Generation Z, the generation born between the mid-1990s and the mid-2010s, is now the largest generation ever, comprising almost 30 per cent of the global population. We all have a stake in their future and success.
Given the looming economic crisis, the dizzying pace of technological advancement and the rapidly shifting social norms, the success of Gen Z will be hard-fought.
Gen Z isn’t shying away from any of this and is frequently lauded for being innovative, entrepreneurial and open-minded.
However, there is one skill they lack: financial literacy.
Through no fault of their own, as it’s not part of the current education system, their ignorance of this subject risks derailing their future.
It’s a risk that needs to be addressed urgently, given the massive downside.
Teaching Gen Z how to how to budget properly is a key part of what financial literacy entails, but the benefits of financial literacy go far beyond showing them how to deftly balance their paycheque with their love of avocado toast and creamy lattes.
Financial inclusion
Financial inclusion refers to the ability of individuals to access and use financial services and products that meet their needs and are affordable.
Financial literacy plays a crucial role in helping these youngsters understand and navigate the financial system, which can seem quite daunting to the uninitiated.
With the proliferation of digital payment systems, online banking and cryptocurrency, young people face more difficulty navigating the world of finance.
This can be particularly important for those who have historically been excluded from the financial system, such as low-income individuals, women and minorities.
Financial literacy can prevent youngsters from taking on excessive debt or falling victim to predatory lending practices, which can lead to financial exclusion.
It gives Gen Z the competence and the confidence to access and use the most appropriate financial services and products like savings accounts, loans and insurance.
Financial scams
There has been a sharp spike in financial scams in recent times. These scams are becoming more sophisticated and difficult to detect and can take many forms, including phishing emails, phone scams, bank impersonations and fraudulent investment schemes.
Latest statistics from the UK’s Financial Conduct Authority show that there has been an increase of 193 per cent in the number of calls from investors reporting suspicious investment opportunities over the past five years.
One of the most effective ways to combat financial scams is through financial literacy.
By educating Gen Z on the warning signs of a scam and the steps they can take to protect themselves, financial literacy can help them from falling victim to these schemes.
This may include teaching them how to identify phishing emails, how to verify the legitimacy of an investment opportunity and how to protect their personal and financial information online.
With the widespread access to various financial and investment products available to anyone with a phone and internet connection, educating youngsters on the inherent dangers becomes even more critical.
Financial literacy plays a crucial role in helping these youngsters understand and navigate the financial system, which can seem quite daunting to the uninitiated
Marilyn Pinto,
founder of KFI Global
The gig economy
The gig economy, also known as the sharing economy, is characterised by short-term contracts or freelance work.
It has exploded in popularity over the past decade, driven in part by technological advancements, and Gen Z is more likely to embrace the gig economy than any generation before them.
This is particularly due to the characteristics of Gen Z alluded to at the beginning of this article, namely: being innovative, entrepreneurial and open-minded.
Sixty-one per cent of Gen Z workers have freelanced in the past year, compared with 47 per cent of all workers, according to a survey by Upwork.
They revel in flexible work schedules, which enables them to balance work and other aspects of their lives; the opportunities for skill development and entrepreneurship, and in the ability to earn a steady income while exploring various career options.
There are, however, some challenges associated with the gig economy, the biggest one being the lack of financial stability that comes with irregular and unpredictable income streams.
Financial literacy, thus, becomes an essential tool for Gen Z’s success in the job market.
These youngsters must be able to properly manage their finances and plan for their future.
By understanding the fundamentals of budgeting, saving for retirement and investing, Gen Z can position themselves for long-term stability and success.
Social sustainability
Financial literacy also has broader societal implications that are critical for Gen Z.
By empowering young people to take control of their finances, we can help reduce economic inequality and build a more sustainable society, one that is less financially fragile and more financially resilient.
This is particularly important in light of the Covid-19 pandemic, which has exacerbated existing economic disparities.
It’s time to prioritise financial literacy and give Gen Z the tools they need for success.
Marilyn Pinto is the founder of KFI Global
Dr Amal Khalid Alias revealed a recent case of a woman with daughters, who specifically wanted a boy.
A semen analysis of the father showed abnormal sperm so the couple required IVF.
Out of 21 eggs collected, six were unused leaving 15 suitable for IVF.
A specific procedure was used, called intracytoplasmic sperm injection where a single sperm cell is inserted into the egg.
On day three of the process, 14 embryos were biopsied for gender selection.
The next day, a pre-implantation genetic report revealed four normal male embryos, three female and seven abnormal samples.
Day five of the treatment saw two male embryos transferred to the patient.
The woman recorded a positive pregnancy test two weeks later.
Killing of Qassem Suleimani
Key products and UAE prices
iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available.
Price: Dh4,229
iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus.
Price: Dh4,649
iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel.
Price: Dh3,179
Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.
Company%20profile
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UAE currency: the story behind the money in your pockets
LIVING IN...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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Background: Chemical Weapons
Results
4.30pm Jebel Jais – Maiden (PA) Dh60,000 (Turf) 1,000m; Winner: MM Al Balqaa, Bernardo Pinheiro (jockey), Qaiss Aboud (trainer)
5pm: Jabel Faya – Maiden (PA) Dh60,000 (T) 1,000m; Winner: AF Rasam, Tadhg O’Shea, Ernst Oertel
5.30pm: Al Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel
6pm: The President’s Cup Prep – Conditions (PA) Dh100,000 (T) 2,200m; Winner: Mujeeb, Richard Mullen, Salem Al Ketbi
6.30pm: Abu Dhabi Equestrian Club – Prestige (PA) Dh125,000 (T) 1,600m; Winner: Jawal Al Reef, Antonio Fresu, Abubakar Daud
7pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m; Winner: Ashton Tourettes, Pat Dobbs, Ibrahim Aseel
7.30pm: Jebel Hafeet – Maiden (TB) Dh80,000 (T) 1,400m; Winner: Nibraas, Richard Mullen, Nicholas Bachalard
Farasan Boat: 128km Away from Anchorage
Director: Mowaffaq Alobaid
Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani
Rating: 4/5
Killing of Qassem Suleimani
The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
Mohammed bin Zayed Majlis
What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
- Understanding of marketing objectives and audience engagement.
