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Powered by GulfNews.com, one of the most popular daily English language newspapers in the United Arab Emirates.

Save early, readers say


05/24/2009 11:46 PM | By Rabab Khan, Community Journalist

Is being aware of finances from an early age really necessary? Gulf News readers think so.

Trupti Ratanshi Ashar, an Indian expatriate, is glad she learnt how to save money as a child.

She said: "My parents would give me a limited amount of pocket money, which I saved in a small box. I was allowed to spend it whenever needed. When I grew up, my father opened a bank account for me."

John Paravalos, a Greek expatriate, had no choice but to learn how to save as a child.

He said: "My parents would give me an allowance at the start of the week and I was allowed to do whatever I wanted. But, if I ran out of money, I wouldn't get any more. This way, I learnt to save money and it has helped me manage my finances as an adult."

Paravalos thinks that everyone should learn the true value of money.

Abir Ahmad Ansari, a Pakistani expatriate, was allowed to spend on necessities only.

She said: "As a child, I was given an allowance of Dh5 per week. Depending on how much I saved, my parents would then increase the amount as a reward. However, I wasn't allowed to purchase items that I did not need. I think this was really helpful. If I hadn't learnt as a child, I wouldn't be saving as an adult."

Abir is in favour of encouraging every child to avoid wasting money. She said: "I think all children should be taught to save money. If not, they would not know their limit."

 
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