A licensed financial institution regulated by the Central Bank of the UAE

Al Ahli Bank of Kuwait - UAE Branches

Personal Banking Corporate Banking Treasury Trade Finance Financials & Pillar III Disclosures Help & Support Contact Us Careers

Consumer Awareness IBAN Validator Fees & Commissions Key Facts Statements Complaints Terms & Conditions FAQ Debt Management

Tools and Tips

Change in circumstance can affect your financial planning and ability to repay your dues on time.In case you are facing difficulty in meeting your repayment obligations, please reach out to us at:

debtmanagementuae@abkuwait.com

Or call us at +9714 6075555 ext. 697

Alternatively, you can visit our Dubai branch opposite Hamarain Centre, Abu Baker Siddiqui Road, Deira, Dubai – UAE. We are here to assist you to discuss and provide tailor-made solutions that will help you manage your debt settlement. Kindly ensure to act as soon as possible as missed payments, bounced cheques, and having too many credit cards and loans will affect your credit score with Al Etihad Credit Bureau (AECB), which in turn will affect your creditworthiness

Avoid Getting Into Debt

No one deliberately gets into debt – it happens without notice or sometimes due to poor expenditure patterns, or sometimes due to unexpected situation out of our control. Try following these strategies to avoid falling into the hole of debt:

Use an app or maintain a financial excel sheet to track down your income and expenses
Prioritize your needs, not your wants
Everything is better within the budget
Limit the number of credit cards you have. If you can't afford an item or service without a credit card, don't buy it. Avoid cash advances on your credit card
Keep emergency funds as a back-up plan

Manage Your Finances

Maintaining a balanced budget is a rewarding practice that will help you live a healthy financial lifestyle. Follow the 50-30-20 rule. Spend 50% of your income on your needs, 30% on your wants and save 20%.

Use an app or maintain an Excel sheet to track your cash inflow (salary/other income). List down all your expenses, such as rent, loan repayments, groceries, utility bills, fees, entertainment, life style expenses, etc. Once you have listed down all your expenses, categorize them in to fixed and variable expenses to know where you can make adjustments and increase your savings.

This helps you:

Identify things you need vs. things you want
Pinpoint purchases that can be delayed for a future date
Analyze your short and long-terms goals and cut back on irrelevant expenditures

This calculator can help you see your spending habits and improve your saving goals.

Follow the 50-30-20 rule. Spend 50% of your income on your needs, 30% on your wants, and save 20%.

Discipline yourself to adhere to the 20% saving goal. From there, managing the rest becomes easy.

Monthly Income*

{( error )}

Rent*

{( error )}

Household maintenance*

{( error )}

Transportation*

{( error )}

Food*

{( error )}

Health & dependent care*

{( error )}

Minimum payment for debt(s)*

{( error )}

Personal & family care*

{( error )}

Leisure activities*

{( error )}

Other expenses *

{( error )}

Savings*

{( error )}

Debt repayment excluding the minimum payment*

{( error )}

Al Ahli Bank of Kuwait - UAE Branches

Tools and Tips

Avoid Getting Into Debt

Manage Your Finances

What is Debt-Burden Ratio (DBR)?