How to Save in Dubai as a Filipino Overseas Worker

Living in Dubai as a Filipino Overseas Worker (OFW) presents unique challenges, particularly in managing expenses. The cost of living can be high, and it is crucial to strike a balance between food, housing, entertainment, emittances, and savings. The recent pandemic made the global price to be even higher. That’s why it is essential for OFWs to manage their finances wisely. This article offers practical tips on how to save money while living and working in Dubai.

Tips on How an OFW can save in Dubai

1. Budget Wisely

Track Your Expenses

Start by tracking your daily expenses. Understanding where your money goes is the first step in identifying areas where you can cut costs. Use apps or spreadsheets to monitor your spending and categorize expenses into essentials like food, rent etc and non-essentials like spending for parties, buying unimportant things etc.

Create a Monthly Budget

Develop a monthly budget that outlines your income and expenses. Allocate funds for rent, utilities, transportation, food, savings, remittance and discretionary spending. Stick to this budget to avoid overspending and ensure you can save a portion of your income every month.

2. Find Affordable Accommodation

Share a Flat or Apartment

Housing is one of the biggest expenses in Dubai. To save money, consider sharing a flat or apartment with other Filipinos or expatriates. Bed space is the most ideal if you are alone or partition rooms if you have a partner. This can significantly reduce your rental costs and utility bills.

Choose Budget-Friendly Areas

Opt for more affordable neighbourhoods such as Deira, Al Nahda, Bur Dubai, Satwa or Al Qusais . These areas offer lower rental prices while still providing convenient access to public transportation and essential amenities.

Read: Everything Filipino in Dubai: A Guide for OFWs

3. Utilize Public Transportation

Use the Metro and Buses

Dubai’s public transportation system is efficient and cost-effective. Using the metro and buses can save you a considerable amount compared to owning a car or relying on taxis.

Carpooling

If your workplace is not easily accessible by public transport, consider carpooling with colleagues or friends. This can help reduce transportation costs and is also an environmentally friendly option.

4. Save on Food and Groceries

Cook at Home

Eating out frequently can quickly deplete your budget. Cooking at home is a more economical option. Prepare meals in batches and bring packed lunches to work to save money.

Shop at Budget-Friendly Stores

Dubai has several budget-friendly supermarkets and markets where you can buy groceries at lower prices. Look for stores like Lulu Hypermarket, Carrefour, and local markets that offer good deals and discounts.

Buy in Bulk

Purchase non-perishable items in bulk to save money in the long run. Bulk buying often comes with discounts, and it reduces the frequency of shopping trips, which can also save you time and transportation costs.

5. Manage Utility Costs

Conserve Energy

Reduce your utility bills by conserving energy. Turn off lights, air conditioning, and appliances when not in use. Dont use appliances like Washing Machine between 12PM- 6PM as it consurmes more energy during that time of the day due to heat. Use energy-efficient light bulbs and appliances to further cut down on electricity consumption.

Monitor Water Usage

Be mindful of your water usage to avoid high water bills. Simple practices like fixing leaks, using water-saving fixtures, and taking shorter showers can help reduce water consumption.

6. Make Use of Discounts and Offers

Loyalty Programs

Join loyalty programs offered by supermarkets, pharmacies, and other retailers to earn points and avail of discounts on purchases. These programs can provide significant savings over time.

Sales and Promotions

Take advantage of sales, promotions, and discount events such as the Dubai Shopping Festival and Dubai Summer Surprises. Plan your purchases around these events to get the best deals.

dubai-summer-surprises-modesh — Dubai Summer Surprises 2024. Photo by Whatson.ae

7. Send Money Wisely

Avoid Sending All Your Earnings to Your Family

When sending money back home, it’s crucial to do so wisely. Avoid sending all of your earnings. Ensure that what remains can comfortably cover your living expenses in Dubai and still allow for some savings. By balancing remittances with your personal financial needs, you can maintain financial stability and build a secure future.

Compare Remittance Services

When sending money back to the Philippines, compare the rates and fees of different remittance services. Choose the service that offers the best exchange rate and lowest fees to maximize the amount your family receives.

Use Online Transfers

Consider using online money transfer services such as your online bank, Taptap Send etc, which often offer better rates and lower fees than traditional remittance channels. These services are also more convenient and faster.

8. Save on Entertainment

Enjoy Free Activities

Dubai offers numerous free or low-cost activities. Explore parks, beaches, and cultural events that don’t require spending a lot of money. Enjoying these activities can help you have fun without breaking the bank.

Look for Discounts

Many entertainment venues offer discounts to residents. Keep an eye out for special offers on entertainment apps or websites, and take advantage of discounted tickets for movies, shows, and attractions. Check on Entertainer, Groupon and Cobone for buy one get one offers on food , attractions etc.

Conclusion

Saving money in Dubai as a Filipino Overseas Worker requires careful planning and smart financial choices. By budgeting wisely, finding affordable housing, using public transportation, cooking at home, and taking advantage of discounts, you can significantly reduce your expenses and save more of your hard-earned income. Implement these strategies to ensure financial stability and make the most of your time in Dubai.

Read: Don’t Become an OFW If…