Want a comfortable retirement cushion? Don't do these.

Some, if not all, expats have plans on how long they plan to stay in the UAE. Some are here for three years, some five, some even go for 20. And during those years, they plan to save enough cash to hopefully invest back in their homes for a nice retirement cushion. It all sounds good on paper but there's one problem - the plans often get sidelined.



As some expats reach the deadline they have set themselves, they realise they haven't saved as much as they had hoped. It's a classic scene that many of us don't want to be in. So why didn't you get the opportunity to save despite the generous income you get here in UAE? Here are some reasons.



1. You buy things you want, not need



Do you really need that new shirt? Sure, it might be on sale for such a bargain price. But if your closet is about to burst because of the number of shirts and other clothes you already have, you might as well sit this one out. Remember, you don't need to go to every single sale.



2. You spend before saving



One of the richest men in the world, Warren Buffet, said that you have to save an amount out of every pay cheque first. Whatever is left will then be your spending money. Don't do it the other way around!



3. You're upgrading your lifestyle



Just because you're earning a lot doesn't mean that you have to spend a lot. We're not saying live like a hermit, sure you can spoil yourself. But within reason.



4. You brunch every single weekend



Two simple reasons to skip brunch: 1. You're not spending north of Dh500 for a weekend meal. 2. Your health will give you a massive thank you.



5. You're borrowing money



There's an old adage that says: 'Don't spend money you don't have.' That being said, please don't borrow money from your friends. Whether you intend to pay them or otherwise, borrowing money is an indication that you're not good with it.



6. You're becoming complacent



To some, life is smooth sailing. But it only takes one emergency to change all that. Do you have emergency funds to fall back on in case you lose your job, falll ill, or get into an accident? You should.



7. You depend on chance way too much



If you plan your expenses based on money that might flow into your bank account in the future, you need to stop right now. Spend only what you see. Which is why some of the best financial wizards advise people to spend cold, hard cash every time, instead of using debit or credit cards. It's a psychological thing. You tend to save more money when you can physically see and touch it.