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Children engaging with finance early through allowances
The article discusses how children start engaging with the world of finance at an early age through the concept of "Generation Alpha," focusing on developing financial literacy by dealing with digital payments and small-scale commerce. Experts explain that 75% of eight-year-olds and 92% of fifteen-year-olds in the UAE make independent digital payments. Their spending is primarily directed toward online games and digital services, with 47% of their allowance in the Gulf spent on electronic games, compared to 28% in the United States and Britain. The article emphasizes that this stage marks the beginning of spending before transitioning to real investing.
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