Dubai: Those lucky enough to receive a company bonus may get excited at the prospect of a bumper pay packet during the “bonus season” in March and April, but the reality is that the majority of people in the UAE are using this extra cash to settle debt or pay bills.
According to a survey for Zurich International Life by YouGov, 71 per cent of UAE residents will receive a company bonus during 2015. However, for 39 per cent of bonus recipients, the primary use of their payment will be to settle debt, with a further 16 per cent using the bonus to pay bills, such as rent or school fees.
Another 13 per cent of respondents said they will leave their bonus in the bank, 11 per cent will invest in property and 10 per cent will invest in a savings scheme, while only seven per cent will spend the majority of their bonus.
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