Blog

Smart savings unleashed: Navigating your financial journey with Sav . Picture this: Your dreams are big, your goals even bigger, but your pay check? Not quite matching up. Fear not, for in this age of innovation, a savvy solution has emerged – Sav. It’s not just an app; it’s your financial BFF, here to help you save smart, live smart, and heck, even invest smart. Let’s dive into the world of “Smart Ways to Save with Sav” and unleash your financial superhero. 1. Budget Like a Boss: Bid farewell to those budgeting blues. Sav doesn’t judge; it helps you craft a saving plan that fits your lifestyle like your favorite pair of sneakers. With a few taps, you’ll know where your money is going, and more importantly, where you want it to go. 2. Round-Up Magic: Ever wondered where those spare dirhams vanish? Sav catches them! Connect your accounts, and every time you grab that triple-shot caramel macchiato, Sav rounds up the change and parks it safely in your savings. No pain, just gain. 3. Goal Setting, FTW: Dreams are the fuel of life, and Sav is your dream catcher. Set your goals – be it a Swiss trip or that vintage gaming console – and watch as Sav transforms your ambitions into a reality. It’s like having a personal savings genie at your fingertips. Goal based savings is your secret to make future dreams come true. 4. No-Touch Savings: We know, temptations are real. That sale on sneakers? Irresistible. But worry not, with Sav’s No-Touch Savings, you can lock away your savings for a specific goal. Your future self will thank you while rocking those fresh kicks. 5. High-Five for High Rewards: Gone are the days of shopping without gaining. Sav’s got your back with amazing rewards and cashback when you spend on your favourite brands. Sav actually gives your money a chance to grow – and by grow, we mean more than just that indoor plant you kind of forgot to water. 6. Learning Is Earning: Sav doesn’t stop at savings; it’s your financial guru. Dive into the ocean of financial literacy articles, videos, and tips. You’ll be slinging around terms like “sustainable affordability” at parties – the cool kind of party, goal based savings & smart rules to save money. So there you have it, your ultimate sidekick in the realm of smart savings – Sav. With its intuitive features and penchant for making your financial journey a breeze, you’ll be saving like a pro and living your best life. Remember, in the game of life, Sav is your cheat code to financial awesomeness. Time to level up! FAQs What is Sav App? Sav app will make you feel good about money with fun saving rules, and rewards for EVERY Dirham you save. We are ambitious, positive, and always focused on what matters most to people. How can I join Sav? You can start your savings journey with Sav by downloading our app – iOS or Android How does Sav help in saving money? Sav helps you to plan for your financially for your short term & long term savings goals. You can start your savings journey with Sav by planning, tracking & investing your money. For more, Download our app – iOS or Android. What is SNBL? SNBL stands for Save Now Buy Later, a concept that encourages sustainable spending.

