📝 Your money in a conflict: the calm, practical checklist
- 3 hours ago
- 4 min read
The immediate shock of last week is passing. The situation hasn't resolved, and we know many of you are still dealing with the fallout in one way or another.
That in-between state, not full-on crisis but not normal, is actually when financial mistakes tend to happen. Not because anything has gone catastrophically wrong. Because people are distracted, anxious, and thinking about too many things.
Read on to find out:
What the oil price surge means for your wallet in April
Why now isn't the moment for a big property decision
Whether your financial safety net is actually ready
Why your scam radar needs to stay switched on
How will global oil prices impact your wallet.
Global oil prices have risen more than 25% since the conflict began. You haven't felt the full impact at the pump yet, but unless the situation improves, petrol prices will likely go up next month.
The March prices were set by the UAE Fuel Price Committee before the conflict escalated. The April announcement, due on 31 March, will be the first to reflect current oil market conditions - although likely with some focus on consumer protection (and therefore a lesser impact).
The downstream impact matters too. Fuel costs feed into global logistics, deliveries, and supply chains. All of these could eventually impact the cost of groceries and everyday goods that you're buying so it's best to at least plan for higher levels of inflation in the future.
💵 What to do: Nothing dramatic. Just factor a higher fuel bill into April's budget. If you track your monthly spending, update the estimate now rather than be surprised.
Property: don't let a headline make a five-year decision
The past two weeks have generated a lot of alarming property coverage. Analysts warning of demand shocks. Commentators raising the spectre of a market correction. Stories of people rushing to exit commitments.
Some of that is worth reading. Most of it is worth setting aside.
Dubai's property market has been through genuine crises before. Prices fell around 50% during the 2008 financial crash and took years to recover. A further correction followed between 2014 and 2019. COVID caused a sharp but brief disruption. Each time, the market recovered, and each time, the people who made reactive decisions at the bottom of the panic cycle paid for it.
This conflict is serious. The long-term picture depends on how it develops. But that uncertainty is exactly the wrong environment for a major financial decision.
🚩 If you were planning a property move before all of this, there's no need to abandon the plan. Revisit it with a clear head when things settle.
🚩 If you're suddenly reconsidering something because of the headlines, wait. The decisions that feel most urgent in a volatile moment are usually the ones worth sleeping on the longest.
Is your financial safety net actually ready?
The conflict has made a useful question worth asking: if you needed your money tomorrow, could you reach it?
A genuine safety net has three qualities:
It's liquid. You can get to it within one or two business days. If your savings are in a fixed-term deposit, a notice account, or invested in anything that requires selling, they don't fully count. They are savings. That's different.
It's separate. It lives in a different account from your everyday spending, so it doesn't quietly get absorbed into daily life.
It covers several months of core "Needs" expenses. Not your full lifestyle budget - just rent, food, utilities, transport. That's the number that matters in a pinch.
If your savings are tied up in a fixed-term deposit, a notice account, or invested in anything that requires selling, they don't fully count as a safety net. A standard savings account at one of the UAE's better-paying banks, on the other hand, keeps your money reachable and still earns a reasonable return.
Our savings article from earlier this year covers the best accounts for your emergency fund.
💵 The check: Open your banking app(s). Find your most accessible savings balance. Could you move it to your current account today if you had to? If the answer is no, or not easily, that's worth fixing.
Keep your scam radar switched on
Scammers are not taking time off. If anything, the opposite is true.
Phishing attacks across the Middle East jumped sharply after the conflict escalated, on top of a 35% rise in fraudulent messages that was already being reported before it started. Distracted, anxious people are the easiest targets. That's not a judgement. It's how scammers think.
The "Dubai Crisis Management" and "Airline refund" scams we flagged in our 4 March article are still circulating. Fraudsters are calling and messaging UAE residents, claiming to be from official bodies and asking for UAE Pass credentials or Emirates ID details. No authority operates this way. Not under any circumstances.
Three things worth keeping front of mind:
No government body, bank, or official department will ever call you asking for an OTP, UAE Pass login, or Emirates ID details. Full stop.
If a call or message creates urgency, that is the red flag. Hang up. Contact the organisation yourself using its published number.
If you're not sure whether something is legitimate, it almost certainly isn't. Verify first. Act second.
For the full scam playbook, including what to do if you've already been targeted, our Money Safety Playbook has everything you need.
Disclaimer: Please bear in mind that this article does not constitute financial advice. Any choices you make you are solely responsible for. We always aim to provide highest quality, independent views but do your own research to ensure you're comfortable with any changes you make to your personal finances.
