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