Evolving savings trends and consumer behavior in MENA. In recent years, the MENA region, has undergone significant transformations in its saving patterns and consumer behavior. These trends are pivotal for individuals and businesses seeking to make well-informed financial decisions that lead to long-term financial freedom. Let’s delve into the comprehensive insights that are shaping the savings landscape in this dynamic region. Changing Saving Patterns: The UAE, known for its prosperous economy, has traditionally prioritized saving for future security. However, recent data from the UAE Central Bank shows a gradual shift toward a higher consumer expenditure rate. According to the UAE National Bureau of Statistics, there was a 7.6% increase in consumer spending in 2022, signalling evolving consumer preferences. Consumer Behavior and Technology: The rise of digitalization has significantly impacted the financial landscape in the UAE. The adoption of mobile banking apps has surged by 42% in the past year, according to UAE Fintech Association data. This suggests that residents are embracing technology-driven solutions for managing their finances, fostering greater transparency and accessibility. Budgeting, Investing, managing money & personal expenses have become an essential part of financial journey. Savings vs. Investment: While traditional savings accounts remain popular, an increasing number of UAE residents are exploring investment opportunities. The Dubai Financial Market recorded a 28% rise in retail investor accounts in 2022, indicating a growing appetite for investment instruments like stocks and exchange-traded funds. Long-Term Financial Freedom: Savings play a pivotal role in achieving long-term financial freedom. They serve as a foundation for supporting one’s desired lifestyle, fulfilling dreams, and providing a safety net for life’s unexpected emergencies. With careful planning and strategic & goal based saving, individuals can secure their financial futures, ensuring that they have the resources needed to navigate various life stages with confidence. Projections and Recommendations: The future of savings in the UAE appears promising as the government continues to diversify the economy. The UAE Vision 2021 aims to reduce the nation’s dependence on oil, with a focus on sectors like technology, tourism, and renewable energy. This economic diversification is projected to lead to sustained GDP growth, fostering a favorable environment for financial well-beingIn conclusion, the UAE is experiencing a transformative shift in savings behavior, accentuated by detailed data and statistics. The nuanced balance between traditional values of prudence and the adoption of modern financial tools underscores the region’s adaptability. As the UAE’s economy evolves, individuals and businesses alike are positioned to thrive by aligning their financial strategies with these insightful trends to grow, invest, save money, and embrace savings as a cornerstone of long-term financial freedom. FAQs What is Sav App? Sav app will make you feel good about money with fun saving rules, and rewards for EVERY Dirham you save. We are ambitious, positive, and always focused on what matters most to people. How can I join Sav? You can start your savings journey with Sav by downloading our app – iOS or Android How does Sav help in saving money? Sav helps you to plan for your financially for your short term & long term savings goals. You can start your savings journey with Sav by planning, tracking & investing your money. For more, Download our app – iOS or Android. What is SNBL? SNBL stands for Save Now Buy Later, a concept that encourages sustainable spending.

The youth debt dilemma: Navigating financial waters. In the fast-paced modern world, where opportunities abound, and desires are endless, young earners often find themselves entangled in a complex web of financial challenges. This intricate situation, commonly referred to as the “Youth Debt Dilemma,” is a narrative that resonates with countless individuals striving to strike a balance between aspirations and fiscal responsibility that makes money management & savings difficultA Tempting Landscape: The allure of the digital age, coupled with marketing ingenuity, often exposes young earners to an array of alluring products and experiences. From the latest gadgets to exotic vacations, the world beckons with promises of instant gratification. Caught in the whirlwind of these offerings, many young earners fall into the trap of accumulating debt as they endeavour to keep up with the trends.The Student Debt Conundrum: The pursuit of education, a noble endeavor, can sometimes become a double-edged sword. Student loans, while enabling the pursuit of dreams, can also cast a shadow of debt that looms over young professionals at the onset of their careers. This burden, often coupled with the pressure to establish themselves in the workforce, paints a challenging financial landscape. The Art of Delayed Gratification: In a world that champions immediacy, the concept of delayed gratification becomes a valuable lesson to master. Navigating the Youth Debt Dilemma requires embracing the idea that financial prudence today paves the way for a more secure and fulfilling tomorrow. This shift in mindset from “having it all now” to “building a sustainable future” can be transformative. Smart Rules to save money can help you in this journey. Financial Literacy, A Beacon of Hope: Empowerment lies in knowledge. Young earners armed with financial literacy are better equipped to steer through the labyrinth of debt. Governments and organizations are increasingly recognizing this need, offering workshops and resources to enhance financial acumen and decision-making skills. Sav: Illuminating the Path Forward: Amidst this intricate financial landscape, tools like Sav shine as guiding beacons for young earners. By instilling the principles of responsible & goal based saving, Sav empowers them to navigate the challenging waters of debt. Through its accessible platform and resources, Sav encourages a culture of mindful spending, goal-oriented savings, budgeting and long-term financial planning. Charting the Future Course: While the Youth Debt Dilemma presents a daunting challenge, it is not insurmountable. By cultivating a mindset of responsible spending, embracing financial education, seeking guidance from experienced mentors, and utilizing tools like Sav, young earners can make informed choices that lead to a healthier financial future. In conclusion, the Youth Debt Dilemma is a shared experience that binds generations in their pursuit of financial well-being. The journey to financial freedom & money management is not devoid of hurdles, but with patience, education, and a strategic approach supported by tools like Sav, young earners can break free from the debt cycle and embark on a path toward a prosperous and fulfilling life. FAQs What is Sav App? Sav app will make you feel good about money with fun saving rules, and rewards for EVERY Dirham you save. We are ambitious, positive, and always focused on what matters most to people. How can I join Sav? You can start your savings journey with Sav by downloading our app – iOS or Android How does Sav help in saving money? Sav helps you to plan for your financially for your short term & long term savings goals. You can start your savings journey with Sav by planning, tracking & investing your money. For more, Download our app – iOS or Android. What is SNBL? SNBL stands for Save Now Buy Later, a concept that encourages sustainable spending.

