With responsibility comes accountability too, and the best way to take care of

Life of an expat offers new beginnings: a chance to broaden horizons, live anew and explore multitude of possibilities for growth, and adventure. Beneath this is also a promise of a financially better future, especially if the move is to a tax-free zone like the UAe.

in the midst of setting up a new house, building up a social network, helping kids settle down and the usual humdrum, do not let your personal economy get affected. Home to a large number of multinational and local banks, the UAe financial institutions have the means and expertise to help immigrate your existing financial plan and formulate a new one that fits your current situation just right. expat finance is all about catering to your needs in a new place you call home.

Looking to buy a car or home here, or need funds to manage expenses better? You can rely on banks in the UAe, as they are well attuned to the needs of the expatriate population. Abu Dhabi islamic Bank (ADiB), for instance, offers a range of products including car finance, personal, instant, education loans and boat finance, ADiB job loss protection, etc. Union National Bank and CBi too have similar products that offer financial help for varied needs as well as protection plans against calamities.

Besides, there are other products tailored especially for expats that align your goals with your finances. You can take comfort in offshore banking or onshore products and get along with the expatriate life withabreeze.

if you have just moved to the UAe, or are taking a fresh account of your financial plan, we have a few tips to share:

One of the first commandments of personal finance is to set aside at least six months of running expenses. The idea is to have a cushion in case of an emergency. Once you have built up such a reserve, you can keep it safe in a savings account (where it might not earn much considering the benign interest rate environment) or stow it away in a fixed deposit account. this is through an insurance cover. A health cover for all in family ensures best medical care when required, and a life cover promises to fill in financial gap in case of an interruption or cessation of earnings of the main caretaker. financial advisers at banks and independent financial houses can help you ascertain the amount of insurance cover you should take.

The idea of paying yourself first is a wonderful way to realise financial goals. Whether it is your dream to buy a swanky new SUV, have a relaxing 10-day vacation every year, attend concerts of your favourite band, or anything else, saving every month will help your plans see the light of the day without a hitch.

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