Save more while spending in Qatar

Qatar being a tax-free country, makes saving an easier option. It depends on your lifestyle as well. Spendthrift tendencies do not allow for any saving room. It does take discipline and careful planning to be able to save enough money for a rainy day or for a future plan. Here are some tips to save money in Qatar while enjoying the perks of a comfortable lifestyle as well.

-Save receipts of your shopping for a certain period of time. I always save receipts for at least 15 days before disposing of them. There are two advantages of doing that. One, if an item needs to be returned I can fish out the receipt and do so easily. Second, I can tally and compare any changes in grocery items whose prices increased or fluctuated from last time.

-Allocate a budget for yourself and your family on a monthly basis. Keep track of overspending, and saving. Overspending should be compensated as soon as possible. And saving can be rewarded by a little treat (keep it modest or it will defeat the purpose). It is up to you how you set the boundaries for yourself and your family. Teaching saving tips to children inculcates good spending habits in them since early years.

-Avoid shopping on impulse. When you go to malls it is not possible to come back empty-handed. And in the summers, malls are the target areas people head out to. Make a strategy for your mall trips. Dish out a budget for eating and spending, if you must. But don’t go and buy the first pair of shoes you find adorable! Think over them, give it some time. Tell yourself that you will give it a day and come back for the items you want to buy the next day. If you wake up feeling that irresistible urge the next day too, you might as well buy them. But limit it to that; don’t start a new shopping spree the same day. The keyword is, ‘discipline’.

-Set a money box aside for yourself and for each member of your family. You can give it a name and paste it on the box to make it a fun experience. ‘Vacation treat’, ‘clothes and blings’, ‘Apple accessories’ are a few ideas; you get the gist. This is a personal savings box which you keep adding money in each month. Add as much as you can and want to every month, and do try to put in as many QAR 100’s as you can. By the end of six months you can surprise yourself by opening the money bank and discovering how much you saved. You might be able to go on a short vacation, or buy something on your coveted list of items. If you have more perseverance, even better. Keep collecting funds for yourself for a rainy day. If you ever need money in an emergency, you will thank yourself for this.

-Find deals and vouchers through companies or in shops and avail of them. Many companies provide rebated offers and deals to customers who register with them. Qgrabs, The Entertainer, My Book Qatar are a few good options to start with.

-Maintain your car regularly and keep the engine tuned to save from damage at a later stage which will prove more costly. Find cars through online portals when looking to buy one. Due to expats leaving Qatar throughout the year, especially in summer, many vehicles get sold at affordable rates here. 

-Stay updated on the rental market through this page when looking for a villa or apartment to move into. Rental costs have reduced in the previous months, on offers which you can avail right now.

-When deciding for a vacation, check and tally all agencies and flight plans. Opt for the choices with good facilities at lesser rates.

-Keep your AC’s running only in the rooms that are being used. Keeping AC’s running throughout the day is not advisable, when no one is present in the rooms. It will make a difference in your electricity bill too.

-Try to reduce daily commute by living near your workplace. If your office is near but children’s schools are far, come up with an arrangement like carpooling for yourself or the kids. Or choose your house midway, but not very far from your workplace.

What tips do you have?