Spending beyond means – then it’s time for some ‘financial wellness’ lessons, says Souqalmal CEO
Dubai: Need to get a grip on your income and expenses but don’t know where to start?
The online platform Souqalmal has introduced a “Financial Wellness” program designed to give employees – and their employers – a certain understanding. The program went live on Thursday and features presentations (including videos from The Money Doctor) that employees can access for a year.
“Employers called us to ask for help because in the COVID-19 situations, many employees found they weren’t saving properly,” said Ambareen Musa of Souqalmal. “They lived way beyond their means – but as long as the income came in, they were fine.
“So employers realized that there should be great education and they looked to help.”
The content is localized and tools such as budgeting and mortgage calculators are available. The financial literacy program has been in existence for four months and comprises nine different modules.
“Companies offer health programs to their employees – why not financial education?” Musa added. “It’s a direct correlation with productivity and stress levels at work.”