While I’m sorting out my life I’ll be featuring some guest posts. The following is a guest post.

In common with many Middle Eastern countries, 2012 was a tough year for Jordan. This year could be equally as difficult, affected in part by the civil war raging in neighbouring Syria, fuel and food price rises, and simmering tensions following elections earlier this year.

But there’s room for optimism, too, with dire predictions towards the end of last year of major unrest following a cut in fuel subsidies, which led to some of the increased prices, failing to spark any major country-wide protests.

It’s a positive outcome for Jordan’s expatriates as they try hard to earn a living and enjoy spending just a little of their hard-earned wages. Many of them will no doubt be doing the sensible thing, piling a little of the monthly salary into high interest savings accounts with HSBC or some other big bank in order to maximise their income. It’s always a wise move to put away as much as you can for some future rainy day, especially with many countries in the Middle East experiencing the chill winds of change and uncertainty as political opposition threatens to grow.

Foreign investors are well aware of the situation and of course react by reducing investment levels and adopting a wait-and-see approach as events continue to unfold. Despite recent negativity, however, the omens appear to be looking good at the moment with the IMF expecting Jordan’s growth to have reached 3% by the end of 2012, increasing to 3.5% during 2013, and then rising to 4.5% by 2017. Of course, a lot can happen between now and then which can easily mean predictions will have to be completely revised. There are so many imponderables. Only time will tell.

Given the difficulties under which the economy has laboured during 2012, a 3% rise in GDP should be considered an excellent result, says the Oxford Business Group (OBG), a global leader in business intelligence.

According to the OBG report, Jordan: Year in Review 2012, inflation in 2013 could rise as the impact of higher fuel costs kick in. In mid-November, the government cut subsidies on fuel, an IMF-mandated measure to allow Jordan to qualify for assistance worth $2 billion.

The step was also taken to help narrow the expected budget deficit, which Prime Minister Abdullah Ensour said could potentially expand to $5 billion by the end of 2013. However, in late November the budgetary shortfall was estimated at around $3 billion, equivalent to 11% of GDP – still far above the projected $1.7 billion.

The report adds, “The cost of subsidies rose sharply during the year after gas supplies from Egypt were disrupted because of sabotage to the pipeline linking the two countries. The severing of one of Jordan’s main energy supply routes necessitated a search for alternative sources. The supply cut also led the Kingdom to purchase oil, which is more expensive than gas, thus pushing up costs.

“The announcement of the cut in subsidies sparked a series of protests, as had proposals to end price support earlier in 2012. The government has acknowledged the cut will cause hardships for some, and as a result, is introducing an assistance package that will provide direct payments to low-income earners.” The full report is well worth reading. So check it out here.

{ 0 comments }

Earn $50 right now:


Click here to start saving with ING DIRECT!

Impulse Spending

by Fig on May 2, 2013

Having my husband leave me has left me feeling awful, of course. I’ve truly never felt so bad in my life.  There is a huge urge inside of me to try to make it all better.

Since I can’t, I’m left with coping options. Unfortunately one of those is SHOPPING.

They call it retail therapy for a reason, right? Though I’m generally a frugal person I have been spending more in the last couple of weeks. I’ve bought pretty much anything I wanted to try to make myself feel better. Luckily it hasn’t been anything super extravagant but I’ve definitely loosened the reigns. Impulse spending has been at an all time high. I know it’s bad but it does help in the moment.

I’m trying to let it happen a bit and still stay on top of it. I don’t want to be completely self-destructive and end up in huge credit card debt again, but I also want to enjoy the little things that help.

Do you ever allow a little bit of impulse spending when you are feeling down? How do you put limits on it?

{ 2 comments }

Earn $50 right now:


Click here to start saving with ING DIRECT!

Divorce Thoughts

by Fig on April 30, 2013

First, a little bit of sad news. My husband and I have separated and are planning to divorce.

Yikes, right? It’s sad and horrible and I haven’t fully processed it yet. It’s only been a couple weeks since I found out and while I’m doing better than most people expect it’s still a crazy, life-changing event I’d rather not go through. I’m not going to go into details because in the end we just wanted different lives. Unfortunate, but it happens.

Financial Thoughts About My Impending Divorce

  • One of my first priorities is to get on my feet financially and sort things out for life without my husband.
  • Luckily we didn’t have any joint assets or property to divide. We also didn’t have kids and I get to keep the dog so the actual divorce process shouldn’t be too complicated.
  • I also plan to get back some money from him for things I paid for him over the last year. He didn’t seem to mind so I’m planning to use the $1,000 or so I get from him to pad my emergency fund. Since I’m going to be responsible for myself I’d like to build up that emergency fun as much as possible. Not having a partner and fall back option makes that so much more important.
  • As far as a lawyer goes, I do not plan on getting one at this moment. I don’t believe it will be a messy or complicated divorce so I don’t really need one. My husband will have to be the one to initiate and file, so he will shoulder any expense on his end.

My Next Steps Financially

  • Pay back the credit card debt I’ve run up the week before he left and since. It’s not much, only a couple hundred dollars, but I’d like to have a zero balance there so I don’t fall behind.
  • Beef up my emergency fund. I’d like to focus on this since it will be more important without a partner.
  • Decide on a second job or side hustle. I need to find new ways to stay busy and bring in extra income. I’d like to put myself at a very comfortable place emotionally and financially before taking the next steps in life.
  • Pay off my student loans. I’m down to just over $1,000 and I’m ready for the loans to be gone. Since I’m so close I expect them to only take a few more months even with the set back at hand.

Though it’s a heartbreaking event I’m trying to stay rational and take care of myself. I’ve always been very independent and this bodes well for me recovering emotionally and financially. The financial part will be easier of course, so let’s get started on that!

Next step, debt freedom and financial security!

{ 9 comments }

Earn $50 right now:


Click here to start saving with ING DIRECT!