Jeremy Cole cleared his credit card debt with a bang.
Once he fully paid the US$13,000 (Dh47,746) debt on three cards, Mr Cole, who lived in the US state of Georgia, drove over to neighbouring Alabama and purchased firecrackers - they were illegal in Georgia. He strapped them to his Visa, Mastercard and Discover cards and watched the sparks and plastic fly.
"It was in my backyard and I watched them blow up. Boy, it felt good," says Mr Cole, who held this pyrotechnic display back in 2006. One year later, the airline pilot moved to the UAE with a commitment to keep his finances under control. Mr Cole, now 35, says his free-spending youth has taught him a great deal about living within his means.
His financial troubles began in 2001, not long after he graduated with a degree in aviation technology from Le Tourneau University in Texas. Mr Cole felt flush with cash when he started his first airline job, with Delta Connection.
"I knew I'd make a good living as a qualified pilot, and when you're in your early 20s, you're not exactly the most financially astute person on the planet," he says. "I wish I'd spent less money instead."
With what he describes as a "reasonably well-paying job", Mr Cole lived for the moment and spent little time thinking about the future.
But five years into his job, he had built up $13,000 in credit card debt.
"I had $5,500 on one, U$3,500 on the second and $4,000 on the last one," he remembers.
Mr Cole claims his outgoings weren't extravagant, but the debt kept increasing while his savings remained at the bare minimum.
"I mainly spent on food and on my car," Mr Cole says.
"I used to eat out everyday and would easily spend about $900 a month on food. At one point I also had two cars. Basically, I was just living above my means and being careless with my money. I saved 5 per cent every month as part of the 401(k)," he says referring to the American pension plan that allows workers to save for retirement.
"But that was it."
Although the debt was accumulated over a period of five years, he admits to feeling the burden of knowing it existed - and that it had to be paid off. The moment he decided to rid himself of his credit card debts came in 2005.
"I just got fed up walking around knowing I owed thousands of dollars in debt," he recalls. "I thought to myself, 'This is it. Enough.'"
Assistance came in the form of a friend, who introduced him to Dave Ramsey's The Total Money Makeover. The book, which Mr Cole still has in his possession, features a bald, bearded and bespectacled Mr Ramsey peering from a cover and promising financial redemption.
Mr Cole was impressed with the author's promise and bought the book for $25. He read the 220 pages in a week.
Despite receiving allowances from his family as a teenager, Mr Cole says he was never properly introduced to investing essentials. His knowledge was limited to simple concepts such as saving, planning and spending.
Step one, according to Mr Ramsey, was knowing where your money goes. Mr Cole begin his financial redemption by saving all his receipts. For two months he filed away every single receipt and organised them in categories such as food, entertainment, utilities, rent and car payments. He immediately realised the areas in which he could cut back on. The first casualty was dining out - he knew $900 a month was an untenable figure.
Tabulating his daily expenses was an eye-opener, Mr Cole says, as he had never undertaken such an exercise. The next step was to stop using his credit cards. And at the time, of course, Mr Cole was using three of them. This set the stage for real action - melting the debt snowball, which is one of the main lessons in The Total Money Makeover.
"Ramsey basically advises us to start paying the minimums on all debts," he explains.
Mr Cole started by paying the minimums on his cards - $60 on Discovery, $55 on Visa and $65 on the Mastercard. Then, he took whatever was left in his budget- somewhere in the neighbourhood of $550 - and put it toward the card with the highest interest rate. With a new-found dedication to saving, Mr Cole managed to clear all of his credit card debt in just one year. And the next year, at the beginning of 2007, he decided to move to the UAE to take a job with a national airline.
With zero credit card debt, an emergency fund of several months' salary and his new job in the Emirates, Mr Cole says his explosive experience with plastic has changed his approach to spending.
In hindsight, he says he doesn't know why he was maintaining balances on three different cards. Like many other individuals, he was swayed by effective marketing campaigns and the fact that the cards had no annual fee. And then he let his charging get out of control.
If you must use credit cards, he says, limit yourself to the bare minimum necessary, and use them for practical purchases only.
In fact, following the fireworks display in 2006, three years passed before Mr Cole again used a credit card to buy something. He now has one piece of plastic, and he uses it sparingly.
"The freedom you have in knowing you don't have a debt attached to you is something else," he says.