Save Money while Maintaining Your Lifestyle It’s no secret that it’s a lot easier to spend than it is to save money. Money Saving requires discipline to prioritize the future you in exchange for any instant gratification that you may get when making an impulse purchase. Plus, many of us rely on the mindset that we can always save money later down the road. Regardless of what we prefer in the moment, we know that saving is a smart financial move. Experts say that for each dirham that you have in a savings account, you’re decreasing the likelihood of missing a bill, forgoing medical care if something happened, skipping meals, etc. if you have an emergency. The challenge is that we often see saving money as sacrificing our happiness. But the good news is that there are ways to ease into saving while not forfeiting too much of everything else. Here are some tips to save money when you don’t want to make big sacrifices. 1. Save your windfalls If you don’t want to — or can’t — cut expenses, the next easiest thing is to save windfalls. Financial windfalls are basically extra money in your pocket: a tax refund, a bonus at work, a cash gift, an inheritance or even savings when you get a discount from coupons or cashback on your shopping. Because this is unexpected cash that essentially “fell into your lap,” you don’t have to give up anything to then turn around and put it into a savings account. While you may feel inclined to have the money go into your standard savings account with a bank, consider putting these windfalls of cash for goal-based savings on Sav. 2. Automate your savings It’s a fact that saving money is really easy if you make it automatic and timed with when you get paid. Sav can help with this. When you automate your savings, you eliminate the decision of whether or not to save, and you forget about what you may be sacrificing to set aside those funds. If you’re paid through direct deposit, you can set it up so a percentage of your paycheck is automatically moved to a goal you set on Sav. Freelancers or contractors with more inconsistent income streams can schedule a recurring deposit from their bank account to their savings at a time in the month when they normally have a surplus of cash flow. Following smart saving rules can help you manage money better. If you are nervous about getting started, set up an automatic transfer of just a little bit, like 1% from each deposit. This way, you know that it will always happen when you actually have money coming in. And then after a month or two, you can try increasing it to 2% or 3% and then keep doing that every couple of months until it feels like you’re saving what you can but still able to enjoy life.Once you set the automation rules on Sav and forget, over time your funds will grow and you will have become accustomed to living off of a budget that accounts for saving for your future — and you’ll eliminate the urge to think about what you’re giving up.. 3. Make saving fun So, Grandma always told you to save but you just thought it was boring? Think again! With Sav, you can enjoy gamified savings and earn extra rewards for achieving your milestones. You can scale a virtual Burj Khalifa as you proceed with your savings journey and we promise you it’s amazing at the top! Sav allows users to create rules that trigger a transfer of money to their savings. For example, you can set the Round Up rule so each time you spend, a certain amount of money is moved to a goal – your emergency fund, new phone or travel fund, whichever goal buckets you choose. Another way to look forward to saving is to earn Sav coins for your actions on the app. These coins can be used to unlock exclusive discounts offered by all your favorite brands. 4. Cut off regrettable expenses You know you should save but don’t know what expenses to cut first. These expenses may not seem obvious but, with careful consideration you’ll see how things like ATM fees, remittance fee, late payment charges on credit cards, etc. can be avoided.be avoided. World over, the second most common type of purchase that people regret is eating out. So we suggest creating rules for sustainable spending that limit how much you spend on dining out each week or month.For example, if you normally eat out four days per week, cut it down to just three days per week. If you usually find yourself having two drinks and dessert with dinner, make a rule for yourself that you only have water with meals out or no dessert in exchange for one drink. Bottom Line You don’t have to give up a lot of what makes you happy to start saving