Video game players have discovered a lucrative side hustle – earning cryptocurrency by signing up for play-to-earn games. One of the most popular play-to-earn games is Axie Infinity , which allows players to accumulate tradable cryptocurrency coins. In fact, it’s become a financial lifeline for many gamers who have lost their jobs in countries such as the Philippines, Brazil and Venezuela. Built on the Ethereum blockchain, which was founded by Vitalik Buterin , Axie has grown from about 30,000 p...
Sep 16, 2021•15 min•Ep. 68
Building up an emergency fund to ensure you are protected against any financial surprises is one of the golden rules of personal finance. But once that emergency fund has hit its target of about three to six months’ of your monthly expenses, what should you do with the rest? While many choose to invest their money to grow their net worth over time, others prefer to sit on their savings – storing it in bank accounts, or worse, under their mattress. So what causes some people to fear the world of ...
Sep 07, 2021•26 min•Ep. 67
Over the past 18 months, the world has changed more than anyone could have predicted. The Covid-19 pandemic brought the world to a standstill, shutting businesses, schools, offices and shopping malls, and confining millions to their homes for long periods of time. While many saw their incomes dwindle or lost their jobs altogether, others boosted their savings as movement restrictions prevented them from spending. Now, as the world slowly emerges from the pandemic, we have all benefited in some w...
Aug 31, 2021•20 min•Ep. 66
Numerous studies around the world are indicating that a four-day working week can be successful, leading to an increase in productivity and happier, healthier employees as the work-life balance improves. Governments and private companies in countries such as Spain, New Zealand and Iceland have been experimenting with a reduced working week without cutting employees’ salaries. Here in the UAE, a digital marketing company in Dubai recently announced that it is switching to a four-day working week ...
Aug 24, 2021•23 min•Ep. 65
The UK’s property market experienced a mini-boom during the pandemic with house prices rising 8.5 per cent last year. This was in sharp contrast to Britain’s wider economy, which was hammered by the fallout from the Covid-19 crisis as the country endured a series of lockdowns. While a stamp duty holiday helped to propel the market upwards, easier access to mortgage finance and a lockdown-induced desire for more space outside major cities also played their part. But one thing slightly dampening p...
Aug 17, 2021•15 min•Ep. 64
Trust is key in any relationship, but when it comes to your money you need to be sure the person offering you advice is 100 per cent reliable. The relationship between the UAE financial advisory sector and resident investors has been dented in recent years due to the mis-selling of expensive savings, investment and life insurance products. A number of regulatory changes rolled out last year aim to reduce the risk of mis-selling. Commission is now capped on new policies and financial advisers mus...
Aug 10, 2021•26 min•Ep. 63
Interest in trading has surged during the Covid-19 pandemic, with retail investors flocking to platforms such as Robinhood and Etoro to buy and sell stocks. With time on their hands during movement restrictions and extra money to invest after a series of government stimulus packages, retail traders around the world have embraced the "gamification" of trading, which has been driven by US meme stocks such as AMC Entertainment and GameStop. But there is one group of traders who have been flying und...
Aug 03, 2021•20 min•Ep. 62
If there is one lesson the Covid-19 pandemic has taught us, it is to be financially prepared for once-in-a-lifetime events. In a world where living beyond our means and being in debt has become the norm, setting up a financial safety net to protect our personal finances during economic downturns, such as the Covid-19 pandemic, can be difficult for many. While the debt-free journey can be hard work, it is a realistic financial goal if you plan carefully, pay down your expensive debts as quickly a...
Jul 27, 2021•37 min•Ep. 61
As the popular saying goes: money does not grow on trees. But wealth can grow through careful money management. While getting on top of your finances may seem like an insurmountable task for some, taking control and being consistent will help you turn a time-consuming chore into a habit you actually enjoy. From tracking your expenses to following a simple budget and cutting down on unnecessary expenditure, there are a number of easy ways to help you stay on top of your financial affairs. While t...
Jul 20, 2021•24 min•Ep. 60
It’s hard to pick up a newspaper these days without some reference to cryptocurrencies on the pages. But for some, the world of crypto assets and Blockchain technology seems like another language. Since Bitcoin was first created after the 2008 financial crash, cryptocurrencies have multiplied, along with their value. While the rise and fall of crypto assets has been well documented with some investors making vast sums and others losing their life savings, scepticism from central bankers is rife....
