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12 Secrets To Improve Your Personal Finance – 13 & 14 Are Bonus

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I arrived in Dubai with great expectations of financial security for my family and myself. It really did not take that long for me to realize that my expectations had quickly dissolved into a pile of debt that I was not equipped to deal with that’s why we will deal the secrets to improve the personal finance of every working dad or mam is a great message to everyone.


It only took me weeks to find myself in a situation that I did not even think was possible. You see without planning and discipline with your finances debt can either creep up on you or hit you over the head like a sledgehammer. The latter happened to me. I had a huge mistake!


It is possible to improve the personal finance situation. However, I needed to dig deep and find out how it was possible to improve my personal financial situation. In my early life in Dubai, I attended a financial literacy course to gain the knowledge needed for me to fall into financial ruin. I later became a member of the institution. You see it is of the utmost importance we do what is ever possible to ensure we achieve our financial goals short and long term.


I started to work my way out of the situation by working overtime if it was available. Sometimes I would work over to show my boss I was a worthy employee, but also it kept me out of my room where I would be running my own air-conditioning and using my own electricity. When your back is up against the wall, you need to be creative.




If your employer supplies lunches make sure you do not miss it, if you do, you will be paying for food later that day. I am on my own now and the only person who could save me is I! I read books and researched financial awareness just about every waking second I could. I will share with you what I needed to learn in the shortest space of time in the hope you do not make the same mistakes was I did.


Here are the “12 Secrets To Improve The Personal Finance of Every Working Dad or Mam.


1. Pay yourself first

 What do I mean by this? I mean for you to take a percentage of your salary and save it. You could decide to start by saving 20% each month, but be sure to maintain the 20% and then increase when you are able. It is important that when your salary increases you also take the 20% from your increase and save this also. After the first year, it is normal we only get one salary increase per year, but be sure to maintain always your percentage of savings for your future.

According to Investopedia that the best definition of “paying yourself first” out of your paycheck is that you build up a nest egg to secure your future. This means that if you have a will to have a file of money in your retirement this is one of the best ways to improve the personal finance of every working person.


2. Set financial targets and save

 Without a financial target, it will be easy for you to stray of course with your planned savings. Make a target for your savings and stick to it. Your target can be whatever you wish but I suggest you make a target you can achieve, do not target saving 50% of your salary, it is not achievable unless you are the CEO. Reasonable targets will see your savings grow and keep you motivated.

 Related Article: 7 Actionable Steps To Realize Your Dream Home

3. Do not invest in your future, buy it!

 At this point of improving personal finance, I want you to consider the following: you need to purchase certain things while away from your family and home country, this is just a fact that none of us can get away from it. However, we all understand we need to buy clothes, toiletries, load for mobile phones, etc.

However, you also need to buy your future and for sure this is the best way to improve the personal finance of a working person. None of the small things you buy on a weekly basis will give you the security you need later in life. Remember discipline is a key element to your future, start buying it now!

This is by far the simplest way to improve the personal finance of every working person almost all over the globe. I believe in the saying, “if there is a will, there is a way.”


4. Create an account for automatic savings

 Now you are on the financial improvement journey, ask your bank to offer an account for you for savings only. When your salary hits your current account, have the surplus cash transferred to your savings account.  When you take a statement from the ATM, the only cash available to you is what you have in your current account. Set aside a small amount of cash for unforeseen circumstances.


5. Do not just save-save to invest

So now, you are saving money from your salary every month you need to consider some options. How much do I need to save before it is enough to consider investing and making my money work for me? It is a good question to ask. Save as much money as possible say over a twelve months period, at the need of the 12 months look at investing.

Seek financial advice from your bank and then approach brokers and make up your mind if you want a safe investment or a slightly risky investment. For the best returns, a combination of both works best.

Grant Cardone said in his article on Entrepreneur,

“The only reason to save money is to invest it. Put your saved money into secured, sacred (untouchable) accounts. Never use these accounts for anything, not even an emergency. This will force you to continue to follow step one, which is to increase income. To this day, at least twice a year, I am broke because I always invest my surpluses into ventures that I cannot access.”


6. Eliminate your debt

Improving personal finance is well within your grasp. It goes without saying that eliminating debt is of paramount importance. Refer to your plan and get rid of the debt. It is like a millstone around your neck and until you get rid of the debt, your financial situation will be precarious.

Related Article: 10 Reasons Why It Is Best To Retire In Palawan

7. Avoid impulsive spending

I have mentioned earlier that you would need the discipline to improve your personal finances. We all want that nice watch or fashionable shirt, but what you want and what you need are two different things. Keep this in mind and understand why you and your family are enduring being apart. It is not for you to have a good time rest assured.


8. Wait for big sales

From time to time, we need to spend a little on ourselves and for our families for our own sanity. However, when you know Christmas and birthdays are coming up, plan for these events. All across the UAE shopping malls are always having knocked down price sales. Buy your Christmas and birthday gifts at these events and save cash. Your family will not think any less of you.


 9. Wait for cashback sales

This is a terrific way for you to save cash. All across the year, online shoppers are offered cashback on sales. Even buying fuel many garages offer cashback to your credit card for using their products. Search online for cashback offers and two for one offers this will save you money.


10. Avoid unnecessary spending

I need to reiterate that you are working overseas for a reason. There is no good reason to overspend, be it on a restaurant or night out or gifts for your family even without special occasions. Keep referring to your financial plan and understand why you have a financial plan. You need to maximize your savings potential.


11. Invest in your knowledge

One of the best ways to get a pay increase or bonus is to continue your education. There are many colleges in the UAE. Enroll and find a course that will enhance your skills and make you more valuable to your employer or in the marketplace. Knowledge is power and cash! Investing in knowledge is the most efficient way to improve the personal finance of anyone because you can gather relevant information.


12. Invest for retirement

So many overseas workers do not focus on the target. At some point in our lives, we will need to retire either because we cannot continue the strenuous workload or we are forced to retire by labor laws. When this day comes, you need to have put yourself in a position where you can retire without worry.

Look at pension schemes with reputable companies. Ask for financial performance projections so you know what to expect. Ask to see the investment portfolio so you know where your money is going. You also need to know about early withdrawal penalties.

Related Article: 7 Major Mistakes OFW Make While Working Abroad

13. Invest for Rental Properties

While working, don’t miss this as this would make you wealthy at the end of your working lifetime. While earning, urge yourself to put money aside to build rental properties. Rental properties are a powerful type of investment because when you lose your job there is your investment working for you and giving you income.


14. Invest for Your Dream House

Some folks I have noticed that before they went abroad they have a huge dream, a dream to build their dream house once they worked abroad. But sadly to say, “they lied with themselves” they lost their dreams. You should never do what some folks have lost. If you want to improve the personal finance of your relative teach this to them.

You should discipline yourself to save parts of your income and once you’ve saved enough it is time to realize your dream home. You can start building your dream home. Some say, “a house is a liability” which is not true for some people. Let’s say you have a big family then don’t tell me that you let them stay in your rented house which is pretty untrue.


Improving personal finance should be at the forefront of your mind. The streets of Dubai-UAE, UK, USA, etc are not paved with gold but if you are sensible and disciplined then you can secure a good life for yourself and your family in the future.


Financial planning is the key to your savings, if you do not understand how much it costs you to live against how much you are earning then you are falling into the trap of financial disaster. Be prudent and frugal with your new way of life and reap the benefits when you most need the cash.

Do you know the above items of the 12 secrets to improve the personal finance of every working person? Did you follow the above 12 secrets? How about the 13th and 14th secrets, did you follow them? 


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