Tips to Control Expenses for Renters in Dubai After Pay Reduction3 MIN READ
A lot of companies, not only in Dubai but located anywhere in the world, had to shut shop as they weren’t able to fight with the ongoing global pandemic. Those firms that survived, they too had to take immediate actions to combat the battle with COVID-19. One of these actions was to reduce their budget due to which, employees suffered a reduction in their salaries.
Since Dubai is not an inexpensive city to live in, it has become hard for people to survive this pandemic. Particularly those who live in a rental apartment in Dubai, managing their budget can become a tough feat in these testing times.
Here are some effective tips you can follow to control expenses if you are living as a renter in Dubai:
Opt for Shared Apartment
This one applies to those who are living their bachelor life in Dubai. As stated above, the living cost here is high with rent consuming a major chunk of their income. An effective way to lessen this burden is to relocate in a shared apartment in Dubai. Surely, it comes with certain challenges as sharing a living space with other people may prove to be difficult. However, you will have to make some adjustments to survive this. Simply put, sharing an apartment with other renters can greatly minimize the rental cost.
Use Utilities Wisely
Other than rent, it is the utilities you need to take care of to manage your finances effectively. Follow the basic cost-cutting tips here such as switching off lights and other appliances when not in use. Similarly, keep a tab on your water consumption and try to reduce it since it will not reduce your DEWA bill but promote green (eco-friendly) living as well. Turn the tap off when you are shaving or brushing your teeth.
Do not leave your air conditioning system unmaintained even if it seemingly works fine. Such systems require regular maintenance otherwise they consume more energy. Similarly, get your faucets and leaking pipes fixed without any delay.
Don’t Get Carried Away When Grocery Shopping
A lot of people are guilty of spending more than they had budgeted for while grocery shopping. If you want to control your expenses due to the salary cut, you need to shop for groceries wisely. These are some of the ways you can do so:
- Look for discounted products. Cheap products are not always of inferior quality. Some popular brands also offer discounts on their products or some other exciting offers.
- Don’t buy in bulk particularly when it comes to perishable items. Not only there is a risk of them going bad, but stocking & hoarding can also consume a major part of your grocery shopping budget.
- Only buy essential products. No matter how lucrative an offer is or how enticing a product looks, don’t buy it if you don’t need it.
- Opt for frozen food. It’s cheaper. However, only buy frozen food products from the brands you trust.
- When looking for a particular product, pick the one placed on the lower shelf. Products placed on lower shelves are usually inexpensive ones.
Use the Downsizing Approach
Just like most of the companies have done, you can also go for downsizing approach. By this approach, it is implied to get rid of facilities that you don’t frequently use or serve as a burden on your budget. For example, if you have purchased a home TV package, stop paying for channels that no one in your home watches. Similarly, buy a cheaper internet plan. Opt for cost-effective mobile plans. Find bundles that offer internet and free minutes combined. They are relatively cheaper.
Reduce Commuting Costs
While oil prices are falling yet it is recommended to adopt certain measures to reduce your commuting charges. Instead of taking your own vehicle to work daily, start using local transport. Or you can carpool with your colleagues, flatmates or friends. It can help to save commuting costs for everyone.
Cut Down House Maintenance Cost
Instead of hiring cleaning services, clean your living space on your own during the weekends. Distribute the work evenly with your roommates or family members. If you have kids, also include them in this process. It will not only help you to cut down on your expenses but will also infuse a habit in them to play their part in household chores.
It is still unclear how long it will take the world to be how it was when there was no COVID-19. Until then, we will have to live with this ‘new normal’ where everyone’s facing budget constraints.