THIRUVANANTHAPURAM, 23 December 2006 — A survey conducted by the Sharjah-based Pravasi Bandhu Trust has found that while 98 percent of Non-Resident Indians (NRIs) working in the Gulf agreed that their jobs abroad have helped improve their family’s standard of living back home, only five percent felt they would be able to live a comfortable life once they return home. The online survey had 10,100 respondents.
“These findings highlight the need to change their attitude to money management by controlling expenses. They should also take their family into confidence and make them aware of the need to save and invest wisely,” the Trust chairman K.V. Shamsudheen, who conducts a weekly counseling on the Dubai-based Asianet Radio for the Non-Resident Keralites (NRK), said.
“These days every week I get dozens of calls from men in distress during my live radio program. Ninety-nine percent tell me that they spend their valuable time in Gulf but they do not have any savings because they spend whatever they earn for their family. They have no idea what they would do once they return for good,” he said.
Most of the respondents — 80 percent — said they were married, but only 10 percent said they could afford to keep their families with them. A majority of the workers who responded were between the ages of 30 and 40. “I tell them not to be disappointed and they still have time to start saving,” said Shamsudheen, who said part of the problem is the rising cost of living, especially in cities like Dubai.
A busy campaigner against drugs and alcoholism, Shamsudheen also gives online counseling through his website www.pravasibandhu.com and email kvshams@gmail. According to him, the GCC countries are the only place in the world where salary reduction is very common while cost of living escalates.
“Old timers struggle for existence not being able to afford spiraling rents, and medical and other costs,” he said. “They support a big, joint family back home. They are like candles burning for others.”
On the other hand, Shamsudheen said younger NRIs — especially more educated ones — have different attitudes.
“Most of them have their families with them.” He said. “They enjoy a better life and spend whatever they earn for their own comfort. They have smaller families and fewer commitments back home. But, still, most of them are heavily dependent on credit cards and bank loans and they don’t care for saving for future.”
He said the families of NRIs in India should pitch in to help increase personal savings.
“Most of them say their dependents back home spend lavishly on food, dress, health care, travel, marriage and for social functions unmindful of their sufferings,” he said.
He has been interacting with the NRKs on the radio since 2001. He also conducted 93 interactive sessions titled, “For a Better Tomorrow,” attended by 14,000 NRKs on how to improve their earnings and on retirement plans. “After three decades of working here, many find they have no resources to lead a comfortable life. When I ask them how many of them have confidence to lead a comfortable life after retirement, three to four percent say they would manage,” he said.