Dubaism - Saving attempt amidst 'SALE!'

Sale! Sale! and Sale! has caught us all up in the spending culture. Essentially, wise spending is a way of counteracting the culture of the consumer society. Sale as a modern marketing and the omnipresent advertising to go out and spend, attenuates every characteristic of wise-spending in pennypincher. As a result, an average person in Dubai has more personal possessions far beyond their need. Ooh the spending has matched corresponding rise in borrowing money and discovery smart spending magazines and TV shows where more advertising is done that leaves the spenders even more desperate to spend. Nothing surprising about one of us frozen with high level of personal debts.

Financial planning brings to mind things like clearing debt, saving and investing money wisely. What many of us overlook is the effect wise spending can have on financial planning. While savings, planning and careful consideration of investments is vital to the good management of personal finances, we again don't often consider analyzing our spending patterns, why? the city is on its wheels and always on the move, decisions, plans and projects are made on the move. I have witnessed dozens of business deals sealed on whatsapp and on texts while driving or in the metro, spending too is as impulsive as confirming 5000 Dirhams deal on the train, then alighting on the next station to spend half of it.

Our brains naturally actively forgets dis-confirming evidences. We can't have observed the academic 'sale' where short course packages are going for equivalent of the fees paid for the  entire four years at the university with strong assumptions that this will increase our earning power, and we find daily proof to support our case, coextensively we don't know of any person who have tripled their earning from having these courses yet we are flocking the registration desks.

Yesterday I was shopping for a pair of shoes. I had to be specific, list down the shops I will visit, for price comparison, they had to be shops where I am sure to find king-size shoes as the first step of dealing with my already stinking irrational spending habit. I have been the chief of those that think budgeting is a uninteresting activity that prohibits me from having good time or owning all that my eyes sees and likes. My same fingers that have been pointing at poor economy, currency loss of value, inflation are the fingers mostly involved in discretional spending on all kinds of non-essential items. I have never been in charge of my finances so that I can have more freedom in spending today while having a peace of mind for the expenses of tomorrow. My irrationality has required that I forget the cost I have incurred to date. I have been like a direct descendant of a wastrel to the point of the painful realization, closet flooding with clothes, shoes and bags I hardly wear.

One side of the coin is that I am drawing retirement, house, children education, emergency cash plan. I will integrate all my bills to one due date, this way I have once a month worry for spending, I will carry the least possible amount in my wallet at a given time, this way I spend less and all my existing attractive remains. The other side of the coin is that I have not succeeded in more than six years to convince myself with my progress. Okay, okay am lying, I have not done anything at all during this period other than unnecessary travel, unappreciated charities, destructive fun, acres of personal belongings and emotional content.

Today I inaugurate a liberator, a wise spending personal regime that will focus more on what I spend my money on. This regime to me will only formulate an easy theory, that goes like this "dispense with wasteful and impulsive purchases that don't add value to my life" One of the key components of wise spending is that I develop the habit of thinking before I spend. Is making a particular purchase actually a good decision or is it being bought on a whim? By asking myself questions before I spend, if I actually surprise myself by answering in the negative I end up not making the purchase.Today, the internet makes price comparison much easier than in the past. The wise spender takes a little time to research the cost and where to find the best deal. They also take advantage of any kind of special offer. It is often amazing how much money can be saved by concentrating on prices and buying at the best possible price.