Nearly half of UAE residents to use bonus to pay off debts

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

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