You need to make savings a regular habit. Instead of saving whatever is left over at the end of the month, plan on saving – which is paying yourself – first. Set aside the amount you plan to save first before you start spending on everything for the month. Plan on this with your family, and this can be an exciting way to get everyone involved, once you have explained the benefits of saving money. Now, this is a great time to save, especially with the ADIB Ghina Program.

In order for you to make a regular savings plan and make a habit out of it, it’s best to sit down and prepare a budget – so you know exactly how much you want to spend, on what, and how much you want to save. A pre-planned budget will help you in allocating your spending and controlling on sudden bursts of unintentional spending. Don’t forget to set aside a regular amount to contribute to the ADIB Ghina Savings program – to be eligible to win AED 2 million!

"Don't save what is left after spending; Spend what is left after saving" - Warren Buffet

The best way to figure out how much you want to save is to set specific monetary goals. If there is a specific thing that you are saving up for, start by calculating how much you will need to save in order to pay for it. Next, figure out how much money you will have to set aside each month in order to reach that goal in a reasonable amount of time. If you are saving for something with a less specific monetary value (such as money for an emergency fund, your retirement, or just a healthy nest egg), then you should try and come up with a figure to shoot for (i.e. Financial experts often recommend having enough money in an emergency fund to cover at least 3 to 6 months worth of household expenses).

Yes, you can. There are a lot of retail outlets and shops that have reacted to the downturn in the economy by offering special sales incentives. You can get discounts on many every day items and as well on some electronics and white goods (washer/dryers, fridges, ovens etc). If you have an immediate need for any of these items, this would be a good time to purchase them – while they are on discounted sale.

Eating out and treating yourself is fun, and once in a while, it’s a good idea. But a quick and easy way to curb your spending – and start saving – is eating out less. Try eating in more often and packing yourself a lunch for eating at work. Besides saving money, making your own food can often be healthier too. You can save a lot by eliminating that expensive coffee latte habit. A lot of customers we know have been able to save around AED 300 a month just by reducing or changing their coffee habit. You san save on unnecessary and unused magazine subscriptions, tv channels you pay for but don’t watch, phone related expenses. These are every day things you can either curb or totally cut down on. And yes, they add up to your savings.