How To Deal With Debt

What this episode covers

Debt in the UAE can sneak up on you fast, especially when banks are calling you before you even have your Emirates ID. In this episode of No One Told Me, we break down how easy it is to fall into the debt trap in the GCC: from credit cards with limits six times your salary, to personal loans that spiral out of control before you even notice. We get into how compound interest actually works, why paying the minimum is quietly destroying your finances, and what to do if you find yourself deep in the hole.  We also share real stories, including a friend who ended up 200,000 dirhams in debt and how he got out of it and talk about the smart side of debt too, and how to actually use credit cards to your advantage. Whether you're new to Dubai, already in debt, or just want to make sure you never get there, this episode gives you the full picture on one of the most misunderstood topics for expats in the GCC! 00:00 The debt trap in Dubai — cold open  00:21 Intro — No One Told Me about debt  00:59 Why is everyone in some kind of debt?  01:23 How easy it is to get credit in the UAE  02:49 The riskiest types of debt  03:50 The credit card snowball effect  04:19 The 6x salary credit card limit story  05:17 How credit card interest actually works  06:18 Compound interest — a real calculation  07:11 Hadi's friend — 200,000 dirhams in debt  09:47 Your UAE credit score & the Etihad Bureau app  10:40 Paying the minimum — why it's a trap

PodParley-generated summary based on available episode metadata and transcript content.