Last month, I spent several weeks researching and writing this story for Doha News about the financial advice industry in Qatar, and the bad experiences some investors have had with advisers in the region, both regulated and unregulated. It sparked a lot of interest, with many people sharing their experiences – both good and bad – in the comments section below.
I recently wrote a two-part series of articles for The Telegraph giving advice to expats about how to save money in Qatar, a country which is becoming an increasingly expensive to live in.
I offer lots of suggestions to keep spending in check, including:
- Making use of all available discounts when eating out by seeking discount clubs, books and websites – like Qgrabs, The Entertainer and Voucher Clubs;
- Timing big purchases like a second-hand car for the end of an academic year, when many expats leave Qatar for good;
- Being wary of reductions in the value of car insurance coverage as your car ages – this can make buying an old car a false economy in the event of an accident;
- Taking a trip to the seasonal farmers’ markets with friends to save money by buying produce in bulk, then splitting it up;
- Making full use of the second-hand market in Qatar, which is always busy due to the high turnover of expats here. Online groups like Buy It, Sell It, Swap It, Qatar on Facebook, classifieds on Qatar Living and garage sales are sources of many gently or barely used items;
- Planning to buy expensive items like clothing, children’s shoes and specialty foods while traveling outside of Qatar, to save on costs (depending of course on baggage allowance)
Credit: Photo by Patrick Gage / Flickr