MoneyCamel.com in Media

If findings of a new research were to be believed, both men and women who have not yet tied the knot have one more reason to smile about: their pockets seem to be better off.

Analysis by price comparison website Confused.com showed that married couples tend to spend Dh13,000 (£2,340) more a year compared to their single peers.

In terms of living costs, for example, couples spend a little over Dh1,000  a month more than those who are going solo - couples spend, on average, Dh5,600 a month, more than double the Dh4,500 monthly expenditure by single consumers.

When it comes to household costs, such as rent, mortgage, bills, the married ones spend Dh3,000 more a month.

Published: Gulf News- June 7,2015

Those who are looking to invest in an insurance plan are likely to spend more on premiums if they are amply endowed around the waist, financial planners told Gulf News.

Insurers take into account a number of factors before approving an insurance application, and the person’s weight, along with the medical history, can increase the price by as much as 25 to 40 per cent.

“When individuals approach insurance companies for life insurance, the [insurer] does charge a higher premium to the individual for being overweight,” said Preeti Bhambri, founder of personal finance website MoneyCamel.com.

Published: Gulf News- June 2,2015

92% of residents in UAE have at least one dependent

For many expatriates working in the UAE, families come first. In most cases, they put the needs of their parents, children and siblings, above their own, making sure they save a portion of their income to send back home.

Financial experts said there is nothing wrong with providing financial assistance to family members in need, but they need to save for themselves first, to ensure they can survive on their own when they are no longer able to work.

Bhambri said it is important for expatriates to think about their own financial security. Investing a portion of their income in a comprehensive life insurance plan, for example, can prove useful in the future.
Published: Gulf News- May 25,2015

 

 

These are the findings of a new research commissioned by Zurich International Life. The study, conducted by YouGov, found that 71 per cent of residents in the country will get a bonus  in 2015.

When asked what they intend to do with their bonus, a significant number of the residents, or 39 per cent of the 1,000 respondents surveyed, said they will use the money to pay off their borrowings.

Preeti Bhambri, managing director of MoneyCamel.com, said using bonus to settle debts is a wise move, although the findings of the study support the view that the general public in UAE are "being overburdened by debt."

Published: Gulf News- April 14,2015

Amid the high volatility in equity markets in the UAE, small investors, who care about their capital protection, have plenty of options.

The best option for a savings plan is a bank deposit, which gives 1-2 per cent interest rate. In case of a slightly larger time horizon of about a year, there is another category of savings scheme that banks offer with a million dirham prize.

“These include Ghina Savings Account, Al Awwal Savings Certificates, National Bonds and of course the pioneer Mashreq Millionaire. These schemes offer 100 per cent capital guarantee and a chance to win up to Dh2 million dirhams in the grand draw,” Preeti Bhambri, managing director at moneycamel.com, personal finance and property portal, told Gulf News.

Published: Gulf News- April 4,2015

Studies show that people are more willing to pay higher amounts for the same item when using credit cards as opposed to paying in cash.

According to Preeti Harrison Bhambri, Managing Director at MoneyCamel.com, a property and finance portal, the way around this problem could be people using their cards as they would use cash and being conscious of the amount they are spending.

“Credit cards should be used as a means to pay for planned expenses or needs. Do not create new expenses just because you want to avail of a discount/loan plan offered on things you want.

Published: Gulf News- March27,2015

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