Ways to save money



1 Review weekly shopping bills. 

Ask yourself if you need to buy all your food from supermarkets and smaller convenience stores. Many products, especially fresh fruit, vegetables and other produce, are much cheaper at the larger hypermarkets. Switching shopping habits can save hundreds of dirhams each week in food costs.

2 Switch insurers. 

Shop around websites and brokers to see if you are paying too much for your car, home or life insurance. Likewise, if you have a mortgage or car loan, it's worth investigating whether you can get a cheaper rate elsewhere.

3 Consider car pooling. 

For commuters who drive to work by themselves, it may be worth considering car sharing, especially for those who make the daily journey between Dubai and Abu Dhabi. Sharing the driving can reduce petrol and Salik costs.

4 Cut back on nights out without curtailing your social life. 

Friday brunches and nights out can eat up a significant amount of monthly salaries, with some top brunches costing more than Dh350 per person, equating to nearly Dh3,000 a month for a couple going out every Friday. For those reluctant to contemplate the idea of staying in, trips to the cinema or the ice rink are inexpensive alternatives for evenings out.

5 Invest wisely. 

Although trimming expenditure is important, there is little point in building up huge sums of money while interest rates are low. This is because inflation can erode the spending power of your savings, effectively reducing their value. Instead, use your money more wisely by considering some of the lower-risk investments available as well as the riskier direct investment into the equity markets. Before looking to invest, it is a good idea to ensure sufficient cash reserves are in place in the event of an emergency, typically equal to six months' income. Now is a good time to review any existing investments in place to ensure that the overall asset allocation is aligned to attitude to investment risk.

6 Prioritise cutting debts. 

Review any outstanding debts such as credit cards and repay if possible because the interest charged on the debt is likely to be higher than the interest received for any cash in the bank. If you can't afford to repay the debt immediately, examine the terms of the debt to see whether you are able to increase payments each month to reduce the time it takes to repay.

* Tips courtesy of Darren Ashley, the managing director of Candour Consultancy, and Sarah Lord, the wealth planning director for Killik & Co.

F1 drivers' standings

1. Lewis Hamilton, Mercedes 281

2. Sebastian Vettel, Ferrari 247

3. Valtteri Bottas, Mercedes 222

4. Daniel Ricciardo, Red Bull 177

5. Kimi Raikkonen, Ferrari 138

6. Max Verstappen, Red Bull 93

7. Sergio Perez, Force India 86

8. Esteban Ocon, Force India 56

The specs

Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)

PROFILE OF CURE.FIT

Started: July 2016

Founders: Mukesh Bansal and Ankit Nagori

Based: Bangalore, India

Sector: Health & wellness

Size: 500 employees

Investment: $250 million

Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)

If you go:
The flights: Etihad, Emirates, British Airways and Virgin all fly from the UAE to London from Dh2,700 return, including taxes
The tours: The Tour for Muggles usually runs several times a day, lasts about two-and-a-half hours and costs £14 (Dh67)
Harry Potter and the Cursed Child is on now at the Palace Theatre. Tickets need booking significantly in advance
Entrance to the Harry Potter exhibition at the House of MinaLima is free
The hotel: The grand, 1909-built Strand Palace Hotel is in a handy location near the Theatre District and several of the key Harry Potter filming and inspiration sites. The family rooms are spacious, with sofa beds that can accommodate children, and wooden shutters that keep out the light at night. Rooms cost from £170 (Dh808).

COMPANY PROFILE

Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends

EMIRATES'S REVISED A350 DEPLOYMENT SCHEDULE

Edinburgh: November 4 (unchanged)

Bahrain: November 15 (from September 15); second daily service from January 1

Kuwait: November 15 (from September 16)

Mumbai: January 1 (from October 27)

Ahmedabad: January 1 (from October 27)

Colombo: January 2 (from January 1)

Muscat: March 1 (from December 1)

Lyon: March 1 (from December 1)

Bologna: March 1 (from December 1)

Source: Emirates

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal

Rating: 2/5

UAE currency: the story behind the money in your pockets
WTL SCHEDULE

DECEMBER 19 (6pm)
Kites v Eagles
Aliassime v Kyrgios
Swiatek v Garcia
Entertainment: Tiesto

DECEMBER 20 (6pm)
Falcons v Hawks
Djokovic v Zverev
Sabalenka v Rybakina
Entertainment: Wizkid

DECEMBER 21 (6pm)
Falcons v Eagles
Djokovic v Kyrgios
Badosa v Garcia
Entertainment: Ne-Yo

DECEMBER 22 (6pm)
Hawks v Kites
Thiem v Aliassime
Kontaveit v Swiatek
Entertainment: deadmau5

DECEMBER 23 (2pm)
Eagles v Hawks
Kyrgios v Zverev
Garcia v Rybakina
Entertainment: Mohammed Ramadan

DECEMBER 23 (6pm)
Falcons v Kites
Djokovic v Aliassime
Sabalenka v Swiatek
Entertainment: Mohammed Ramadan

DECEMBER 24 (6pm)
Finals
Entertainment: Armin Van Buuren

The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

COMPANY PROFILE

Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)

SPECS

Engine: 2-litre direct injection turbo
Transmission: 7-speed automatic
Power: 261hp
Torque: 400Nm
Price: From Dh134,999

KEY DATES IN AMAZON'S HISTORY

July 5, 1994: Jeff Bezos founds Cadabra Inc, which would later be renamed to Amazon.com, because his lawyer misheard the name as 'cadaver'. In its earliest days, the bookstore operated out of a rented garage in Bellevue, Washington

July 16, 1995: Amazon formally opens as an online bookseller. Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought becomes the first item sold on Amazon

1997: Amazon goes public at $18 a share, which has grown about 1,000 per cent at present. Its highest closing price was $197.85 on June 27, 2024

1998: Amazon acquires IMDb, its first major acquisition. It also starts selling CDs and DVDs

2000: Amazon Marketplace opens, allowing people to sell items on the website

2002: Amazon forms what would become Amazon Web Services, opening the Amazon.com platform to all developers. The cloud unit would follow in 2006

2003: Amazon turns in an annual profit of $75 million, the first time it ended a year in the black

2005: Amazon Prime is introduced, its first-ever subscription service that offered US customers free two-day shipping for $79 a year

2006: Amazon Unbox is unveiled, the company's video service that would later morph into Amazon Instant Video and, ultimately, Amazon Video

2007: Amazon's first hardware product, the Kindle e-reader, is introduced; the Fire TV and Fire Phone would come in 2014. Grocery service Amazon Fresh is also started

2009: Amazon introduces Amazon Basics, its in-house label for a variety of products

2010: The foundations for Amazon Studios were laid. Its first original streaming content debuted in 2013

2011: The Amazon Appstore for Google's Android is launched. It is still unavailable on Apple's iOS

2014: The Amazon Echo is launched, a speaker that acts as a personal digital assistant powered by Alexa

2017: Amazon acquires Whole Foods for $13.7 billion, its biggest acquisition

2018: Amazon's market cap briefly crosses the $1 trillion mark, making it, at the time, only the third company to achieve that milestone

Bridgerton season three - part one

Directors: Various

Starring: Nicola Coughlan, Luke Newton, Jonathan Bailey

Rating: 3/5


On The Money

Make money work for you with news and expert analysis

      By signing up, I agree to The National's privacy policy
      On The Money