According to the National Register of Savings Bonds 2011, published this week, the level of our savings has declined in the last year. More worrying, however, is that 86 % of people in the United feel they have not saved enough for their future, 46 % say they save far less than planned and a whopping 71 % of us do not save regularly.

Any wealth planner or financial advisor worth his salt will tell you that planning for the future is vital. After all, not everyone is lucky enough to have children friendly, charitable and volunteer to be to house and feed us if we can not provide financial support in old age.

And the idea of that happening is pretty depressing. Not only for me but for my daughter, who, just eight years, depending on me for quite some time.

Given the billions that have been deleted global pension funds from the financial crisis hit in the second half of 2008, not to mention the fact that some governments around the world can not afford to provide a state pension its citizens (one of the main reasons for the age of retirement has risen, or are in process of being higher in a number of countries, including Australia, France and UK), has never been a worse time to not save.

But somehow, the reasons are understandable.
Some participants in the survey, which was held in conjunction with YouGov, blamed the rising cost of living in the UAE for their inability to save a little money each month.

Others said they could not save because they had too many responsibilities and loans to pay every month, leaving the cupboard bare and a fragile living hand to mouth existence.

But the biggest complaint that emerged from the survey was that the residents of the UAE were paying more for the necessities of daily life, including food, household goods transportation and utilities.

"Different individuals show different patterns Emirates, however," says National Government Bonds, based in Dubai Sharia savings plan. "Sharjah and Abu Dhabi offer greater contrast. While Sharjah residents say they are spending more money on basic needs like food, household items and education of children, living costs in Abu Dhabi" will increase until the transport, accommodation, restaurants and buying luxury items. "

I have made the cost of educating children to death recently, so everyone knows my opinion on this. I am surprised, however, was not a problem for residents of Abu Dhabi given the pressure on school places here and the fees that are high. Transport I can understand. The cost of gasoline has risen twice in the last year.

But what about the incentives to save? At the height of the financial crisis, banks in the UAE, under the liquidity and desperate for our money, high interest rates offered on our savings. At one point, my bank called me about 6 % for a six-month fixed deposit accounts.

Today, that same bank is offering just 1.05 % for the same account. Savings accounts offer even less, with some banks paying as little as 0.10 %. I guess that's what happens when you do not need our money as much.

One issue contributing to our inability to save: the financial awareness of many of the UAE is very poor. In fact, many people here do not even have a bank account, based on cash and help from a medium of exchange of money to move their money on.

Last October, Personal Finance launched a financial education, kicking with a special issue dedicated to improving financial literacy in the UAE.
Some banks have followed our steps, in particular, Abu Dhabi Islamic Bank, who began his financial awareness campaign in April.

National government bonds has also promised to do their part to create financial awareness in the UAE, saying that he is planning a tour of the community to help "manage your spending plan and savings

"We have seen that while there is a willingness to save, there is a lack of understanding of how to save," said Mohammed Qasim Al Ali, executive director of National Government Bonds.

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"As a result ... we will launch a financial education tour later this year, which will aim to educate the different segments of the community, such as housewives about the tools you use to develop habits health savings. "

And, like any wealth adviser or financial planner worth his salt will tell you, it's never too late to start.