The National's Video
Addressing the rising tide of personal indebtedness in the UAE
A panel of experts met for the first time in Abu Dhabi on Sunday to help address the problem of mounting levels of personal debt in the UAE.
The Debt Panel, an initiative of The National, includes a banker, the chief executive of a money comparison website, a wealth and wellness planner and a financial adviser who will, together, address people’s credit-related issues in a weekly column.
Aquarius Magazine "It’s a woman’s world - With international women’s day falling this month, we asked some inspirational ladies for tips from their areas of expertise, to help put some colour into the gaps in your life."
Money coach Rasheda Khatun shares her tips on taking control of your finances, thereby fortifying your future
It’s common for we women to leave our partners to deal with the finances. We’ve seen our parents do it, and our friends, and it’s not like we haven’t got enough to do without taking on the finances as well.
But we must.
Think about this – if you were suddenly left in a position where you were on your own, or without a job, how would you stand financially? Could you afford to take care of yourself? Could you afford to take care of your children?
If the answer is ‘no’ to any of these questions, then it’s time to take responsibility for your finances.
The proposed budget for your wedding can be one of the most problematical areas once you have said ‘yes’ and begun planning your big day. You and your fiancé or family might have different ideas about how much you are willing to spend on this special occasion, and even if you have already set a budget, disagreements might still ensue once you start making bookings and putting down deposits. It’s amazing how quickly that budget disappears, and how tempting it is to ignore this financial limitation!
Thankfully, our BCME expert panel member and wealth and wellness coach, Rasheda Khatun Khan at www.rashedakhatun.com, has some fantastic advice to help you both stick to your budget. If you’re beginning to get frustrated or are experiencing disagreements with your partner about the budget for your wedding day, have a read below and take on board Rasheda’s recommendations.
So why is it that we just cannot stick to our money resolutions? Why can we not keep that promise we make to ourselves?
The answer is – we do not make a strong enough commitment. Making an agreement with yourself is just so easy to break because you only have yourself to answer to and we are all good at cutting ourselves a little slack. A good agreement is made up of a worthwhile outcome and a penalty clause if you break it midway. The strong commitment comes from the level of importance of the outcome to your life and what holds you to it is the penalty clause or pain if you let yourself down.
Here are 5 steps to make sure you make a big difference to your pocket in 2016.
Almost every bride-to-be will admit it; in the run up to her wedding day, it can be hard to envisage married life beyond the stunning gown, the beautiful flowers and the excitement of friends and family. Indeed, most couples will become so consumed by the big day itself that the ‘after’ in ‘happily ever after’ is temporarily forgotten in the midst of decision making, planning and general ‘wedmin’. Moreover, sitting down as a couple to talk about your soon to be joint finances can seem unglamorous at best, and at worst, a daunting prospect.
When you read this, there will only be 20, or maybe its 15, no make that 5, shopping days until Christmas. The truth is that for most of us time is going by at F1 speed and accelerates to warp speed during the holidays. In a blink, Christmas is over and many of the kids’ gifts are already broken. What’s a parent to do?