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. https://www.thenational.ae/business/money/six-things-you-should-do-to-protect-your-finances-today-1.883458
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SIX THINGS YOU SHOULD DO TO PROTECT YOUR FINANCES TODAY
We live in uncertain times and right now, that uncertainty seems to be on the rise. After a decade of growth, the threat of recession is looming. This makes now a good time to take a good look at your finances to see how well you are prepared for an economic slowdown. Here are six things you must do now: Live within your means. This is not the time to go throwing money around. Instead, it is a time to build your savings, says Arun Leslie John, chief market analyst at Century Financial. “Aim to save 20 per cent of your family income," he says. "Stick to a budget, postpone vacations if necessary, and educate your children about money management." Examine all your outgoings to see if you can cut back. “If you have an expensive apartment in the city centre, see how much you could save by moving further out, although remember to allow for increased transport costs,” Mr Leslie John adds. READ MORE