We're here to support you every step of the way. Our team of experts is ready to assist you with any questions or concerns related to money management and debt counselling.
Contact us today to learn more about how we can help you manage your finances and build a brighter future.
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Our team of financial experts is available Mondays to Thursdays, 8:30 AM to 5:00 PM, and Fridays, 9:00 AM to 3:00 PM
To achieve freedom from financial burdens, managing debts smartly and following a strategic repayment plan will guide you to a smoother path to financial stability.
Embarking on the journey to reduce debt is both empowering and liberating. Feeling overwhelmed is normal, but help is available with our Money Assist team. They will offer you personalised advice and help you craft a debt repayment plan that aligns with your financial goals.
Achieving financial proficiency is an essential step towards a secure and prosperous future. We are committed to empowering you with the knowledge and tools needed to navigate your financial journey confidently.
Remember, persistence and discipline are your allies that will get you closer to your financial goals. With a solid plan and a commitment to follow through, the path to financial independence is within your reach.
Budget planning is not just about restricting spending; it is the cornerstone for sound financial health—a powerful tool that helps you live within your means, save for the future, and achieve your financial goals.
Here's how to master the art of budget planning and pave the way for a prosperous financial future.
Budget planning is vital to achieving financial wellbeing while unlocking your potential for a secure future. Master your budget with these simple steps:
By adopting a proactive approach to budgeting, you can manage your finances effectively, reduce financial stress and build the future you envision.
Please ensure you read and fully understand all terms and conditions before taking on any debt or agreeing to act as a guarantor for third-party debt.
Debts with high-interest rates should be your top priority, as they cost you the most over time. Paying these off first can reduce your interest, making funds available for other debts.
If you have multiple high-interest debts, consolidating them into a single loan with a lower interest rate can simplify payments and reduce the amount you pay in interest, helping you to pay off your debt faster.
To avoid impulsive purchases, consider lowering your credit card limits. This can help you keep spending in check, encouraging more mindful use of credit. Apart from maintaining a lower utilisation rate with fewer balances, you now contribute positively to your credit score.
This proactive measure can protect you from accumulating debt that might later become unmanageable, contributing to a healthier financial lifestyle.
If you're feeling overwhelmed by debt, consider seeking assistance from our Money Assist team. They will create tailor-made solutions based on your financial situation.
Real estate in the UAE is dynamic and mature, so it is crucial to manage your rental expenses for financial stability and growth. Whether you're a new resident or a long-term expatriate, here are some effective ways to help you reduce rental expenses.
To manage your finances effectively, it's crucial to rethink your expenses regularly. By being mindful of your payables, you can make informed decisions and achieve better financial stability.
In today’s digital era, accumulating recurring charges from various subscriptions (streaming services, fitness apps, etc.) is easy. It’s a healthy practice to periodically assess and streamline these recurring expenses, as unused subscriptions may drain your budget before you notice it.
For you to cut back on these expenses and reclaim control over your finances, follow the straightforward plan:
By regularly evaluating your subscription habits, you can avoid unnecessary expenses and focus your resources on what truly enhances your life.
Embarking on an investment journey is a pivotal step towards securing your financial future. Investing is not just about growing your wealth; it's about ensuring you beat inflation, financial security, and achieving your long-term goals. Here's a brief guide to getting you started with an investment strategy that aligns with your aspirations and risk tolerance.
Investing helps you put your money to work, potentially generating higher returns compared to traditional savings accounts. The power of compounding can significantly increase your wealth over time, helping you keep pace with inflation while funding your future dreams, whether it’s buying a home, securing your retirement or ensuring your family’s wellbeing.
Start your Investment strategy by complying with the below steps:
Investing is a crucial element of financial planning, offering a pathway to financial freedom and realising your dreams. In the dynamic landscape of the UAE, starting your investment journey with a thoughtful strategy can lead to a prosperous future. Our bank is here to support you with expert advice and investment solutions tailored to your unique needs.
We have a team that can assist you and look at your options if you're struggling to repay your debts.
If you're a RAKBANK customer and you've missed a loan or credit card payment or anticipate missing one, feel free to call us at 600 544049 to get a helping hand.