We can help you manage your money.
Here’s what you need to know.
A list of income and expenses used to allocate money to activities within a specific timeframe.
Provides a clear picture of your financial future.
Prevents overspending, getting into too much debt, neglecting savings or not achieving financial goals.
Shows your spending habits.
Helps you resist external pressures, social media and advertising.
Helps develop greater financial discipline.
Complete each of the sections in the Budget Worksheet.
Have receipts and bank statements on hand if possible.
Make the budget as detailed as possible.
Expenses should be lower than income.
Check if your expenses are “needs” or “wants”. Cut back on wants.
and stick to your budget.
by saving a fixed amount before spending.
for emergencies, debt reduction and “wants”.
should be 3-6 months of your salary.
at adcb.com or speak with a representative to learn more.
Specially designed activities that can help you practically improve your money management practices.
Visit our toolkitOnly 24% of UAE residents have saved enough to survive without a salary for 4 months.1
42% of UAE residents don’t know how to create a budget.2
1 The ASDA’A Burson - Marsteller Arab Youth Survey, 2010 - 2011.
2 Financial Literacy Survey, ADCED 2009.
By saving early and regularly, you can build a reliable base that will help you achieve your financial goals in time.
Prepare for setbacks & opportunities.
Make your dreams a reality.
Peace of mind.
Success as you see it.
Each letter in ‘SMART’ describes a feature of good financial goals. Ask yourself the following questions to set a SMART goal for yourself too.
Ask if a
‘SMART’ goal is a
“NEED” or a
“WANT”.
“Needs” come first.
for emergencies, debt reduction and “wants”.
can be put to better use.
and tools can help you achieve your goals.
on the Emirates Foundation’s Twitter, Instagram and Facebook accounts.
at adcb.com or speak with a representative to learn more.
Specially designed activities that can help you practically improve your money management practices.
Visit our toolkitGoals give you a target and SMART goals help you hit the bullseye.
ADCB products and tools can help you achieve your goals.
An essential tool to have the desired income or amount when you retire.
Your target amount is based on regular savings, ideal retirement, inflation etc.
Requires a disciplined long-term and balanced investment approach.
The earlier you start planning, the lower your contributions.
Start investing early and let compound interest work for you.
Only invest after:
- You have your finance in order.
- Your spending is managed effectively.
- Avoid letting income savings sit dormant.
Stocks can offer higher returns over the long term but also higher risk.
Bonds are more stable but with lower possible returns.
Money market funds and certificates of deposit can work for the short-term.
Managed funds are managed by professionals who decide on the mix and timing.
Property investments (other than home ownership) can be profitable too.
to understand your risk profile.
for necessary investment switches.
to regularly pay into a plan.
when your child is young, to save a substantial amount.
at adcb.com or speak with a representative to learn more.
Specially designed activities that can help you practically improve your money management practices.
Visit our toolkitSome studies have shown that financial habits take root from as early as age seven.
A family with a savings plan will save about twice as much as a family that doesn’t have one.
Social media and advertising can amplify desires to live a life of luxury and excess.
External pressures can lead to impulse buying.
Temptations can lead you to spend beyond your means.
Social media has developed a culture of competition to impress peers.
Advertising is geared to influence your spending.
Retrospection – do you really “need” it? Can you afford it? Is it SMART?
Look at advertisements with a questioning eye.
Get all necessary information before you purchase.
These questions are even more important when borrowing for non-essentials.
Keeping financial goals in mind helps resist impulse buying.
to save on bills and your time.
to reduce stress and pressure.
that doesn’t encourage purchase.
if you truly “need” the item.
at adcb.com or speak with a representative to learn more.
Specially designed activities that can help you practically improve your money management practices.
Visit our toolkitSocial media has created the “envy spiral effect” where people beef up their profiles to compete with others. This creates a vicious cycle which affects money management behaviours.
91% of all retail brands advertise on two or more social media channels.