Jul 13, 2021•30 min•Ep. 59
While the start of 2021 was bleak, with the world still in the grip of a pandemic that had already ravaged major economies, the outlook now is more positive. There is a sense of hope, thanks to rapid progress on the vaccination drive and coronavirus restrictions easing once again. The global recovery is backed by huge levels of monetary and fiscal support, as well as improving growth and earnings that have translated into significant rallies in most equity markets. However, rebounding economies ...
Jul 06, 2021•26 min•Ep. 58
The topic of salaries can be a sensitive subject between couples, but what should spouses do if their partner earns more or less than they do? There are a number of issues for couples to be aware of in this situation, such as some partners believing they deserve a bigger say in shared finances because they earn more, which could lead to resentment. Financial experts say this should never be the case – and creating an equal footing between both spouses when it comes to money is important regardle...
Jun 29, 2021•20 min•Ep. 57
Consider this: You’ve just received a promotion and a pay rise at work. But what plans do you have for that extra money? Will you save it – or will you spend it? For some, saving is the obvious way forward because they are happy to live within their means on their old salary and anything extra is a bonus to secure their financial future. But for many others, the temptation is too great and they see the extra money as an excuse to pay for items they couldn't afford before. Examples could be takin...
Jun 22, 2021•18 min•Ep. 56
While the Covid-19 pandemic has changed the way we live and work, it has also accelerated our switch to using contactless cards and e-wallets to pay for goods and services. Millions of people have opted for cashless payments since global lockdowns came into force in March last year amid concerns about the spread of infection through bank notes and coins. In March, a survey by moneytransfers.com, which used YouGov data to rank 21 countries that are likely to accept a fully cashless economy, found...
Jun 08, 2021•25 min•Ep. 55
It’s been more than a year since our 2020 travel plans were disrupted because of the Covid-19 pandemic – and many of us are keen to get back in the air, visit family or take a well-deserved holiday. With vaccination programmes now in place in many countries around the world and travel corridors opening up, it's time to start planning our summer vacations. There are a number of financial factors to consider before taking the leap, including the cost of flights, health insurance and whether or not...
Jun 01, 2021•16 min•Ep. 54
The UAE property market is buoyant once again after changes to mortgage rules and new visa programmes for expatriate retirees and foreign investors boosted sentiment in the sector. Dubai property transactions hit their highest level since 2010 in the first quarter of this year, according to ValuStrat. The positivity in the market is encouraging many first-time buyers to snap up a home at a time when prices are still affordable and interest rates remain low. But with many residents in the UAE sti...
May 25, 2021•21 min
It’s all very well to keep your personal finances to yourself when you are single. But what happens if you continue this habit when you are married? Financial infidelity can have a devastating effect on a marriage and create huge trust issues between couples if one of them is not honest about money. From hiding purchases to having a secret bank and credit card account or taking out a loan without their spouse knowing about it are just a few examples of financial infidelity. In 2020, a survey by ...
May 18, 2021•30 min
When a group of debt experts sat around a conference table at The National’s office in Abu Dhabi five years ago, they never imagined the discussion would help to ease the debt problems of hundreds of UAE residents. At the time, banks were inundated with borrowers unable to repay their liabilities because they could no longer take on fresh credit following the launch of the Al Etihad Credit Bureau. Set up in November 2014, the bureau brought transparency to the lending industry by assembling a cr...
May 11, 2021•25 min
Becoming a millionaire is a dream for many – to have the financial freedom to never worry again about paying bills or living from pay cheque to pay cheque. But reaching that $1 million mark is easier said than done. It takes patience, discipline and a "millionaire mindset" to reach your financial goals. It’s also about having a long-term investment strategy, living below your means and sticking to a budget that will allow you to invest your savings regularly and get it working for you as soon as...
May 04, 2021•29 min
While saving and budgeting are important habits to teach children when they are young, financial experts say generosity and gratitude are also essential components of financial literacy programmes. Understanding the importance of giving back can lead to positive affirmations for children, making them feel as though they can make a difference in the world and help others less fortunate. According to some studies, generosity towards others activates a part of our brain that is similar to feelings ...
