Many people in the United Arab Emirates begin a new month determined to save more money than they spend, but this can often be easier said than done.

The number of credit cards available in the UAE can only make this resolve even harder to maintain due to how convenient and easy they make spending money.

However, a bigger downside to credit cards is that they can actually make people spend a lot more money than they were intending to in a particular time period.

Overspending can occur for a number of reasons, including a lack of awareness in regard to spending habits or an incorrect estimation of expenses, spending, debt payments and income.

The good news is that it is possible to take charge of your finances and ensure that your UAE bank balance does not reach dangerously low levels.

There are a number of tips that you can follow to ensure that your next UAE credit card statement will not leave you wondering how you could overspend so much.

One of the most important things you can do is work out what makes you overspend in the first place.

If you can spot the emotional and mental triggers that cause you to overspend, then you will be able to keep that temptation in check and resist opportunities to do so.

Even buying smaller, less expensive items can accumulate into a lot of money being spent by the end of the month.

For example, eating lunch out or having a morning coffee can end up costing you more than you realise.

This can cause severe buyer’s remorse in addition to financial problems.

Tracking how much you spend in a month is vitally important in order to create a successful budget.

It also allows you to hold yourself accountable for every dirham you spend.

A greater awareness of how you are spending your money will help you to make smarter choices in regard to that spending.

Credit cards tend to be much more convenient than physical cash when making a purchase.

That convenience, however, is one of the main reasons why many people end up overspending so much.

People often use their credit card while being unaware of the total of how much they have spent in a particular month.

When heading out to the shops with the aim of making specific purchases, it is a good idea to only carry the amount of money you will need.

There is no need to take a credit card unless you intend to use it for a specific purchase that you are already certain you can afford.

Another good way to take charge of your spending habits is to set a financial objective that is attainable within a short period of time.

These goals will be a continual reminder of why you need to avoid overspending and that some sacrifices have to be made to achieve them.

Preventing overspending can be difficult, but it need not be impossible if you put in the time and effort required to change your spending habits.

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