How not to go broke in Qatar
Alrighty - we are in the land of tax-free incomes and cheap petrol. Qatar offers a range of fabulous experiences to keep one intrigued and excited. With the whole 5 star lifestyle though comes crazy high prices. In Canada, or anywhere in North America, almost every dollar is accounted for, so although cash is more liquid in Qatar, still, sometimes you have to ask yourself “why I am I here?”.
I’ve met some friends who do the brunches every single weekend, granted they are single. For families, they may do it less often. Yet, when you crunch the numbers, that single person is spending 1000QR/month - or more - every single month on one weekly meal. That’s 12 000QR/year folks. You could buy gold or diamonds with 12000QR per year.
Now not to say you can’t enjoy these lovely places, because they are awesome. But just because there is a bit more cash to spend, doesn’t mean it should be spent.
So here’s how one can enjoy the treats of the Middle East while still making sure you bank some of the money you are working hard for.
First, look for the cheapest rents possible. The rent scene in Qatar is through the roof. So if you’re single, find a roommate. If you’re leaving for a month on vacation - rent your place out. Aside from that, hunt for a good rental deal. Rent is throwing away money - so try to keep as much of it as you can. Currently, it’s a renters market, tons of flats are empty and people are leaving the country. Exhaust all your options when looking for a place to rent. Certain areas are cheaper than others and may be worth the slightly longer commute for the larger savings.
Second, learn to like cooking. This is a huge money-saver anywhere in the world! In Qatar, eating out often goes hand-in-hand with socializing. During the hot weather people like to meet up at cafes or restaurants. At the very least, choose wisely. For me, I’ll often eat out when I’m short on time to cook. So try and find places that offer great deals and convenience. This can sometimes spell the difference of spending 100QR on a meal compared to 40QR.
Thirdly, fiigure out how to stay out of the malls. Considering the climate, malls are hubs for entertainment, socializing, and family outings. STILL, malls remain a hub for shopping. Whenever I get an invite “to go shopping”, I flat out refuse. Why? I don’t need anything, but I won’t be leaving that mall without purchasing something. Join a gym, meet up in the evenings and go out for a walk, but try to find other ways to hang out than in the malls.
Try to avoid the travel bug. Seeing as Qatar is in close proximity to everywhere (from a Canadian’s perspective), one may feel the urge to travel and see as much of the world as possible. Granted, there can be great deals and loads of budget travel options, but your expenses for any vacation (especially with a family) will be in the thousands of riyals. Thus, try to make a travel budget at the beginning of every year and stick to it. Also, join all of the frequent flier programs, over time they do add up.
Finally, and most importantly, set some goals. I see fellow Canadians blowing money like it grows on trees here - even with massive lay-offs happening everywhere. Yet, none of them own real estate or anything back home. Thus, if you want to keep your spending in check - set some goals. Aim to buy a house, condo, or land. Or think of higher education goals or even business investments. And don’t just think about goals in the back of your mind, actually get the ball rolling to put your plans into action. Once you realize you want to invest in something expensive, valuable, and waaaay out of palms reach, many of your small senseless expenses will disappear. Goals help you focus and prioritize. Think of what you want in life and set out to make it a reality.
Don't make the same mistakes of many expats who return home empty handed... or even worse - in debt!
Canadianrunaway,
In reality you do not know the financial position of your friends. Unless you are asked, it really is not your business how they spend their QAR.
Very Well said
Blogging is a great way of getting noticed.. But have the decency of having a single point of view .. Don't change just for the sake of posting
Possibly, people have not gauged the talent that is available in the East simply because they haven't been there. They believe everything good originates only in the west. There are many from the East or Africa who do not get their fair dues simply because they do not have the right skin colour or the right nationality. I have seen many real cases of racism in real life in the ME. In S Arabia at a plant to which I was attached, a British mechanical engineer tried to fix a cryogenic pump that broke down every couple of months. This went on for several months. Finally, a mechanical supervisor who was from an eastern country and who was not even a qualified engineer advised the management he could fix the pump and gave a guarantee it would work without fail. The management gave him the go-ahead. He made some minor modifications to the pump and the machine never broke down for several years. The Arab management raised their hands in appreciation. Yes, the mechanical engineer was drawing a hefty salary. That was just one case I have highlighted. While I worked for a major Japanese sub-contractor, there was a civil engineer from India working at the project in S Arabia. The Japanese took this engineer along with them wherever in the world they got a project. He was that good. At this same project I came across a Safety Supervisor from the Philippines. He was exceptionally good at his job. He never got promoted to the position of Safety Manager simply because the white S Africans running the show had set up an unwritten law of not allowing dark-skinned people at that post. My company had hired a General Manager from the UK at QR 50000. He was required to bring about improvements. He could not survive 3 months! Want to hear more? I am not being racist. I am not jealous. I speak on ground realities.
another way to save is to not buy 150 ryial tea!!!
The best things in life are free. God be with those who have to pay for everything good. -
Wunae, I second your comments
Sounds like a bit of jealousy going around here. If people are earning a salary that lets them spend 1000Qar a month on dining out, good. Lucky them, they should enjoy their wealth and status.
You wouldn't walk up to a Qatari and tell him not to spend 1000Qar on a thobe, so why do you presume to tell an expat not to spend 1000Qar on something?
Get over yourself - if other people are paid a lot more money than you, and can afford to enjoy their life, quit preaching to them and making yourself miserable. Rather than being jealous of their success, you should try to learn from them. Stop with the ridiculous nonsense that people are simply overpaid for some irrational reason - have you ever considered that people earn huge salaries because they deserve it? And if your immediate answer is 'no, they are just dumb westerners' then you need to deal with your inner racist feelings.
Live your life, and enjoy what God has given you, and get over your jealousy.
Well said Canadianrunaway and well commented Acchabaccha ; this quote ? re you Tunisian ?
By the way , whish to all Ramadan Kareem, may God bless all muslims.
In my part of the world there is a saying "Stretch your legs as far as the bed sheet and not beyond" which clearly conveys the meaning.
Before she said, live life to the fullest in Qatar, don't stash it all away and enjoy it! Now she is saying be conservative... what a hypocrite!
Best thing to avoid getting broke is living within your own means based on what you earn and don't take out personal loans, unless in an emergency. Simple as that!
@acchabaccha.
You are v. correct.
I respected the low income earner so much.
They work v. hard and earn v. little, some as low as QR 600 per month and they are still able to save and send some to their family back at home.
Sometimes, when I see them I just pray that God will bless them.
She is probably writing for her fellow Canadians. So, it won't apply to 99% of the population here. It's an egalitarian advice only and should be neglected because it's worthless.
In last post you were complaining that most of the expats live as if they are on borderline poverty. How come you are saying otherwise now.
Your statement "I see fellow Canadians blowing money like it grows on trees here..." is very true. There is an English saying: Easy come; easy go. Many people from your country have not seen that much of money in their lives coming to them so easily and so quickly. The nationality factor gives them an edge over people from the east and African countries. I have rubbed shoulders at work with many westerners and know their true level. Hence with the easy income flowing in, they go on a buying spree and are unable to control their expenses. If your countrymen want to learn the "art of saving money" ask them to look deep into the lives of workers who toil the whole day, manage to get say QR 1500 a month, eat, maintain, spend, remit money to their families back home --- and then still manage to save.
Well said :-)