UAE residents reveal top financial goals for 2020

iStock

Providing monetary support to families is the top financial goal this year for half of working residents in the UAE.

That’s according to a survey by YouGov, which found that this goal is more important to people above 25 years of age.

Over a third of respondents said they would save for retirement, while another third have set a target to feel financially secure this year.

People aged above 45 years are more likely to choose saving for retirement as a goal, while for young adults, "starting a business" and "buying a home" rank higher in priority.

When trying to save money, three in five plan to cut down on impulsive shopping, while half sacrifice eating out or ordering in, and for 44 per cent entertainment activities take a backseat.

The study also found that even though people are taking steps to be financially safe, just over half (52 per cent) feel confident about their financial planning for retirement. 

Emiratis are apparently much more confident about retirement when compared to other nationality groups in the country (with 74 per cent saying this).

The online survey polled 813 respondents between February 24 and March 2.

More from Business

Coming Up on Dubai Eye

  • The Weekend Playlist

    8:00pm - 11:00pm

    Every Friday night Dubai Eye 103.8 plays you the greatest party classics and anthems all the way till Saturday morning!

  • Nights on Dubai Eye 103.8

    11:00pm - 7:00am

    Dubai Eye complements the conversation with the music you love from the eighties, nineties and newer.

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Meet Gift, female food delivery driver

    Gift came here from Nigeria and failed to find a job, until a pizza company offered her one. She's now one of the very few female delivery drivers in the UAE.

  • FARMER'S KITCHEN

    Farmer's Kitchen is back for 2021!
    With our partners Spinneys, we are going to help you wave goodbye to boring dinners, cluttered fridges, and lumpy leftovers!