New research by YouGov has found that more than half of UAE residents have cut non-essential spending over the past six months, while 77 per cent will continue doing so in the future.
That’s no surprise considering the global economic impact of the Covid-19 pandemic, which caused widespread pay cuts and job losses as businesses closed and millions of people started working from home.
According to the YouGov study, residents' top financial priority this year is to save money for unexpected hardships in a bid to financially protect themselves and their loved ones in case of an emergency.
But, as economies begin to re-open, the temptation to return to our old spending habits will be difficult to resist for some. One way to stay on track with your spending is to take on a no-spend challenge, which could help you learn new ways to save money and instil discipline to fight off those spending temptations.
Host Felicity Glover is joined by Carol Glynn, founder of Conscious Finance Coaching, who offers her advice on the best way to plan for a no-spend challenge.