Those struggling with loans, credit card balances or car instalments should start by taking a full look at what they owe, rather than taking on more debt to cover existing commitments, UAE financial experts have advised.
The advice follows a warning from Sharjah Ruler Sheikh Dr Sultan bin Muhammad Al Qasimi, who recently urged young people not to take on cars and other financial commitments they cannot afford.
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“Don’t burden yourself with a car you cannot afford and get caught up in instalments, debts and other financial commitments,” Sheikh Dr Sultan said during a direct-line programme, urging young people to move away from such “bragging” and “come back down…