There are predictions of a recession looming as many people still try to recover from the financial effects of the Covid-19 pandemic.
And, unbelievable as it may seem, others are also still dealing with the aftermath of the 2008 global financial crisis, be it emotionally and/or financially.
Studies show that the emotionally negative effect of financial loss is far greater and lasts longer than the emotionally positive feelings generated by financial success.
Our brains are wired to remember bad experiences and suffering much more vividly and readily than positive experiences.
Many of my clients are reporting how they feel stressed and fearful about what’s going to happen. But, ever the optimist, I believe there is always a glimmer of hope or positivity if you look hard enough.
As individuals, we have little control over what happens to the global economy. But we do have control over our money choices, behaviours and mindsets.
As the old adage goes “charity begins at home”. Apply this to our finances and it rings true, as well.
We can play our part by using our money consciously and with intention. And not letting our fear-driven emotions run the show.
I acknowledge that fighting the rising cost of living is a daunting task but cutting costs and spending is one way to prevent debt in times of high inflation.
However, there is another layer we need to add to our financial toolbox - and that is investing.
If you are an investor, you are unlikely to get relief from the negative financial noise by looking at your portfolio right now. We are facing a bear market and share prices are falling.
But this is the glimmer of hope; a silver lining.
A bear market means stocks are on sale. All the best investors will tell you that now is the time to buy shares.
This is a significant opportunity for investors in the accumulation stage of their lives.
If you have extra cash sitting in a zero or low-interest bank account, it’s effectively losing its value. Now is the time to consider putting your cash to work so you not only retain its value and beat inflation, but also take advantage of the bear market.
If you are already investing, be mindful of your emotions. It can be a stomach-churning experience to see the value of your investments decrease, but it is vital that you don’t panic sell.
If you have done your homework and have a well-diversified portfolio, you will likely have planned for this.
Do your research and speak to experienced investors. It’s not the time to be speculative - in fact, there is never a good time to be speculative.
Make it as easy as possible for yourself and research low-cost exchange-traded funds (ETFs) and index funds with built-in diversification.
Remember billionaire investor Warrens Buffett’s advice: “Be greedy when others are fearful and fearful when others are greedy.”
Take advantage of current investment opportunities, but do your due diligence. Find someone experienced, level-headed and who isn’t receiving commissions to discuss your investment ideas.
Conscious Finance Coaching
Also think long term. Impatience is one of the biggest killers of your money and investments.
As Mr Buffett has said: “The stock market is a device for transferring money from the impatient to the patient.”
Investing is a marathon, not a sprint. Invest now and reap the rewards in more than 10 years. Your future self will thank you for your calmness and patience during these difficult times.
Carol Glynn is the founder of Conscious Finance Coaching
Citadel: Honey Bunny first episode
Directors: Raj & DK
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UNSC Elections 2022-23
Seats open:
- Two for Africa Group
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- One for Latin America and Caribbean Group
- One for Eastern Europe Group
Countries so far running:
- UAE
- Albania
- Brazil
Bangladesh tour of Pakistan
January 24 – First T20, Lahore
January 25 – Second T20, Lahore
January 27 – Third T20, Lahore
February 7-11 – First Test, Rawalpindi
April 3 – One-off ODI, Karachi
April 5-9 – Second Test, Karachi
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RACE CARD
6.30pm Mazrat Al Ruwayah – Group 2 (PA) $36,000 (Dirt) 1,600m
7.05pm Handicap (TB) $68,000 (Turf) 2,410m
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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Global state-owned investor ranking by size
1. |
United States |
2. |
China |
3. |
UAE |
4. |
Japan |
5 |
Norway |
6. |
Canada |
7. |
Singapore |
8. |
Australia |
9. |
Saudi Arabia |
10. |
South Korea |
Tree of Hell
Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla
Director: Raed Zeno
Rating: 4/5
Monster
Directed by: Anthony Mandler
Starring: Kelvin Harrison Jr., John David Washington
3/5
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Saudi National Day
Retail gloom
Online grocer Ocado revealed retail sales fell 5.7 per cen in its first quarter as customers switched back to pre-pandemic shopping patterns.
It was a tough comparison from a year earlier, when the UK was in lockdown, but on a two-year basis its retail division, a joint venture with Marks&Spencer, rose 31.7 per cent over the quarter.
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COMPANY PROFILE
COMPANY%20PROFILE
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Scores
Wales 74-24 Tonga
England 35-15 Japan
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Profile
Company name: Jaib
Started: January 2018
Co-founders: Fouad Jeryes and Sinan Taifour
Based: Jordan
Sector: FinTech
Total transactions: over $800,000 since January, 2018
Investors in Jaib's mother company Alpha Apps: Aramex and 500 Startups
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Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality
Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'
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THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
ICC Intercontinental Cup
UAE squad Rohan Mustafa (captain), Chirag Suri, Shaiman Anwar, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Saqlain Haider, Ahmed Raza, Mohammed Naveed, Imran Haider, Qadeer Ahmed, Mohammed Boota, Amir Hayat, Ashfaq Ahmed
Fixtures Nov 29-Dec 2
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Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
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Mission to Seafarers is one of the largest port-based welfare operators in the world.
It provided services to around 200 ports across 50 countries.
They also provide port chaplains to help them deliver professional welfare services.
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All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
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Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
Read more from Aya Iskandarani
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Hussein Ibish: Trump's order on solid constitutional ground
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COMPANY%20PROFILE
The stats
Ship name: MSC Bellissima
Ship class: Meraviglia Class
Delivery date: February 27, 2019
Gross tonnage: 171,598 GT
Passenger capacity: 5,686
Crew members: 1,536
Number of cabins: 2,217
Length: 315.3 metres
Maximum speed: 22.7 knots (42kph)
Like a Fading Shadow
Antonio Muñoz Molina
Translated from the Spanish by Camilo A. Ramirez
Tuskar Rock Press (pp. 310)
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Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.
- Sellers should focus on providing high-quality used goods at attractive prices to buyers.
- It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
- Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
- Be creative and look around your home for valuable items that you no longer need but might be useful to others.