Oops…They did it again! The Boom burns a hole in your pocket…

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If you somehow missed out, you are now caught in a boom time once again!

Your rent is going up, although a few apartments in your building are still empty. Your landlord says he has found a buyer for his property who needs your home vacated, because he plans to move in…right away! Ninety days notices are not in fashion nowadays, because for three months the difference between the old rent and the new rent may be quite significant. Or your landlord says he needs to move into his property, because of some extreme family situation. In both cases you don’t have to accommodate others’ problems and change homes on your expense…

The maids’ service has introduced a new service fee and now charges 40 Dirhams per hour instead of the 30 Dirhams, which you were accustomed to pay before the summer holiday.

If you have kids in school, you should have noticed that the uniform T-shirt cost 70 Dirhams this academic year, although it is the same as the last year when it was 60 Dirhams. This is also valid for the school pants and sports uniforms.

At the Union Cooperative Society, where you can usually find the lowest prices for groceries, you may notice some slight price increases. Biscuits for which we have been paying 4 Dirhams as long as forever, now cost 6.50 Dirhams.

Every day, you read in the newspapers about the recovering economy and a numerous new property projects to be launched or relaunched by the usual suspects – the large property developers. They are rich, regardless on cash or credit, and they have big advertising budgets to hire not just one, but a few PR agencies.

Meanwhile, your bank account statement becomes the most dreadful paper to see. The available credit looks a very small number and you can’t help yourself but wonder where did your salary go. When you got hired, the amount looked pretty handsome and very much promising. Nowadays, some folks say it is not worth to work in Dubai any longer, because you have to spend more than you earn.

So, think about a solution!

Ask your boss for a salary increase, if you can, and if such practice is at all introduced at your work place. You can explain that now it is the boom time again and all prices are on the rise. You can also justify such statements with the newspapers. After all, in Dubai you can’t save by becoming vegetarian, because fruits and vegetables are more expensive than meat. Walking to work is a dream option that is very hard to find.

Another solution to combat the new boom increased cost of living could be to take an extra job. Maybe you can find some freelance opportunity that pays per hour, or for tasks you can do during the weekend. If you are still young, you may try to work 24/7 for a while. Perhaps you can write articles for someone after you put the kids to sleep at night. Or you may help in a busy store during the weekends. The Dubai Mall is always busy and packed with eager-to-spend consumers.

The boom time is now! Some say that we are just in the beginning of it, while others feel it is near its end. However, you would be better on watching your cash and not gambling your future salaries for off-plan investments that will or will not materialize during the next few decades.

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