Children’s financial stability and spending wisely… families’ responsibility

Follow up: Jehan Shuaib

“Financial sustainability of children” is the topic of the Ramadan “Gulf” session, Mohammad Rasheed Rashood, Chairman of the Parent Council of Tibba Al-Hisn, on finance and investment, and teaching them the spirit of leadership and financial innovation. A gathering of social events in Tipbah al-Hisn.

At the beginning of the session, Muhammad Rashood affirmed that the Parents Council had decided that the content of the session should be in line with the country’s annual celebration to inculcate economic education in children and provide them with manners. Help them manage their financial affairs in the future by accompanying them while shopping, involving them in buying things, and instilling good behavior in them.

Good example

Ahmad Abdullah Al-Naqbi, who moderated the session, emphasized the importance of dialogue sessions to address the challenges and make useful suggestions. There is no doubt that it is necessary to develop the good qualities of the future. The generations that we received from our parents and forced by our true Islamic religion, when we say that we need to develop financial skills, we should start from the parents, because they should be a good example for the children, so if the father guides in spending. , they will follow him.

He said that by monitoring, following, observing and acting intelligently with the children, they should encourage entrepreneurship and teach them to save and avoid extravagance and spending in moderation. Importance of benefits and savings. And Muhammad Rashood commented, “Parents should set a schedule for their children on how to manage their money, one part for savings, one part for charity work, and another for their daily expenses, planning works to build funds. Sustainability for them.”

For example education

Sulaiman bin Jumao, head of Tippah Al-Hisn City Council, which is affiliated with the Suburban Council, said that real education comes through an example, the parent council was previously filled with children, they are not theoretical, learning in practice and if we return to it with our children, it will have a huge positive impact. Pointing to money, even if it is a desire, the whole world is saving and running a business.

Here, Salem Obaid al-Adab recounted a personal experience with his two sons, when they went to university studies in the United States,​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​front. Housing, and he changed his location and car several times, after they finished their university studies, they returned to the state, first he saved a good amount because he relied on the spending plan, the second came in debt. .

He said: “If an individual buys expensive clothes and luxuries, he cannot save, and there are women who borrow money to buy bags, one of which is 50 or 60 thousand dirhams, and there are also men who buy. A car for 600,000 dirhams, he repeats that he is in debt because he is in debt. He desired more than he had and spent more than his capabilities allowed, while the individual should only spend in light of his capabilities. As for children in general, they follow the father’s approach, so the family may suffer from lack of financial liquidity.

Cost method

The word reached Ahmad Abdullah bin Yaruf, the head of the municipal council in Tibba al-Hisn, and he said: “I am a wasteful person, although we have a good salary, we do not have two thousand dirhams until the end of the month. But in 2017 when I traveled to Britain with my family I have a simple experience with children.I handed over the responsibility of managing financial affairs to my middle son who was 14 years old and gave him complete freedom. , and today he is the only one who is not demanding, rather he can make a way to spend even the computer he buys for himself according to his expenses.

As for Muhammad Ibrahim al-Salami, he spoke of having no experience in saving, because he dealt with life from the principle of “It happened by the grace of your Lord,” and he did not accustom his children to it. savings, and he provides everything they need, so that they don’t feel that there is someone better than them, “In my personal view, individual expenditure should be balanced, and children should be taught that it is part of the balance. The principle of savings is that as long as a person has financial capacity, he can provide for himself. To provide what is needed so that he is not inferior to those around him.

Muhammad Ahmad Al-Nuaimi replied: “Savings are an important part of life, but it is necessary to look at the category of low-income people who cannot do so, so I recommend creating a fund that deducts an index. To help them in any emergency, I believe that there are people who do not have access to milk, food. As said, it is true that I brought (the coin) for my children to save for the poor. Their children, so they started saving in it, and after they finished the game, they kept what was left with them, so I then made sure that my study for them would not go to waste.

Planting values

The doctor confirmed. Khalid Ali al-Hindasi, the necessity of saving, he taught his eldest son to save, in fact, within a year, he was able to get married and have a big wedding ceremony, and then create a family without financial hardship, debt, or bank installments, And added: “We have to spend according to our economic situation and our financial capacity.” Without looking at others, Rashid al-Khal continued: The most important thing is to inculcate true values ​​in children. They should be taught the basics and concepts of how to acquire financial skills and plan for their future projects. Ahmad Al-Naqbi said: We must develop children’s abilities and talents in the right way.

Jamal bin Yaruf told the participants in the conversation that many years ago, when he was working as a teacher at Al-Khalidiya School of Conduct, he participated in a class to improve the behavior of students. In order to avoid financial loss to the school in the cost of cleanliness of the classroom, workers were assigned to do so, while the head of the cleaning staff was asked to take photographs of the classroom twice a day. The result is 70% positive. “We can organize lectures for children on how to buy only what they need,” commented Issam Nashad, a teacher at Al-Khalidiya School.

For his part, Juma Abdullah Al-Mukni, head of the Council of Suburbs and Villages of Al-Kharoz region, indicated that he was able to save an amount that enabled him to build a house and educate his children. : “The State aims at the quality of life of the individual and the community, and all share in that responsibility, and language and customs must be stable.” , and popular tradition, which improves human life in all fields.