In the UAE’s ever-changing economic landscape, <a href="https://www.thenationalnews.com/business/money/2022/12/02/how-to-set-financial-limits-for-travelling-home-for-the-holidays/" target="_blank">saving for a holiday</a> can be both a challenge and a unique opportunity. Renowned globally for its shopping festivals and year-round deals, the country offers a luxurious lifestyle. As a result, people often <a href="https://www.thenationalnews.com/business/money/2023/12/01/five-steps-to-stop-overspending-during-the-holidays/" target="_blank">find themselves splurging</a> on the latest gadgets and experiences. This, coupled with the rising cost of living globally, makes <a href="https://www.thenationalnews.com/weekend/2023/06/09/what-are-the-best-ways-to-save-for-your-summer-holiday/" target="_blank">saving for a dream holiday</a> particularly challenging. While there is some relief with zero tax on personal income, having a <a href="https://www.thenationalnews.com/business/money/2021/08/24/how-to-avoid-racking-up-holiday-debt/" target="_blank">tailored saving strategy</a> that balances immediate expenses with future adventures is a must for anyone creating<a href="https://www.thenationalnews.com/business/money/how-to-plan-a-debt-free-holiday-1.765234" target="_blank"> a holiday fund</a>. It is crucial to understand the broader economic environment, make informed choices when it comes to what we are spending on, and make regular saving a habit. <b>High living expenses: </b>It is easy to get caught up in the UAE's sparkle and glamour, but it comes at a cost – a high standard of living. Rents, education fees and a penchant for luxury can divert funds from your holiday savings, particularly for those focused on keeping up appearances. <b>Financial literacy: </b>Poor financial management can deprive people of the opportunity to save money. Many do not know of or understand tools and strategies that can enable them to allocate funds for future holidays without diminishing their present quality of life. My goal has always been to simplify money management, making it accessible for everyone irrespective of their backgrounds or financial literacy. Our lives are a tapestry of experiences and holidays stand out as some of the most vibrant threads. They provide a much-needed form of escape from the mundane, a chance to explore, relax and create lasting memories with your loved ones. Ensuring that financial difficulties do not stand in the way of these experiences is very important. Saving for a holiday embodies the full essence of better money management: setting a goal, planning towards it and watching it come to fruition. The journey teaches discipline and patience. It also reminds us that with the right tools and strategies, our loftiest dreams are within reach. Much like the journey itself, the path to saving for your dream holiday is rife with discoveries, challenges and, ultimately, rewards. By embracing smart saving strategies, using technology and celebrating each milestone, you will be able to turn what was once a daunting task into an empowering journey. So, here's to making all our holiday dreams come true, one smart saving step at a time. <i>Mithil Ajmera is co-founder and chief operating officer of Sav</i>