المملكة: Specialists told Al-Youm: The culture of saving is a national necessity to empower young people economically
Experts and specialists in investment and financial management confirmed that enhancing the culture of Savingand investing, especially among young people, represents “national behavior” and a personal responsibility necessary to achieve financial stability and economic empowerment.
Participants in the “Tomorrow’s Wealth” event, organized by King Abdulaziz UniversityOn the occasion of World Savings Day, he stressed that early financial awareness is the best way to build a sustainable future.
Achieving financial stability
Financial advisor Salah Khashoggi stressed that saving is no longer an option, but has become a necessity for every individual to ensure his future stability.
He explained that the current rate of saving in the Kingdom, which amounts to about 6% according to the financial sector development program, is insufficient, calling for it to be raised to reach At least 10% to achieve financial stability for individuals.
He advised Khashoggi to adopt a culture "Pay yourself first" By deducting no less than 10% of the total income as savings before any other commitment, and investing this amount regularly.
He explained that total reliance on support or social insurance programs, despite describing the Kingdom’s programs as among the most generous programs in the world, is unhealthy behavior for maintaining the standard of living after retirement, stressing the importance of awareness and individual responsibility.
Starting the investment journey
For his part, Sultan Al Khayyal, Executive Director of one of the investment platforms, stressed that awareness Early financial education is the best path to a secure future, pointing out that modern technologies have made it easier for young people, and even university students, to start their investment journeys with deliberate steps and limited risks through digital platforms.
Al-Khayyal advised diversifying investments and making them long-term, stressing not to allocate the money that an individual needs soon for investment, given the nature of the fluctuating markets that require patience.
He pointed out that financial awareness is an ongoing process that must be instilled in the hearts of young people to become a healthy financial habit.
Economic Security
In a related context, Dr. Heba Qazzaz, Supervisor of the Finance Department at King Abdulaziz University, explained that saving represents a basic pillar. for financial stability, stressing that universities have a pivotal role in instilling this awareness.
She described saving as "Culture of life" It is a means of achieving independence and economic security, and preparing a generation capable of making rational financial decisions that will reflect positively on the national economy.
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