Friday - - Beauty -

Q I am start­ing col­lege this year in Dubai and want to be a lit­tle more re­spon­si­ble with re­gards to fi­nance. Can you sug­gest some money-sav­ing tips?

A It’s in­deed in­spir­ing to see to­day’s younger gen­er­a­tion be­ing re­spon­si­ble and seek­ing money man­age­ment tips.

I won’t rec­om­mend you work to earn some extra dirhams. Col­lege, it is said, is the best time of life to en­joy your­self and have re­spon­si­ble fun. But the fun doesn’t mean you have to over­spend.

Plan your bud­get to have a few extra dirhams in your wal­let at the end of the month. Avoid din­ing out fre­quently with friends, make a food bud­get and stick to it. In­stead of buy­ing books, con­sider book sharing or visit li­braries. Browse the op­tion to buy a sec­ond-hand or on­line ver­sion of your study ma­te­rial.

Use public trans­port rather than your own car. Since, the govern­ment pro­vides var­i­ous dis­count of­fers for stu­dents to com­mute on public trans­port, get the per­sonal Nol card, which of­fers dis­counted travel. This can save a lit­tle extra on things like hourly park­ing fees if you don’t have uni­ver­sity park­ing, along with petrol and reg­u­lar main­te­nance ex­penses.

While out shop­ping for items such as food, study sup­plies or cloth­ing, al­ways keep an eye out for dis­counts. A few stores do of­fer con­ces­sions for stu­dents. Use plas­tic cash min­i­mally. Rely on cash for daily trans­ac­tions.

For week­end nights out in Dubai, avoid the ex­pen­sive ar­eas. Look around for of­fers or plan a group ac­tiv­ity so you can chill out with friends. You could get dis­counts.

Use the sum­mer or win­ter breaks by tak­ing part in in­tern­ship pro­grammes. Some firms might of­fer paid in­tern­ships as well. If not you can earn the knowledge and ex­pe­ri­ence dur­ing your se­mes­ter break time rather than go­ing on va­ca­tion. This can stand you in good stead.

DHIREN GUPTA managing di­rec­tor of 4C Mort­gage Con­sul­tancy, is a fi­nan­cial ex­pert

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