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Building a strong financial future
In today’s fast-paced and ever-evolving world, financial literacy is a crucial skill that every teen should possess. As parents, educators, and mentors, we have a responsibility to equip our young generation with the knowledge and tools to navigate the complex world of personal finance successfully. This is where our app, FataFeat will come in. It…
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What is Compound Interest?
Interest is money you earn on your savings or pay for borrowing. Compound interest is money you earn on both the money you save and the interest you earn on that saving. So every year you earn interest, you also earn interest on the interest itself. Compound interest is great when you’re saving. Here is…
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Basics 101: Needs vs. Wants
Looking at your needs vs wants is a helpful way of figuring out a better way to handle your spending and budget. Understanding the difference between needs and wants will help you manage your budget and prioritize your spending. Needs are essential to living comfortably (for example shelter and food) but wants are often expenses…
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Mada Card vs. Credit Card
One of the most significant differences between a mada card vs. credit card is how payment is handled. With a mada card, funds will withdraw immediately from your bank account when you make a purchase. When you use a credit card, you take a loan. Read more to learn about the key differences! Mada Card A…
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How to read a bank statement
A bank statement shows the details of activity in a bank account over a set period of time. This is typically one month. Bank statements are generally issued as electronic account statements (aka ‘e-statements’). Alternatively, sent in the mail as paper documents. It is important to know how to read a bank statement correctly to…
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What is a mada card?
When you open a bank account in Saudi Arabia, you are given a mada card. It acts as your gateway between the money sitting in your bank account and your everyday transactions. In other words, the mada card is the equivalent of a debit card. It can be used instead of giving cash to a…
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Why is it important for teens to learn about financial literacy?
At a certain age, we become less interested in spending time with our families and want to spend more time with our friends. Now we are not saying any of that is bad – we’ve all gone through this phase. But, teen years are not only extremely formative but important in shaping and influencing who…
