How to Handle Your Finances in Dubai – Enjoy Great Savings in an Alluring City
Dubai and the United Arab Emirates in general are often associated with extravagance, towering skyscrapers, artificial islands, lavish malls and the like. However, in recent times even those with relatively more modest means have commenced regularly visiting this dynamic destination. If you happen to be a money-conscious traveller visiting Dubai, you will find the suggestions provided below about managing your finances to be useful.
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Understand basic money matters
The currency used in the Emirates would be the UAE Dirham. You would find that it would be possible to live in Dubai on a budget, with inexpensive meals and necessities available for the cost-conscious visitor.
It is possible to pay by both cards and cash in Dubai. Visitors will find ATMs throughout the UAE, including at airports, malls and large hotels. If you happen to be offered the choice of paying in your native currency or Dirhams when making credit card payments, it would be preferable to pay in Dirhams. Otherwise, you would be opting for Dynamic Currency Conversion (DCC) which would often involve unfavourable exchange rates and more money being spent.
Exercise your discretion when bargaining
Although bargaining would be appropriate in certain situations when making purchases in Dubai, it would not be suitable in others. Naturally, bargaining with the vendors would be expected at informal marketplaces in Dubai where it would be part of the local culture. Similarly, you could also take the opportunity to bargain at establishments like independent gold and jewellery shops where prices could be somewhat variable. On the other hand, haggling would not be appropriate at international brand name stores where prices would be fixed, just as they would be at similar places across the world.
Be aware of tipping issues
Generally, in the UAE only hotels would legally be permitted to include service charges in their bills (usually at 10%). However, this service charge typically wouldn’t make its way to the actual staff themselves; therefore, handing over direct cash to express your gratitude would be appreciated. Meanwhile, at independent restaurants in Dubai and bars, tipping wouldn’t be compulsory yet would always be welcome. Naturally, the size of your tip would also reflect how good you thought the service was. A cost-effective accommodation choice to consider from which you could visit the local restaurants and other Dubai attractions would be Avani Deira Dubai Hotel.
Trim down on dining costs
Naturally, many of us would spend a significant proportion of our incomes on food and dining. Whilst in Dubai, you could save a considerable amount by preparing your own food or visiting less expensive restaurants. You may also save significantly by making your grocery purchases in bulk at large supermarkets where supplies would be cheaper than at the costlier minimarts. You will additionally have the chance to make bulk purchases from online purveyors. By buying in bulk, you could experience significant savings whilst also reducing your stress levels and transport expenses. In this way, you could trim down your food-related expenses in a noteworthy manner.
Make savings whilst shopping
Although we wouldn’t purchase expensive electronics like computers, phones, washing machines and TVs as often as we purchase food, these costly items could be equivalent to several months of our food budgets. Therefore, one must make every effort to save money when making such purchases whilst in Dubai. A great place at which to obtain discounted electronics would be the Gulf Information and Technology Exhibition (GITEX); at this trade show, you will find sophisticated electronics at reduced prices in addition to attractive promotions, prizes, and raffles. Another great opportunity for obtaining discounted goods would be the Dubai Shopping Festival during which you could avail yourself of an array of different products for sale prices.
