Posted on: 31-01-2016 in FinanceNo matter what went wrong for you financially last year, the new year is an opportunity to turn everything around and start fresh. If you are a millennial expat in Dubai, this article offers the best tips to finally get your financial house in order! 1. Leverage Your Age – Your youth is the biggest asset you have and time is to your advantage. Start saving from the first paycheck, pay off your debts in order and seek financial assistance from Holborn Assets Financial Advisers for professional guidance. 2. Rainy Day Fund –Surprises are everywhere, especially when you are an expatriate. Build the all-important emergency fund to cover 3-6 months of living expenses. Speak to your bank to automatically deduct cash from your account to grow this fund. 3. A Handle on Credit – Known to be one of the most effective means to build a credit history and enjoy amazing rewards, it is also dangerous to have too many. Therefore, do not accumulate too many credit cards or debts – simply don’t buy more than you can afford. 4. Diversify – As you are young and beginning to test the waters with different investment vehicles, try and diversify your investments. This will help you to avoid putting all your eggs in one basket. Investment options may include health cover, a pension pot, certificate of deposit, an emergency fund, cash accounts, stocks, bonds and so on. 5. Never Too Old – It is never too late to start building a pension fund. The sooner you start, the financially better you will become! Enjoy the fruits of your savings when you reach your 50s and 60s for a peaceful retirement. 6. Set A Budget – This is the most needed tool to help you prioritise your spending and earnings, especially for debt payments, rent and mortgages, utility bills, groceries, gym memberships, wine and dine, cable TV and the list goes on. 7. Create A Financial Plan – Consult a professional Financial Adviser from Holborn Assets who is financial-savvy to tailor their guidance to your age, lifestyle and budget. Put together a financial plan to set goals and track your cash flow for financial clarity. Investing while you are young can put you in a good financial situation. Saving money isn’t about living without the comforts you love. It is simply to be smart about your expenses and keeping up with your finances. You’ll thank yourself later! Happy Savings for 2016!