Dubai Consumer Mirror

Friday, October 06, 2006

ATM Heists

Obviously these ATM stalkers are either very dense or just new to Dubai.

Besides the fact its illegal, beating someone up to snatch his just-withdrawn cash is a business module that's not a very sustainable one in Dubai.

Any idiot knows that a typical Dubai consumer doesn't hold the monthly paycheck longer than 4 to 5 working days in the bank account. With the way things are going today, Dubai's minuscule white-collar salaries are quickly vaporizing on:

50% on home rent (best case scenario)
20% on car installment
10% on petrol
5% on traffic and parking fines
15 to 20% on education and schooling
10% on water, electricity bills and municipality fees
5 to 7% on telephone bills or phone cards and Internet

2.5% Service fees (if you live in any of those so called New Dubai estates)
8 to 10 % on general groceries
5 to 7% on clothing and laundry
10% on Dining and eating out

12 to 15% on credit card payments
5 to 7% on personal loans
12 to 15% on the other credit card payments
5% on medication/healthcare

3 to 5% on other misc expenses

I don't think any of these percentages are over-estimated and yes, there is a reason why the numbers exceed 100%.

3 Comments:

  • I'd hide cash in the mattress - if only I could trust the other guy I timeshare this bed with.

    Re: the linked article: it's ridiculous how much debt people get into over here, and not just kids, but supposedly financially mature adults. For instance, the last guy who left my company owed *me* Dh8000 - even after deducting five years of gratuity!

    By Blogger marwan, at October 8, 2006 at 4:03 AM  

  • whats sad is that people are taking bank loans to pay rent...

    By Blogger moryarti, at October 9, 2006 at 2:05 AM  

  • Looks like a good time to be a repoman.

    By Blogger marwan, at October 9, 2006 at 5:47 AM  

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