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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