PO Box 20107
Dubai, United Arab Emirates
Al Bustan Centre and Residence, the popular hotel-apartment among tourists and businessmen in the heart of Dubai, recently conducted a Financial Awareness Program for all its employees aimed at helping them effectively manage their funds and savings to benefit themselves and their families.
Conducted by Mr. Santosh Kumar, Head of Life Department Petra Insurance Brokers LLC, and part of the property’s Corporate Social Responsibility (CSR) activities, the program hopes to teach the employees how to set their goals and start saving from a young age, save money for education, retirement, to lead a happy life, get rid of bad habits, and refrain from using credit cards.
Mr Kumar said: “We all dream and seek a better life for us and our families. In its purest form, life includes uncertainty, unpredictability and some form of risk. Nobody plans to fail, but many fail to plan. Hence it is important to set realistic goals now to achieve financial freedom later.”
Goal settings were discussed at great length as a powerful process for thinking about and motivating oneself to turn vision into reality. The five ingredients of happiness such as Health and Energy, Loving Relationships, Meaningful Work, Financial Freedom and Higher Level of Inner Peace were also discussed.
The program also pointed out the advantages and disadvantages of having credit cards. Mr Kumar added: “If we manage our funds well and in proper manner within the limit is an advantage, but if we misuse, spend more money, go out of budget, these are disadvantages, so we should get away from using credit cards. It is important to sit with your Financial Consultant as least for an hour once in a year to manage your finances.”
Moussa El Hayek, Chief Operating Officer of Al Bustan Centre and Residence, said: “The UAE has great percentage of expats who arrive here from different part of the world to work and support their families. If one is not cautious, fluctuations in economy can seriously hamper our work ability and finances. So it is important that one commits to a savings plan to guard against the effects of any such eventuality. As a concerned employer it is our duty to care for the well being and welfare of our staff and I am sure the program has been very helpful to all our staff members and will get them started on a savings plan.”