Aisha Al Naqbi noted in her introduction that financial issues are the reason of many family problems whereas families fail to rely on a financial plan to manage their accounts and expenses over the time.
Aisha Al Naqbi said that income and the possibility of obtaining the necessary necessities, such as food, clothing or housing, are among the basics of establishing and stabilising the family, and many disputes arise due to financial problems such as allocation of income and consumption. She added that financial planning is key to regulate income and expenses, which is related to the culture of consumption, i.e. the cultural aspects.
Al Naqbi explained the different types of consumption whereas ordinary consumption is spending on daily need, a permanent spending on food, beverage and others. On the other hand, there is the non-ordinary spending, which is specific to occasions, weddings or feasts, and it may be related to a disease that requires emergency spending.
Al Naqbi says that financial planning is finding an easy way to manage money during a specific period, and with careful planning, one sees dreams turning into reality.
Al Naqbi concluded that everyone should determine their budget to be able to determine their ability to save, and to determine their behaviour, needs and desires.
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