The Ministry of Social Development and Family, represented by the Family Empowerment Department, in cooperation with the Bedaya Center, organized a workshop entitled The Art of Saving in conjunction with World Savings Day at the Pearl Social Development Center, which falls on October 31st of each year. It aims to raise community awareness and paves the paths towards less consumption and expenses rates.

This workshop aims to raise community awareness in regulating expenditures and criticizing negative consumer patterns and habits, which contributes to improving living conditions and developing the family economy. It also encourages families and individuals to have a culture of family saving and rationalization of consumption, in addition to activating cooperation and coordination processes between social, economic, educational, and media institutions to prepare comprehensive and integrated awareness programs that go directly towards giving individuals and families a culture of saving.

Mr. Mahmoud Al-Mahmoud, a specialist in the field of entrepreneurship at Bedaya Center, presented a workshop that covered several topics, including the importance of saving, the stages of saving money, how to build and organize a budget, preparing for a lifestyle, renewal, ways to save money, and the tips to make saving money a way of life.

He  emphasized the necessity of allocating a bank account to save money highlighting that the amount saved should not be less than 10% of the individual’s total income under any circumstances to own the basic needs, and one should stay away from false desires.

Mr. Al-Mahmoud also directed families to look for alternatives that give the same advantages at a lower price, compare product prices before purchasing, buy home products in bulk cleaning products, monitor call bills, and not follow fashions.

Mrs. Fatima Mohammed Al Nuaimi, Director of the Family Empowerment Department, explained that the Ministry of Social Development and Family emphasizes saving by establishing awareness programs and plans that begin with the will to rationalize consumption and spending. She stated that the Ministry also confirms the source of income, its size, expenses incurred, and distribution to achieve their goals and secure their future, such as buying a house or a car to reach the stage of financial independence and control a more sustainable life. Saving enhances the ability to plan, making it a necessary process to ensure financial security.