How to stretch your travel budget

Dear subscriber,

Not many people would turn down the opportunity to get more bang for their buck – or dirhams, in this case. Now we are at the?height of the summer travel season , this equally applies to holidaymakers as they seek?value for money with airfare , accommodation and other costs.

One way to?achieve greater savings while travelling? is to choose a destination where the currency is weaker than the place where you live and work.

As the UAE dirham is?pegged to the US dollar , residents can use favourable exchange rates to travel to countries where the purchasing power of the dirham is higher.

For instance, I always choose to travel to an affordable destination in June to make sure my travel budget lasts for the rest of the year. This year, I?picked Kyrgyzstan? as it is a short flying distance from the UAE and its currency, the som, is weaker compared with the dirham.

With several currencies depreciating against the UAE dirham – such as the Indian rupee, Egyptian pound, Turkish lira, Georgian lari, Sri Lankan rupee, Malaysian ringitt and Kenyan shilling – people in the Emirates are spoilt for choice when it comes to choosing affordable countries to visit.

But it’s not only holidaymakers who are trying to save money in the UAE.

Homeowners are also looking for ways to manage their finances and pay their mortgages after 11 interest rate increases since 2022.

For those still on the fence about purchasing property in the UAE, it’s important to remember that buying a home with a mortgage is still affordable compared with other leading global markets.

Don't forget to scroll down to check out our readers' money-saving tip – this week, we explain how unsubscribing from retailer emails can help you avoid temptation and save more. You can email?[email protected] ?to share your best tips.

Deepthi Nair

Personal Finance Reporter?

Which currencies allow you to travel more for your dirham

For Bhumi Joshi, a marketing specialist at construction company Khansaheb Group,?travelling is an investment .

A weaker currency does not always determine her travel choices, but it helps her spending money go a little farther due to?favourable exchange rates .

“For example, during a recent?visit to Sri Lanka , we were able to spend and stay luxuriously, compared with my previous?travels to European countries? like Amsterdam or Paris, where we had to keep an eye on the fluctuating euro rates and book in advance to budget the trip,” Ms Joshi says.

Read the full story by Deepthi Nair …

A guide to mortgages in the UAE as interest rates rise

Over the past three years, through a period of global uncertainty,?the UAE’s real estate market ?has remained buoyant.

Low interest rates, an?ample supply of homes? and policies that?encouraged long-term residency? in the UAE meant more people were considering buying a home in the country.

While?Dubai continues to lead the domestic real estate market , Abu Dhabi, Sharjah and Ras Al Khaimah are also attracting buyers.

Read the full story by Fouad Chemlati …

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A guide to?construction and real estate jobs .

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Money & Me

Money saving tip #14

You probably receive many emails from your favourite shops offering the latest promotions and selling deals you supposedly cannot miss.

Unsubscribe from these emails so you won’t be tempted to buy what you don't need and stay focused on saving.

You can curb the urge to impulse shop when you don't get these constant emails to remind you to splurge.

Have you got a great money-saving tip? Email it to us at?[email protected] ?for a chance to be featured.