Two in five UAE residents saw their disposable income decrease last year, according to a February report by market research company YouGov.
It is a stark reminder of the unpredictability of life and how unexpected challenges can happen when we least expect them.
That is where your financial safety net comes in. Whether it is a sudden job loss or a pay cut for a career switch, having a solid financial foundation is key to navigating the twists and turns that are bound to happen.
1. Make a monthly budget
Don’t spend more than what you earn is one of the first rules of personal finance.
Setting a monthly budget is the first step towards building financial resilience.
When you have a budget and stick to it, you will have a clearer picture of how much you can spend without compromising your ability to navigate future challenges and bounce back from them.
To create a budget, calculate how much you spend in a single month on your needs (for example, food) and financial commitments (such as investment contributions or a mortgage).
Then see where you can cut back on “wants”, ensuring that you are prioritising saving over non-essential expenses.
The 50/30/20 rule is a guide for those who are starting out: Reserve 50 per cent of your income for day-to-day needs, 30 per cent for your wants and 20 per cent for savings, investments and debt repayments.
2. Prepare and expect the unexpected
So, now that you have a monthly savings plan, the question is: How much cash savings do you really need?
As a general rule of thumb, you should have an emergency fund that covers at least six months’ worth of expenses.
Your emergency fund is your safety net for any unexpected situations, ensuring you can meet these unforeseen expenses without reducing your monthly investment contributions or liquidating your assets.
Remember the budget you had? Look at your monthly expenditure and multiply it by six months – that is how much you should have in your emergency fund.
To make things easier, try using tools like online emergency fund calculators to estimate how much you need to put aside for a rainy day.
3. Build your emergency fund, day by day
Once you have a savings target, the next step is to make a plan to get there.
For example, let us say your goal is to save Dh100,000, and you already have Dh75,000 in cash savings.
If you can set aside Dh1,000 each month, you will take 25 months to build a solid financial safety net.
Eager to get your emergency fund up and running? Consider making broader lifestyle adjustments to reach your target faster.
Perhaps you could hold back on non-essential purchases during sales, or opt for home-cooked meals instead of dining out.
To keep yourself accountable and on track, consider creating a systematic savings plan.
A simple way to do this is to create a standing instruction that automatically sets aside a portion of your monthly income.
4. Where to keep your rainy funds
Of course, it is not merely about saving more – where you park this sum of cash matters, too.
First and foremost, you should keep your emergency fund somewhere safe and liquid. But that does not mean you should leave it in a low-yield savings account, locked in a safe or tucked under your pillow!
Low-risk, interest-earning cash management portfolios are some options that can help you earn more on your spare cash without taking unnecessary risks.
5. Keep calm, stay agile
Now that you have your safety net in place, here is one thing to remember: The money is there for a reason – to be put to good use. And it is not only for doomsday scenarios.
You might choose to dip into your savings to relocate to a new country for a dream job, or perhaps embark on an entrepreneurial venture.
The key is replenishing your emergency fund once you have drawn from it.
Re-evaluate your savings and investment plans – you might have to put some financial goals on hold while you build up your emergency fund again.
This way, you will always be ready for any curveballs (or opportunities) life throws your way.
A solid financial safety net can help you navigate stressful times with greater ease and confidence, ensuring that you stay firmly on the path to your long-term financial goals.
Joseph El Am is general manager for the Mena region at digital wealth manager StashAway
Which products are to be taxed?
To be taxed:
Flavoured water, long-life fruit juice concentrates, pre-packaged sweetened coffee drinks fall under the ‘sweetened drink’ category
Not taxed
Freshly squeezed fruit juices, ground coffee beans, tea leaves and pre-prepared flavoured milkshakes do not come under the ‘sweetened drink’ band.