"I've learnt my lesson the hard way. Debt can be a real burden. The most important thing I've learnt is to live within a budget. Having credit cards does not exactly encourage that."
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
The specs
Engine: 1.4-litre 4-cylinder turbo
Power: 180hp at 5,500rpm
Torque: 250Nm at 3,00rpm
Transmission: 5-speed sequential auto
Price: From Dh139,995
On sale: now
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Chef Nobu's advice for eating sushi
“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Match info
Premier League
Manchester United 2 (Martial 30', Lingard 69')
Arsenal 2 (Mustafi 26', Rojo 68' OG)
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
JOKE'S%20ON%20YOU
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The Orwell Prize for Political Writing
Twelve books were longlisted for The Orwell Prize for Political Writing. The non-fiction works cover various themes from education, gender bias, and the environment to surveillance and political power. Some of the books that made it to the non-fiction longlist include:
- Appeasing Hitler: Chamberlain, Churchill and the Road to War by Tim Bouverie
- Some Kids I Taught and What They Taught Me by Kate Clanchy
- Invisible Women: Exposing Data Bias in a World Designed for Men by Caroline Criado Perez
- Follow Me, Akhi: The Online World of British Muslims by Hussein Kesvani
- Guest House for Young Widows: Among the Women of ISIS by Azadeh Moaveni
How to increase your savings
- Have a plan for your savings.
- Decide on your emergency fund target and once that's achieved, assign your savings to another financial goal such as saving for a house or investing for retirement.
- Decide on a financial goal that is important to you and put your savings to work for you.
- It's important to have a purpose for your savings as it helps to keep you motivated to continue while also reducing the temptation to spend your savings.
- Carol Glynn, founder of Conscious Finance Coaching
Tottenham's 10 biggest transfers (according to transfermarkt.com):
1). Moussa Sissokho - Newcastle United - £30 million (Dh143m): Flop
2). Roberto Soldado - Valencia - £25m: Flop
3). Erik Lamela - Roma - £25m: Jury still out
4). Son Heung-min - Bayer Leverkusen - £25m: Success
5). Darren Bent - Charlton Athletic - £21m: Flop
6). Vincent Janssen - AZ Alkmaar - £18m: Flop
7). David Bentley - Blackburn Rovers - £18m: Flop
8). Luka Modric - Dynamo Zagreb - £17m: Success
9). Paulinho - Corinthians - £16m: Flop
10). Mousa Dembele - Fulham - £16m: Success
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The specs: 2018 Chevrolet Trailblazer
Price, base / as tested Dh99,000 / Dh132,000
Engine 3.6L V6
Transmission: Six-speed automatic
Power 275hp @ 6,000rpm
Torque 350Nm @ 3,700rpm
Fuel economy combined 12.2L / 100km
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
No more lice
Defining head lice
Pediculus humanus capitis are tiny wingless insects that feed on blood from the human scalp. The adult head louse is up to 3mm long, has six legs, and is tan to greyish-white in colour. The female lives up to four weeks and, once mature, can lay up to 10 eggs per day. These tiny nits firmly attach to the base of the hair shaft, get incubated by body heat and hatch in eight days or so.
Identifying lice
Lice can be identified by itching or a tickling sensation of something moving within the hair. One can confirm that a person has lice by looking closely through the hair and scalp for nits, nymphs or lice. Head lice are most frequently located behind the ears and near the neckline.
Treating lice at home
Head lice must be treated as soon as they are spotted. Start by checking everyone in the family for them, then follow these steps. Remove and wash all clothing and bedding with hot water. Apply medicine according to the label instructions. If some live lice are still found eight to 12 hours after treatment, but are moving more slowly than before, do not re-treat. Comb dead and remaining live lice out of the hair using a fine-toothed comb.
After the initial treatment, check for, comb and remove nits and lice from hair every two to three days. Soak combs and brushes in hot water for 10 minutes.Vacuum the floor and furniture, particularly where the infested person sat or lay.
Courtesy Dr Vishal Rajmal Mehta, specialist paediatrics, RAK Hospital
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
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
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Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
The specs: 2018 Nissan Patrol Nismo
Price: base / as tested: Dh382,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 428hp @ 5,800rpm
Torque: 560Nm @ 3,600rpm
Fuel economy, combined: 12.7L / 100km