money. By saving your windfalls, automating your savings, making saving fun and cutting off expenses you might regret later, you’re already well on your way to setting aside a decent amount of cash. Plus, knowing you have savings on Sav to fall back on lets you feel like you indeed won’t have to make financial sacrifices in the future. Having a little financial cushion, even if it’s fairly small, can give you peace of mind and a little bit of slack, which will help you better focus on the parts of your life that make you happy and healthy FAQs What is Sav App? Sav app will make you feel good about money with fun saving rules, and rewards for EVERY Dirham you save. We are ambitious, positive, and always focused on what matters most to people. How can I join Sav? You can start your savings journey with Sav by downloading our app – iOS or Android How does Sav help in saving money? Sav helps you to plan for your financially for your …

Save without sacrifices: How to build your stash without giving up on your lifestyle Read More »

Embracing sustainable spending: The power of Save Now, Buy Later. In a world driven by consumerism and instant gratification, our elders’ advice to live within our means holds timeless wisdom. However, the constant temptation of attractive offers and credit-based products like BNPL, store-branded credit cards and installment payments, encourage impulsive buying that leads to buyer’s remorse and guilt.This blog explores the concept of “Save Now, Buy Later” (SNBL) as a path to sustainable spending. As people reevaluate their priorities and seek long-term fulfillment, SNBL offers a fresh perspective on mindful spending and goal-based saving. In this transformative journey, Sav is leveraging technology to reinvent the concept of saving, and create a rewarding experience that benefits both consumers and brands, thereby fostering a healthier consumption ecosystem. The Temptation of Impulse Buying We are all familiar with the allure of a mega sale, where the excitement of spending lavishly often overshadows rationality. The immediate thrill of purchasing unnecessary items is fleeting, quickly replaced by guilt and regret. Studies have revealed that 64% of people regret making impulse purchases during sales or limited-time offers, leading to underutilized products and wasted resources. The surge in impulse buying can be attributed to the availability of easy credit options, enticing consumers to make large-ticket purchases without immediate financial repercussions. This phenomenon is driven by the “Purchase Justification Machine,” a psychological mechanism that rationalizes our desire to buy, fuelled further by discounts, coupons & vouchers and pay later offers. The Rise of Revenge Spending and Its Demise The past year witnessed a surge in “revenge spending” as people sought to compensate for lost time and happiness during the pandemic. Entertainment, luxury products, travel, and service upgrades experienced a boom without thinking about money saving. However, as the initial fear subsided, the frenzy of revenge spending waned. This trend prompted individuals to reevaluate their spending habits and ponder their life priorities. An emerging movement towards sustainable spending has taken root, encouraging people to question their purchasing decisions and envision their ideal lifestyle in the long term via goal based savings. Savings trend in MENA is evolving. Embracing Sustainable Spending through SNBLThe concept of Save Now, Buy Later has emerged as a pivotal element in the shift towards sustainable spending. SNBL entails careful planning, saving, and mindful spending. It encourages individuals to adopt goal-based saving strategies, harking back to a time when saving up for high-value purchases was a common practice. By integrating this approach, consumers regain control over their financial decisions and align their expenditures with their values and aspirations. SNBL empowers individuals to break free from the cycle of impulsive buying, leading to greater satisfaction and fulfilment.Redefining Savings for the Future For decades, the traditional experience of saving with banks and institutions has remained unchanged, lacking innovation and excitement. Sav combines the security and liquidity of a traditional savings account with enticing rewards for goal-based saving. Through this novel approach, consumers can meticulously plan their purchases while enjoying increased value on their savings. Brands also benefit from this symbiotic relationship, engaging with more financially conscious and loyal