- Tourism industry knowledge.
- Professional ethics.
Other IPL batting records
Most sixes: 292 – Chris Gayle
Most fours: 491 – Gautam Gambhir
Highest individual score: 175 not out – Chris Gayle (for Royal Challengers Bangalore against Pune Warriors in 2013)
Highest strike-rate: 177.29 – Andre Russell
Highest strike-rate in an innings: 422.22 – Chris Morris (for Delhi Daredevils against Rising Pune Supergiant in 2017)
Highest average: 52.16 – Vijay Shankar
Most centuries: 6 – Chris Gayle
Most fifties: 36 – Gautam Gambhir
Fastest hundred (balls faced): 30 – Chris Gayle (for Royal Challengers Bangalore against Pune Warriors in 2013)
Fastest fifty (balls faced): 14 – Lokesh Rahul (for Kings XI Punjab against Delhi Daredevils in 2018)
Dubai World Cup nominations
UAE: Thunder Snow/Saeed bin Suroor (trainer), North America/Satish Seemar, Drafted/Doug Watson, New Trails/Ahmad bin Harmash, Capezzano, Gronkowski, Axelrod, all trained by Salem bin Ghadayer
USA: Seeking The Soul/Dallas Stewart, Imperial Hunt/Luis Carvajal Jr, Audible/Todd Pletcher, Roy H/Peter Miller, Yoshida/William Mott, Promises Fulfilled/Dale Romans, Gunnevera/Antonio Sano, XY Jet/Jorge Navarro, Pavel/Doug O’Neill, Switzerland/Steve Asmussen.
Japan: Matera Sky/Hideyuki Mori, KT Brace/Haruki Sugiyama. Bahrain: Nine Below Zero/Fawzi Nass. Ireland: Tato Key/David Marnane. Hong Kong: Fight Hero/Me Tsui. South Korea: Dolkong/Simon Foster.
Fixtures
50-over match
UAE v Lancashire, starts at 10am
Champion County match
MCC v Surrey, four-day match, starting on Sunday, March 24, play starts at 10am
Both matches are at ICC Academy, Dubai Sports City. Admission is free.
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Killing of Qassem Suleimani
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List of officials:
Referees: Chris Broad, David Boon, Jeff Crowe, Andy Pycroft, Ranjan Madugalle and Richie Richardson.
Umpires: Aleem Dar, Kumara Dharmasena, Marais Erasmus, Chris Gaffaney, Ian Gould, Richard Illingworth, Richard Kettleborough, Nigel Llong, Bruce Oxenford, Ruchira Palliyaguruge, Sundaram Ravi, Paul Reiffel, Rod Tucker, Michael Gough, Joel Wilson and Paul Wilson.
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UAE currency: the story behind the money in your pockets
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
'Top Gun: Maverick'
Rating: 4/5
Directed by: Joseph Kosinski
Starring: Tom Cruise, Val Kilmer, Jennifer Connelly, Jon Hamm, Miles Teller, Glen Powell, Ed Harris
Company profile
Company: Verity
Date started: May 2021
Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif
Based: Dubai
Sector: FinTech
Size: four team members
Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000
Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors
RESULT
Arsenal 1 Chelsea 2
Arsenal: Aubameyang (13')
Chelsea: Jorginho (83'), Abraham (87')
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
More coverage from the Future Forum
KILLING OF QASSEM SULEIMANI
RESULTS
2pm: Handicap (PA) Dh40,000 (Dirt) 1,200m
Winner: Najem Al Rwasi, Fabrice Veron (jockey), Ahmed Al Shemaili (trainer)
2.30pm: Handicap (PA) Dh40,000 (D) 2,000m
Winner: Fandim, Fernando Jara, Majed Al Jahouri
3pm: Maiden (PA) Dh40,000 (D) 1,700m
Winner: Harbh, Pat Cosgrave, Ahmed Al Mehairbi
3.30pm: Maiden (PA) Dh40,000 (D) 1,700m
Winner: Wakeel W’Rsan, Richard Mullen, Jaci Wickham
4pm: Crown Prince of Sharjah Cup Prestige (PA) Dh200,000 (D) 1,200m
Winner: Jawaal, Fernando Jara, Majed Al Jahouri
4.30pm: Sheikh Ahmed bin Rashid Al Maktoum Cup (TB) Dh200,000 (D) 2,000m
Winner: Tailor’s Row, Royston Ffrench, Salem bin Ghadayer
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
The years Ramadan fell in May
UAE currency: the story behind the money in your pockets
Fixtures
Sunday, December 8, Sharjah Cricket Stadium – UAE v USA
Monday, December 9, Sharjah Cricket Stadium – USA v Scotland
Wednesday, December 11, Sharjah Cricket Stadium – UAE v Scotland
Thursday, December 12, ICC Academy, Dubai – UAE v USA
Saturday, December 14, ICC Academy, Dubai – USA v Scotland
Sunday, December 15, ICC Academy, Dubai – UAE v Scotland
Note: All matches start at 10am, admission is free
The years Ramadan fell in May
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