Start 2013 Smarter: 3 Resources to Help You Manage Your Money in the Middle East
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With the tumultuous shifts the
world economy has seen in the past few years, it is
understandable that more and more people are questioning their
perceived level of financial independence. If the last few years
have taught us only one thing, it’s that you cannot afford to be in
the dark about money matters. Whether you are a first-time
entrepreneur, a student, or a homemaker, being in charge of your
financial matters is a skill that is quickly becoming crucial to
your survival in this sometimes unpredictable world.
If you are here reading this, chances are high that you managed to
survive
the apocalypse. Since you have a new lease on life, it makes
sense to now set your life and finances on the right path. As
an experienced resolution maker (and breaker), I can say with
complete confidence that the two main reasons people fail to stick
to their resolutions are lack of a support network and lack of
available tools. The motivation to succeed takes leave only after
these two go missing.
As 2012 ends, it’s time for you to get your numbers right, and in
order to do that, you need to arm yourself with basic knowledge of
financial matters.
Below are three resources that are customized to the financial
needs of the region. If you're looking to make 2013 the year of
better finances, these resources are good places to start.
This financial literacy program by Visa is one of the most
comprehensive financial resources available in the region today.
Customized to suit the region, the the
program provides basic personal finance information in
both Arabic and English on a variety of topics.
Ehsib also features Financial
Football, a fast-paced FIFA-style multiple-choice quiz
that tests players' knowledge of financial management skills as
they advance downfield and try to score goals. The website covers
topics as diverse as building a budget, smart shopping, and
identity threats. The information is concise, simple and delivered
in a crisp manner.
Overall, there is a world of information on this website and the
only downside is that it can be a little overwhelming for the
novices. If you fall in that category, check out the next
resource.
Riyali is a financial literacy program from Saudi Arabia that
offers a series of workshops geared towards college students. But
if you’re not a college student or don’t live in Saudi Arabia, you
can still have access to its pearls of financial wisdom.
The Riyali
pocketbook offers hands-on tips and checklists that anyone
can use to navigate the tricky waters of financial knowledge. I
especially like that the pocketbook comes with step-wise guides and
even a personality quiz that is simple for beginners. Riyali also
has a robust social media community (on Facebook and
Twitter) and some of
the conversations there (mostly in Arabic) can actually help
motivate you to stay on track as you struggle through the first few
weeks of budget cuts and tough realizations about how much you have
been overspending.
The pocketbook page promises that the Arabic version is coming
soon. At the pace at which this program is growing, I won’t be
surprised if we see more downloadables and hands-on tools in the
year to come.
Dr. Dirham is a character billed as “an Emirati expert in
personal financial matters who is eager to help you manage your
money more wisely," via a YouTube channel dedicated to videos about
basic financial concepts. The videos are in Arabic with English
subtitles, and offer step-by-step advice on specific topics, from
buying a house to being a smart shopper or teaching children about
financial concepts.
It might seem difficult to advise on buying a house in under 3
minutes but the videos are fast paced and to the point, making them
easy to follow. The channel only has 13 videos currently, and
although the videos offer a variety of themes as well as
demographics, we hope that as the series grows it will also include
downloadable tools or even printable transcripts to use as
references.
So there you have it, three tools that can help you become more
savvy about spending your money in 2013, with tutorials customized
to the Arab world.
If money was a big source of stress in your life this year or you
are thinking of starting a new venture in 2013, take this
opportunity to acquaint yourself with the often bewildering world
of personal finance and set clear achievable financial goals. With
the tools above, you may not lose your last 10 pounds, but you will
definitely be smarter and maybe also a tiny bit wealthier as the
next year end rolls around.
[Photo credit: Tax Credits photostream on Flickr.]