Products excluded from the ‘sweetened drink’ category would contain at least 75 per cent milk in a ready-to-drink form or as a milk substitute, baby formula, follow-up formula or baby food, beverages consumed for medicinal use and special dietary needs determined as per GCC Standardisation Organisation rules
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
Zayed Sustainability Prize
Roll%20of%20Honour%2C%20men%E2%80%99s%20domestic%20rugby%20season
%3Cp%3E%3Cstrong%3EWest%20Asia%20Premiership%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Dubai%20Tigers%0D%3Cbr%3ERunners%20up%3A%20Bahrain%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EUAE%20Premiership%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Jebel%20Ali%20Dragons%0D%3Cbr%3ERunners%20up%3A%20Dubai%20Hurricanes%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EUAE%20Division%201%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Dubai%20Sharks%0D%3Cbr%3ERunners%20up%3A%20Abu%20Dhabi%20Harlequins%20II%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EUAE%20Division%202%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Dubai%20Tigers%20III%0D%3Cbr%3ERunners%20up%3A%20Dubai%20Sharks%20II%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDubai%20Sevens%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Dubai%20Tigers%0D%3Cbr%3ERunners%20up%3A%20Dubai%20Hurricanes%3C%2Fp%3E%0A
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
UAE currency: the story behind the money in your pockets
UAE squad
Rohan Mustafa (captain), Ashfaq Ahmed, Ghulam Shabber, Rameez Shahzad, Mohammed Boota, Mohammed Usman, Adnan Mufti, Shaiman Anwar, Ahmed Raza, Imran Haider, Qadeer Ahmed, Mohammed Naveed, Amir Hayat, Zahoor Khan
COMPANY%20PROFILE%20
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Visit Abu Dhabi culinary team's top Emirati restaurants in Abu Dhabi
Yadoo’s House Restaurant & Cafe
For the karak and Yoodo's house platter with includes eggs, balaleet, khamir and chebab bread.
Golden Dallah
For the cappuccino, luqaimat and aseeda.
Al Mrzab Restaurant
For the shrimp murabian and Kuwaiti options including Kuwaiti machboos with kebab and spicy sauce.
Al Derwaza
For the fish hubul, regag bread, biryani and special seafood soup.
UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
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
hall of shame
SUNDERLAND 2002-03
No one has ended a Premier League season quite like Sunderland. They lost each of their final 15 games, taking no points after January. They ended up with 19 in total, sacking managers Peter Reid and Howard Wilkinson and losing 3-1 to Charlton when they scored three own goals in eight minutes.
SUNDERLAND 2005-06
Until Derby came along, Sunderland’s total of 15 points was the Premier League’s record low. They made it until May and their final home game before winning at the Stadium of Light while they lost a joint record 29 of their 38 league games.
HUDDERSFIELD 2018-19
Joined Derby as the only team to be relegated in March. No striker scored until January, while only two players got more assists than goalkeeper Jonas Lossl. The mid-season appointment Jan Siewert was to end his time as Huddersfield manager with a 5.3 per cent win rate.
ASTON VILLA 2015-16
Perhaps the most inexplicably bad season, considering they signed Idrissa Gueye and Adama Traore and still only got 17 points. Villa won their first league game, but none of the next 19. They ended an abominable campaign by taking one point from the last 39 available.
FULHAM 2018-19
Terrible in different ways. Fulham’s total of 26 points is not among the lowest ever but they contrived to get relegated after spending over £100 million (Dh457m) in the transfer market. Much of it went on defenders but they only kept two clean sheets in their first 33 games.
LA LIGA: Sporting Gijon, 13 points in 1997-98.
BUNDESLIGA: Tasmania Berlin, 10 points in 1965-66
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Killing of Qassem Suleimani
Two products to make at home
Toilet cleaner
1 cup baking soda
1 cup castile soap
10-20 drops of lemon essential oil (or another oil of your choice)
Method:
1. Mix the baking soda and castile soap until you get a nice consistency.
2. Add the essential oil to the mix.
Air Freshener
100ml water
5 drops of the essential oil of your choice (note: lavender is a nice one for this)
Method:
1. Add water and oil to spray bottle to store.
2. Shake well before use.
Copa del Rey
Barcelona v Real Madrid
Semi-final, first leg
Wednesday (midnight UAE)
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UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
