Dubai: More than 2,200 women in workers’ accommodations across Dubai attended sessions aimed at ensuring basic financial literacy to help them manage their earnings better.
The training was provided by money transfer firm Western Union for free and endorsed by the Ministry of Labour.
Workers were taught how to record their income and expenses in monthly balance tracker booklets as part of the training. Advice on saving, budgeting and spending was also provided.
The Apna Sapna (Our Dreams) campaign began in November 2014 as part of the firm’s corporate social responsibility efforts.
On Wednesday, some of the women who attended the classes met with company officials ahead of International Women’s Day, which falls on March 8.
A survey said 99 per cent of the women who attended the sessions were confident they would be able to make some savings — compared to only 51 per cent of those who hadn’t taken the course.
At the meeting on Wednesday, at The Oberoi Hotel in Dubai, the women said the urge for impulsive spending was significant in Dubai as compared to their home countries.
They added that not tracking expenses was a common mistake that migrant workers make.
Marketing executive Beacollan Morra from Kenya said the training was “an eye opener” for her.
“To save, you assume 10 per cent of your salary is not in your salary, for example. Save first, spend later. People do it the other way around,” Morra added.
“It is really hard to keep track of expenditure if you don’t log it in. You have to be true to yourself with the booklet; it’s easier to save if you track it.”
Hatem Sulaiman, Regional Vice-President-Middle East, Western Union, said knowing the basics of managing finances was “for everyone” and not just lower-income workers.
“We all need to learn. People don’t know how to do it [manage earnings and expenses well],” he added.
Sulaiman said the training would “snowball” and spread by word of mouth, helping others in the process.
“From day one to the day they [workers] depart from the UAE, [prudent financial management] can help them reach closer to their dreams.”
