Change the Way You Think about Money
This seminar is full of unique ideas, new concepts and...
A few days back, there was a rumor about a steep increase in the Fuel prices for July. It indicated that the fuel price in UAE would be more than AED5.00 per liter. The authorities rightly negated this.
However, the actual prices for July are still a steep increase from the previous month, which were already high!
In light of this relentless Russia -Ukraine war and rising fuel prices and inflation, managing our fuel consumption and expenses has become crucial.
Otherwise, it could burden our budget(Mind voice - hasn’t it already?)
(Mind voice - It is a cliche) Yes, I know. But still, not many people are actually practicing this simple idea. With just a little effort, you can find at least one or two colleagues in or around your neighborhood.
You can also use social media or community WhatsApp groups to identify other people interested in carpooling.
Unlike before, taking out your car for multiple errands doesn’t make sense anymore. Plan your journey to club activities together, saving you time and fuel. Consider walking or cycling (Mind Voice - Do you know how hot it is outside?); Try early morning and late evening; they are also good exercises.
With the current fuel prices, it makes more sense to travel 10 km less by taking Salik. You can not only save on fuel but also consider the depreciation on the car and the frequent need for servicing due to more kilometers traveled. (Mind Voice - This makes sense. I don’t have to feel guilty about taking the Salik route anymore)
Track your fuel expenses and kms traveled weekly and aim to reduce by 2.00 -5.00% every week until you achieve an optimal level. Use a smartphone app like Fuelio to track and manage your fuel consumption.
If it is possible to communicate over Zoom/Meet/Teams or phone, do so. Sometimes there is little or no benefit to traveling 2 hours for a 15-minute meeting. Use digital signature tools like DocuSign or Adobe sign to get contracts signed. Even large international insurance companies are accepting digital signatures.
Mostly is not essential to collect or deliver stuff in person or using your company’s resources. Use a courier company to do so. It is efficient and can save fuel costs and, more importantly, time.
Especially to places with proper connectivity, and during off-peak hours. Dubai has one of the most comfortable public transport infrastructures, give it a try.
(Mindvoice- what about rent increase and moving costs?) Think about the overall savings and the extra time you will have.
( Mind Voice - does Sunday count?) Yes - For starters!
(Mind Voice - I wish, Tell this to my boss!)
So these were the ten ideas I could think of. Let me know if you have any better suggestions, and we can add them to this list.
Save Fuel, Save Money, Save the world.
Author, Blogger & Independent Financial Advisor. My goal is to give you actionable tools for creating passive income and building wealth. More than 10,000 expats have already used my ideas to jumpstart their journey towards financial independence. Connect with me to start yours...
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