. It takes patience, discipline and a "millionaire mindset" to reach your financial goals. It’s also about having a long-term investment…

While saving and budgeting are important habits to teach children when they are young, financial experts say generosity and gratitude are also essential components of financial literacy programmes. Understanding the importance of giving back can lead to positive affirmations for children, making them feel as though they can make a difference in the…