Yes! My blog “The Expat Money” is live now.
I have been excited to build this blog for the purpose of sharing with my fellow expatriates my various experiences here while I am abroad. The blog tackles about how I managed my earnings from my job. I want to share with you how I saved and especially how I started entrepreneurship like this blog.
The Expat Money blog is live because I also want to document all my successes and ups and downs as a working expat by way of writing. There are many ways how to document the scenarios of your life. You can do it with video and upload it on youtube or on Vimeo or even on your own website. I prefer to write it in a blog like this. Less hassle for me, in a way.
The best thing this blog “The Expat Money” can do, is to reach every expatriate all over the world. This blog will tell you how I saved my income from my job wisely. This will give you an idea as to how you can do it yourself. Well, this blog is not only for expats but to those people who would like to create a different life by saving, investing and entrepreneurship.
The first time I came here in Dubai and worked as an expat, I didn’t think of saving even a part of my income from my job. When I received my salary, I spent it in unimportant things or “doodads” according to Robert Kiyosaki. I bought cellphones (take note, plural). I bought new shoes. I bought branded clothes. I had no discipline about keeping money because I was looking at the big salary I received. I was expecting that there is another salary will come. I didn’t have discipline. I lost focus on saving money.
After a few years of working and doing the same thing over and over again – spending money with those doodads, I ended up losing money and plunged into a big “credit card debt and personal loan debt plus car loan” scenario. For those of you wondering how I got there, I took out three credit cards from three different banks and took a personal and a car loan simultaneously.
When I had the three credit cards. I swiped here and there, I was thinking that I can pay the accumulated credits because I have a big salary as an engineer. But I didn’t realize that I was slowly sinking into the hole of debt. I was terribly lost and was starting to dig a hole for myself without realizing it.
I also got a personal loan and it was shockingly huge money. My plan was just to get a small amount just to pay for the personal necessity that needed to be paid which I left in my home country. But the bank broker then was so insistent. She forced me to get an amount total of twenty thousand US dollars ($20,000.00). Believe me, during the construction boom in Dubai, before the worldwide financial crisis in 2008 I thought I was invincible. The bank broker before was insistent to get you a personal loan. If you can relate to this “you were in Dubai those days.”
I also took a car via bank loan. I took the car just after the financial crisis. It was worth approximately $16,847.00 – a trusty Toyota Yaris which I still use today.
So, it was multiple types of debts which I was suffering in my first five years in Dubai as an expat. From that time on, I’d realized that this is not the way towards a “good life.”
If you can relate to this story of mine, then please stay tuned to this blog and read because I’m going to reveal how I went back up from the dungeon of debt and became a good saver again. This is the reason why this “the expat money” is live.
What do you do with your salary when you receive it? Can you relate to what I’ve done as stated above? Please share your thoughts in the comment box below.