Pocketful of Dirhams

Helping your children learn about the importance of charity

While saving and budgeting are important habits to teach children when they are young, financial experts say generosity and gratitude are also essential components of financial literacy programmes. Understanding the importance of giving back can lead to positive affirmations for children, making them feel as though they can make a difference in the world and help others less fortunate.

According to some studies, generosity towards others activates a part of our brain that is similar to feelings of pleasure – and can help us become more empathetic, responsible and kinder as adults. But how do we teach our children how to give back and help others – and is there a certain age we should begin?

Host Felicity Glover is joined by Soniyaa Punjabi, a life coach and founder of Dubai-based well-being centre Illuminations, who shares her top tips on the best ways parents can teach their children about charity.

Will your salary increase this year?

The Covid-19 pandemic has weighed heavily on millions of workers around the world, with many either losing their jobs, being furloughed or having their salaries cut. While a number of UAE employers reduced their staffing budgets last year to remain operational, the latest salary report by global recruitment consultancy Hays paints a more positive picture for 2021. The report found that hiring activity started to pick up in the fourth quarter of last year and this trend has continued into 2021. Meanwhile, 55 per cent of employees are confident that their salaries will remain stable for the rest of the year.

In fact, Hays says in its report that it doesn’t expect the pandemic to negatively affect salaries further in 2021, which is great news for employees. But the big question is: will our salaries increase this year or do we need to remain patient and hope that 2022 brings us financial rewards?

Host Felicity Glover is joined by Chris Greaves, the managing director of Hays in the Middle East, who explains why salaries in the UAE will remain stable this year and gives his top tips on how to negotiate a pay rise.

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The best way for parents to educate teenagers about money

Teaching your teenager how to manage their money may not be as straightforward as you think. Personal finance only forms a tiny part of the curriculum at school, with teenagers often relying on their parents to learn vital lessons about managing money. But with teens sometimes resistant to anything their parents have to say, they may choose to ask others for advice or do things their own way.

Parents may also not be the best source for financial literacy guidance, particularly if they have handled their own money matters badly. But is it really necessary to recruit the help of an expert to educate your children on how to manage their finances?

Host Alice Haine is joined by Marilyn Pinto, founder of the Kids Finance Initiative, who explains the key lessons children need to learn as they navigate their way through their teenage years and on to university.