DUBAI // Ahmed, 32, is a relationship manager. The Egyptian has been in the UAE 25 years and knows only too well the pitfalls of poor money management and the compounded stress of social media. After starting his own business, which did not go to plan, he lived on credit cards and personal loans, accruing what is now a total debt of Dh1.6m since 2009.
“I would say it was bad planning from my side plus the instability and the insecurity of a job in Dubai,” he said.
“You can be jobless any day with no prior warning and without enough back-up cash and finding a new job can take years to get back on your feet.”
He said life is that bit tougher with the additional pressures of social media.
“Social media definitely affects things and can affect your lifestyle,” he said. “For example, when suddenly you find all your friends having photos of skydiving or European trips or cruising on a yacht somewhere, this makes you feel like it should be me as well, even if your budget doesn’t allow it.
“You start to think of using the credit card and somehow will be able to pay that later. Then when you face the reality that you can’t pay these debts later, it’s too late already.”
He said the experience has taught him a lot. “My main advice to everyone is to stop comparing your life to others. Make your own happiness according to your own budget because happiness does not depend on money, really.”
mswan@thenational.ae
