Qatar, the little Middle-Eastern country has proved over the past few years that the area or size of a country does not matter when it comes to becoming successful in the global arena. Qatar attracts foreign workers from all corners of the world in thousands per month; the country has become a symbol of stability and development in the region.
However, living in Qatar can be very costly if a person is putting up in the country with his family and we all know making money is not easy, and mainly when you are an expat working in Qatar, every single penny counts. Today we will provide you with some tips as to how you can more efficiently manage your income and expenses in Qatar while living with your family:
Planning:
As a parent or a spouse, it is instinctive to protect our loved ones and provide them with the best kinds of facilities that one can afford. It is imperative that one plan for the future as one can never be sure about the events of the future. To secure your future financially while working in Qatar, you must invest in insurance policies and set up a separate and dedicated savings account that is harder to get to than your checking account and match your salary hikes with your savings and consider savings as a monthly expense.
Food expenses:
The restaurant scene in Qatar is very vibrant and one can never run out of options for eating out, however, eating out frequently can be a costly affair and can take a dent in your savings.
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To save money in Qatar while with your family, one has to be smart when it comes to food expenses. Make sure to restock your groceries from the farmer’s markets where you will get fresh vegetables at low prices and for other grocery items you can avail discounts that are offered by online grocery stores such as AtPik.
Say no-to impulse shopping:
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Additionally, plan any big purchases accordingly when the markets are offering hefty discounts. Do not use your credit cards unless it is necessary.
Education:
Education of children is one of the most important expenses in the budget of expats who live in Qatar with their families, and nobody wants subpar education for his or her child. Schooling in Qatar can cost up to QR60000 per year in private schools, so expats while considering to move with their families to Qatar should try to negotiate the educational costs with their respective employers so that some of the burden is lessened.
Smart spending:
If a person is bad at managing his or her income, it does not matter how hefty his or her salary his, it would have vanished well before the next salary is due. Expats in Qatar can add those precious little savings to their over-all savings by smartly spending their money. For instance, expats can drastically cut down their communication costs by making use of apps such as WhatsApp, Skype etc. Similarly, expansive TV packages can be taken care of by subscribing to services such as Netflix, which will cost a fraction of the TV package cost. In the same manner, other expenses can be brought down by keeping track of the discounts and availing them whenever you can.
Utility bills:
In Qatar, it costs within the range of QR200 to QR500 for phone and internet. Water, on the other hand, will cost you QR4.40 per cubic meter up to the first 20 cubic meters, whereas electricity costs QR0.08/kWh up to the limit of 2000 kWh
Your mobile phone and Internet bills will range from about QR 200 to QR 500 depending upon your usage.The water tariff in Qatar is QR 4.40 per cubic metre for up to 20 cubic metres of water, while the electricity tariff is QR 0.08/kwh for consumption up to 2,000 kWh
Credit: Qatar Day
URL:http://www.qatarday.com/blog/information/spending-smartly-to-cope-with-qatars-cost-of-living/32314?pg=3