MoneyCamel.com in Media

Living expenses in UAE

With rising inflation and still elevated rentals, expats find it hard to save in this environment.
Personal finance experts believe there are many ways through which one can save to the maximum extent possible. Rents contribute to the largest piece of the expenses pie, followed by travel, and other expenses.

“The most important thing here is to save on commission cost. Tenants can contact the developer or owner of the house directly to avoid paying commission to an agent,” Preeti Harrison Bhambri, founder of personal finance portal MoneyCamel.com told Gulf News. Bhambri also said that one should also check if the maintenance cost is included in the rent. “Good houses that come with a maintenance contract can help you save much,” she added.

Published: Gulf News- July 19,2015

Travel tips for 2015

As thousands of travelers prepare to go overseas this weekend or during the rest of the summer, Dubai’s money experts are advising them to keep an eye on their spending, lest they return home with a big hole in their bank account.
According to Preeti Bhambri, managing director at MoneyCamel.com, tickets are actually more reasonably priced in August this year. However, keep in mind that it is better to avoid booking tickets right after school vacations, particularly between June 26 and July 6, and also immediately after the first day of Eid, or between July 19 to July 26, according to Bhambri.

Published: Gulf News- July 14,2015

credit cards uae

With credit cards being widely accepted everywhere you go, it seems unnecessary to carry cash or even use your checkbook. However, using credit cards can be a costly affair. If you miss one or several payments, banks are quick to charge late payment fees and the interest rates can cost you a house in the long term.

“Credit cards are the most expensive form of finance with interest rate in the range of 32-36 per cent per annum. In that sense, any credit card bill paid partially involves that kind of interest,” said Preeti Bhambri, founder of personal finance site MoneyCamel.com.

Published: Gulf News- July 5,2015

Out of the 3,288 Mena residents polled by market research firm YouGov, six in ten (60 per cent) said they actually spend more money during the fasting season compared to the other months of the year.

Preeti Bhambri, founder of personal finance website MoneyCamel.com, agrees that consumers do prepare large quantities of food for Iftar and to give away to charity. She said that, as the culmination of the holy month is also celebrated by exchanging presents, people buy gifts in advance, or during Ramadan in preparation for Eid.

Published: Gulf News- June 24,2015

It’s not just new cars that are being driven away from dealerships across the nation — buyers are happily putting their money on used cars as well.
An online classifieds portal for new and pre-owned cars, states that the used cars market in the UAE is worth almost $2.5 billion (Dh9.1 billion) and growing at 15 per cent annually.
Demand is also being driven by faster loan approvals and easier access to financing offered by banks and dealers. “Used car finance depends on the model of the car,” says Preeti Harrison Bhambri, Managing Director of MoneyCamel, a UAE-based personal finance website.

Published: Gulf News- June 22,2015

Can Dubai resident get debt consolidation with Dh290,000 on credit cards?

Preeti Bhambri, founder of moneycamel.com, a price comparison website says:

Debt consolidation is the right approach towards reducing your financial obligations. This type of loan takes over an individual’s existing loans and credit cards, consolidating them into a single loan.
This usually results in lower interest rate payments. The loans and credit cards are then closed by the customer leaving them with only one loan to pay. Considering that you have managed to take out a bank loan and multiple credit cards, you are probably working with a company that is on the approved list with banks.

Published: Gulf News- June 19,2015

 

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