Abu Dhabi: It is important to be happy, to create values, and to change the world, but most important is understanding the language of money to achieve those big dreams, said experts on Wednesday in the capital.

With 70 per cent of young Emiratis reported to be in debt in some form, experts said it is critical to launch a financial literacy programme to spread the culture of saving and spending across the UAE.

“Lack of effective financial planning and an increasing desire to acquire luxuries are some of the contributing factors for 70 per cent young Emiratis in debt. This is an alarming number. It is essential to conduct a programme which will make youth more conscious of their spending habits,” Maitha Al Habsi, chief programme officer at the Emirate Foundation for Youth Development, said in a press conference held in Abu Dhabi.

The Emirates Foundation, in collaboration with Operation Hope — the US-based organisation focused on financial literacy and empowerment — announced the launch of its latest pilot project, “The 100 Youth Club.”

Teaching Emiratis the value of money | GulfNews.com.

 

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