![\"\"](\"https:\/\/www.middleeastevents.com\/blog\/wp-content\/uploads\/2020\/03\/C-300x209.png\")
<\/p>\nHalf of working residents in the UAE claimed supporting their family financially is a goal they have set for themselves this year. This goal is more important to adults who are 25+ years in age as compared to their younger counterparts.<\/p>\n
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Apart from providing family support, saving for retirement (34%) is a goal for a third of working residents, and for another third feeling financially secure (34%) is a target for the year.<\/p>\n
People aged 45+ years were more likely to prioritise saving for retirement as an annual goal as compared to those between 25-34 years (42% vs 29%).\u00a0 For these young adults, ‘starting a business’ and ‘buying a home’ rank higher in priority, at 37% each.<\/p>\n
Following the goal of supporting their family, a considerable number of women have set a target of sticking to a monthly budget which is notably higher than the number of men claiming to do so (39% vs 30%). Similarly, more women than men have resolved to take a dream vacation this year (33% vs 25%).<\/p>\n
The data shows that people’s financial goals are in line with their priorities. Not only is financially supporting their family a top goal among working residents, it also happens to be the top expense area for a majority after paying all fixed monthly bills. In this regard, 57% residents allocate monthly funds for family which includes remittances or supporting their spouse and kids. However, this expense is less of a priority for Western expats as compared to Asian and Arab expats.<\/p>\n
For close to half (47%) ‘saving and investment’ is a priority after fixed monthly expenses are taken care of.\u00a0 Although 62% are likely to save for the future if they were to discover some extra money (through bonus, gift, etc.).<\/p>\n
When trying to save money, three in five (59%) cut down on impulsive shopping in order to manage their finances. Half sacrifice eating out or ordering in (50%), and for 44% entertainment activities take a backseat.<\/p>\n
When it comes to their finances, a majority of UAE working residents seem to be confident about handling money and display financial prudence. About three-quarters agree with the statement\u00a0‘I have a good understanding of money management’<\/em>.<\/p>\n Furthermore, a large proportion (68%) are financially cautious and regularly put aside money for the purpose of saving, investing or for rainy days.<\/p>\n Even though income earners take steps to be financially safe, just over half (52%) feel confident about their financial planning for retirement. Notably, Emiratis are much more confident about retirement when compared to other nationality groups in the country (with 74% saying this).<\/p>\n Data collected online by\u00a0YouGov Omnibus among 813 respondents in the UAE between 24th February\u00a0and 2nd<\/sup>\u00a0March 2020 using YouGov’s panel of over 6\u00a0million people worldwide. Data is representative of the adult online population in the country<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Half of working residents in the UAE claimed supporting their family financially is a goal they have set for themselves this year. This goal is more important to adults who are 25+ years in age as compared to their younger counterparts. Apart from providing family support, saving for retirement (34%) is a goal for a […]<\/p>\n","protected":false},"author":1,"featured_media":20261,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-20259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/20259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/comments?post=20259"}],"version-history":[{"count":1,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/20259\/revisions"}],"predecessor-version":[{"id":20262,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/20259\/revisions\/20262"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/media\/20261"}],"wp:attachment":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/media?parent=20259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/categories?post=20259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/tags?post=20259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/www.middleeastevents.com\/blog\/wp-content\/uploads\/2020\/03\/C1-300x203.png\")
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