Apr 27, 2021•17 min
The Covid-19 pandemic has weighed heavily on millions of workers around the world, with many either losing their jobs, being furloughed or having their salaries cut. While a number of UAE employers reduced their staffing budgets last year to remain operational, the latest salary report by global recruitment consultancy Hays paints a more positive picture for 2021. The report found that hiring activity started to pick up in the fourth quarter of last year and this trend has continued into 2021. M...
Apr 13, 2021•20 min
Teaching your teenager how to manage their money may not be as straightforward as you think. Personal finance only forms a tiny part of the curriculum at school, with teenagers often relying on their parents to learn vital lessons about managing money. But with teens sometimes resistant to anything their parents have to say, they may choose to ask others for advice or do things their own way. Parents may also not be the best source for financial literacy guidance, particularly if they have handl...
Apr 08, 2021•22 min
Vouchers, coupons and discount codes – there are many ways to cut the cost of dining out, spa treatments and entertainment in the UAE. While coupon websites such as Groupon or Cobone offer daily deals, apps such as The Entertainer present buy-one-get-one free offers as well as percentage discounts. Other options include VoucherSkout, Repeat and Helwa, a free app that finds the best coupon codes and cash back offers for users. But with so many different ways to cut costs, how do consumers work ou...
Mar 30, 2021•24 min•Season 1Ep. 8
NFTs – or non-fungible assets – have been making waves in the investing world after digital artist Beeple sold his Everydays: The First 5,000 Days artwork for an eye watering $69.3 million at a recent Christie’s auction. There’s no arguing that alternative investments, such as collectables like cars, antiques, autographs and long-lost letters penned by the rich and famous, have been around for a long time. But would you be willing to pay $2.5 million on Twitter founder Jack Dorsey’s first tweet,...
Mar 23, 2021•13 min
While last year’s coronavirus lockdown in the UAE led to drop in demand for real estate across the country, there are signs the market is recovering particularly in popular areas and for higher-end homes. Some residents are hunting for properties with gardens or more space as the work-from-home trend continues, while demand for short-term rentals is also on the up. But the idea of investing in real estate might seem a little risky for some when you consider the world is only just emerging from t...
Mar 16, 2021•29 min
While great strides towards gender equality have been made over the years, crucial issues remain. In the world of personal finance, concerns include "the gender wage gap" and that many women looking to invest are underserved by the male-dominated financial services sector. According to the World Economic Forum, it will take women 200 years to achieve pay equality, while a global study by BCG last year found that a third of the world’s wealth, or 32 per cent, is controlled by women – and every ye...
Mar 09, 2021•25 min
New research by YouGov has found that more than half of UAE residents have cut non-essential spending over the past six months, while 77 per cent will continue doing so in the future. That’s no surprise considering the global economic impact of the Covid-19 pandemic, which caused widespread pay cuts and job losses as businesses closed and millions of people started working from home. But, as economies begin to re-open, the temptation to return to our old spending habits will be difficult to resi...
Mar 02, 2021•23 min
Relocating to another country is always a challenge when you factor in finding a new place to live and work, securing school places and shifting your finances along with the contents of your home. Some might think moving to their own country would be easier, but former Dubai resident Simon Cahill, a chartered financial planner and partner at London-based Octopus Wealth, says this can be just as challenging. Mr Cahill relocated to his native UK last year, a move that encouraged him to write The U...
Feb 23, 2021•25 min
One of the biggest personal finance concerns many people have faced over the years is dishonest advisers selling complex, high-commission financial products to unsuspecting investors that can lock them in for years. Amber Waheed is one of them. The Dubai-based business strategist and author of the recently released The Great Fraud Fightback lost $80,000 after being duped by her adviser into signing up for long-term investments she believed were low risk. It’s a familiar, heart-breaking tale for ...
Feb 18, 2021•24 min
One of our biggest financial milestones in life is buying a home. From saving up for a deposit to applying for a mortgage and having it approved is a dream come true for millions around the world. Buying property is also one of the best investments we can make – even if it doesn't appreciate in value, it still means that we are paying ourselves rather than a landlord. But one of the biggest concerns for homeowners is the interest they pay on their mortgages, whether it is variable or fixed. Whil...
Feb 11, 2021•18 min
