Gulf News spoke with Sharjah-based businessman K.V. Shamsudheen who has advised professionals and businessmen on how they can manage their budget to secure their future. Can a family of three, then, live on Dh1,500 a month in the UAE? Click here to find out: https://gulfnews.com/uae/can-a-family-of-three-live-on-dh1500-in-the-uae-1.63175336
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00:00Music
00:18Unless you decide yourself, nobody is going to help you to save money, to invest money.
00:25So first you decide yourself to have a comfortable life back home.
00:30I must save money now.
00:34I must invest that saving for the future.
00:38Music
00:41After spending you cannot save.
00:44So if you decide to save a particular amount,
00:48keep that amount aside and live with the balance amount.
00:55Music
00:58Always give a formula.
01:0230% of the income we must keep for the future.
01:0830% of the income we have to spend for our current life.
01:1530% we have to keep to build house, to educate our children and all.
01:23We have a 10% balance.
01:25Out of the 5% for entertainment, 5% for a small insurance.
01:32This is the thing.
01:33Music
01:37You have to, each individual has to control the expenditure within that.
01:44That is a culture we have to develop within us.
01:49Music
01:58All the segment of the people, all the income category of the people, they are doing it perfectly.
02:05Music