customers. This approach can also help your money management journey. The Promise of a Healthy Consumption Ecosystem The SNBL revolution promises to create a sustainable and thriving consumption ecosystem. As individuals embrace mindful spending, they contribute to reducing wasteful consumption and making more informed choices. This shift is not only beneficial for the planet but also for personal financial well-being. With SNBL, the impulse buying culture can transform into a conscious and intentional purchasing approach. Brands that support this trend by offering SNBL options can establish stronger connections with their customers, fostering loyalty and trust. Conclusion In a world inundated with consumerism, the philosophy of living within our means has never been more relevant. Save Now, Buy Later emerges as a powerful concept to counter the allure of impulsive spending, offering a path to sustainable and fulfilling consumption. As individuals and households reevaluate their priorities and embrace goal-based saving, Sav is stepping up to redefine the savings experience, bridging the gap between financial security and gainful spending. With Save Now, Buy Later, we have the opportunity to foster a healthier consumption ecosystem that benefits both individuals and brands, driving positive change in our society and our lives. FAQs What is Sav App? Sav app will make you feel good about money with fun saving rules, and rewards for EVERY Dirham you save. We are ambitious, positive, and always focused on what matters most to people. How can I join Sav? You can start your savings journey with Sav by downloading our app – iOS or Android How does Sav help in saving money? Sav helps you to plan for your financially for your short term & long term savings goals. You can start your savings journey with Sav by planning, tracking & investing your money. For more, Download our app – iOS or Android. What is SNBL? SNBL stands for Save Now Buy Later, a concept that encourages sustainable spending.

Sip and Save: Brewing coffee and savings with a dash of Sav. Picture this: the sun’s rays gently peeking through your window, the aroma of freshly brewed coffee wafting through the air – a quintessential morning scene. But hold on a latte! Before you race to the café for your daily dose of caffeine, let’s chat about the age-old debate: buying vs. making coffee at home. Just like your coffee choices, your financial journey deserves the same thoughtful consideration. Struggling with the thought of how to manage money, Enter Sav – your coffee for savings! 1. Café Chic vs. Home Sweet Home: Buying coffee from a café has its charm. The barista’s friendly grin, the hum of social interactions – it’s like a mini social soiree that gives your day a zesty kick. But hey, sipping your homemade brew in your PJs? That’s a winning comfort zone only home can offer. If this is your dilemma too when it comes to managing money, then it’s worthwhile to leave the traditional behind and try a new smart money saving way with a savvy. 2. Kickstart with a Jolt: Café coffee isn’t just a drink; it’s an energy booster, your secret weapon against morning drowsiness. It’s like an invitation to embrace the day with open arms. Similarly, Sav kickstarts your savings journey – a financial boost to embark on your dreams with gusto. Just like new ways of making coffee enhances its taste similarly keeping up with savings trend keeps your money saving & management journey flavourful. 3. The Price Tag Tango: Let’s crunch the numbers: café coffee might be your cup of happiness, but those daily sips add up quicker than you can say “extra shot.” Making coffee at home? Well, that’s like creating your personal savings haven. Those saved bucks? Hello, dream fund! 4. Coffee Date vs. Money Mate: Café visits are splendid coffee dates, but what about your money? It deserves a date night too – one that involves growing and multiplying. Enter Sav, your trusty money mate, here to ensure your financial rendezvous is as fruitful as your caffeine-infused catch-ups. Sav allows you to create budget & enhance your savings while enjoying your favourite coffee. 5. Sav: Your Financial French Press: Just as that French press brews your coffee to perfection, Sav brews your savings & money management journey like a mastermind. Setting goals? Check. Round-ups? Check. High-yield savings? Double-check. Just as a barista crafts your cup with care, Sav crafts your savings strategy & helps you save money with precision. 