المملكة: Urgent: A financial advisor to “Al-Youm”: High savings rates lead to increased liquidity in the financial system
Financial Advisor Dr. Hussein Al-Attas confirmed that saving represents an “economic culture” and a basic pillar of the national economy Sustainable, and not just temporary financial behavior.
And coinciding with the world’s celebrations of Global SavingOn October 31, Al-Attas explained that financial awareness is “the smartest way to build a more secure tomorrow, and the starting point for every successful investment.”
Facing Crises
Al-Attas considered regular saving the “cornerstone” of an individual’s financial stability, as it enables him to confront urgent crises without the need for debt or loans.
He pointed out that this behavior enhances the feeling of security and allows individuals to plan confidently for the future, whether for education or retirement, as well as being an effective tool for controlling spending and achieving a balance between present and future requirements.
At the national level, the financial expert pointed out that high savings rates lead to increased liquidity in the financial system. This, in turn, enables banks to finance development and investment projects, which contributes to creating a more flexible and independent national economy in the face of global fluctuations.
Sustainable Economy
Al-Attas stressed that spreading this culture directly integrates with the goals of the Kingdom’s vision 2030, which seeks to build a prosperous society and a sustainable economy.
He stressed that despite living pressures, saving today has become “more necessary than ever before.”
To build an effective and sustainable savings culture, Al-Attas called for the necessity of treating saving as a “priority” that is allocated immediately upon receipt of income, and not as a remaining “surplus.”
He added that clearly defining financial goals, whether short or long. The range makes the commitment to saving more motivating.
Investment portfolios
He advised taking advantage of modern financial tools such as bank savings programs and low-risk investment portfolios.
He stressed the importance of reviewing consumer habits to reduce unnecessary expenses, enhancing financial awareness as it is the basis for making rational decisions, and encouraging family saving to instill these values in children.
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