Tell Me Why financial literacy is important

Purvi Munot, CEO of Sav, joins Maria Botros in this week’s Tell Me Why episode to talk about the importance of budgeting and how to achieve financial literacy.

• First, define your goals because only then will you be able to say what your spending and saving habits should look like, says Purvi
• Purvi: We’re driven by the idea of ‘FOMO’ (fear of missing out) which leads us to imitate the spending habits of others
• Right now in the UAE, the rate of savings is at about 3%, says Purvi
• Purvi: UAE’s Ministry of Finance launched an initiative to help people understand their money better