6. Crafting the Perfect Blend: Much like you customize your café order, Sav lets you customize your financial plans. Dream vacation? Retirement goals? Sav’s got your back, tailoring your savings just like your latte – exactly how you like it. With Sav you can optimize your money management strategy just like you can customize your coffee for the best taste. In a world that swirls with choices, whether it’s the café counter or your financial compass, both deserve mindful consideration. So, here’s the deal: while your café splurges give you social energy, your Sav-powered savings give you the financial energy to conquer your goals. Brew that coffee, embrace that savings – and remember, whether you’re at the café or in your financial journey, it’s all about savoringly the experience, one cup at a time FAQs What is Sav App? Sav app will make you feel good about money with fun saving rules, and rewards for EVERY Dirham you save. We are ambitious, positive, and always focused on what matters most to people. How can I join Sav? You can start your savings journey with Sav by downloading our app – iOS or Android How does Sav help in saving money? Sav helps you to plan for your financially for your short term & long term savings goals. You can start your savings journey with Sav by planning, tracking & investing your money. For more, Download our app – iOS or Android.

5 Things to do to stop stressing about money. “Where’s my money going?” Arushi Agarwal, 26, a professional in Dubai, asks herself every month. As do thousands of young earners in the city who enjoy high salaries but are still barely scraping by. “The more your money works for you, the less you have to work for money .”- Idowu KoyenikanBeing financially stable can be a daunting task for a young person or household burdened by stressors like student loan debt, rising inflation, and a demanding housing market in both renting and buying sectors. Additionally, the temptations of the ‘Dubai-life’ leave many in debt and without any savings to advance themselves — or even to just get by. It almost feels like a quarter-life crisis. This is why it becomes important to find answer for how to save money?“Sometimes, it is not the money in your bank account that solves your problem, but the wisdom in your head” – Michael Bassey JohnsonHowever, there are practical and insightful ways to liberate yourself from this burden and free yourself of money-stress once and for all:1. Face the Numbers: Begin by confronting your financial reality. Gather all your financial data and analyze it honestly. Understanding your income, expenses, and debt is the crucial first step towards crafting a strategic plan. 2. Set Realistic Goals: Determine what financial freedom means to you. Establish clear, achievable goals and create a roadmap to get there. Visualizing your aspirations will motivate you to make positive changes.3. Embrace Budgeting: Think of budgeting as your financial compass. Create a detailed budget that accounts for essentials, savings, and discretionary spending. Budgeting as a tool will not only help you track your progress but also enable you to make informed choices.4. Build an Emergency Fund: Life is unpredictable, and emergencies happen. Establishing an emergency fund equivalent to three to six months’ worth of living expenses will shield you from unforeseen setbacks.5. Mindful Spending: Reflect on your spending habits and differentiate between wants and needs. Practicing mindful spending ensures that every purchase aligns with your values and long-term goals. Sustainable spending can help you save money6. Educate and Empower: Expand your financial knowledge through books, podcasts, or workshops to save smartly. Empower yourself with valuable insights on investments, taxes, and money management.By following these strategies, you can embrace a newfound sense of control over your financial destiny. Embrace the savings journey, stay committed to your goals, and remember that financial freedom is possible if you start now. Let the stress melt away as you embark on a path of financial empowerment. FAQs What is Sav App?Sav app will make you feel good about money with fun saving rules, and rewards for EVERY Dirham you save. We are ambitious, positive, and always focused on what matters most to people. How can I join Sav?You can start your savings journey with Sav by downloading our app – iOS or Android. How does Sav help in saving money?Sav helps you to plan for your financially for your short term & long term savings goals. You can start your savings journey with Sav by planning, tracking & investing your money. For more, Download our app – iOS or Android.