People often tend to go overboard spending beyond their means during Eid Al Fitr celebrations and later struggle with buyers remorse. This could spell trouble for many households who are struggling amid the global cost-of-living crisis.
It is important to avoid racking up holiday debt, particularly when interest rates are rising, financial experts warn.
It is important to place a tight lid on unnecessary expenses, giving way to unbridled debt, says Ullas Rao, assistant professor of finance at Heriot-Watt University Dubai.
Most significantly, ensuring adequate cash to meet emergency expenses should be the cardinal principle.
The most common costs associated with Eid celebrations include entertainment, purchasing gifts for friends and fam…
Read the full article at: https://www.thenationalnews.com/weekend/2023/04/07/how-planning-ahead-can-help-you-avoid-eid-holiday-debt/