Experts urge financial calm, rational spending amid regional tensions
As regional crises can impact macroeconomic stability and directly influence household behaviour—shaping spending patterns, savings decisions, and daily financial choices—economists, scholars, and specialists have affirmed that individuals must plan their daily spending and avoid panic stockpiling of unnecessary items. They noted that the decisive factor in confronting such challenges lies mainly in individual awareness and the ability to manage anxiety with balance and rationality. According to experts, periods of uncertainty often prompt individuals to adopt uncalculated consumption habits, such as panic buying or excessive stockpiling, which creates unnecessary pressure on local markets and household budgets. They explained that such behaviours are frequently driven by psychological factors rather than economic realities, underscoring that financial awareness and moderation remain the first line of defence against the repercussions of crises. The experts further highlighted the role of social and religious values in guiding behaviour, promoting moderation, discouraging waste, and strengthening community solidarity. Simultaneously, they stressed the importance of responsible media in delivering balanced messaging that helps individuals make informed decisions and reduces the spread of anxiety. Sheikh Dr Ayesh al-Qahtani, a Muslim scholar, underscored that Islam views financial management during crises as part of responsible stewardship, calling for moderation and caution against both extravagance and excessive frugality. “Crises reveal a person’s awareness and ability to strike a balance between needs and resources,” he said, adding that “decisions driven by fear, such as panic buying or excessive stockpiling, contradict the Islamic values rooted in balance and consideration for others.” Dr Hatmi Khalifa al-Hatmi, assistant professor at Qatar University’s College of Business and Economics, explained that crises often begin with shifts in individual behaviour before appearing in economic data. “How people respond to anxiety ultimately shapes market dynamics,” he said. He further noted that regional tensions tend to trigger what behavioural economics describes as loss aversion, leading individuals to increase precautionary consumption, hold onto liquidity, and postpone major financial decisions. “Herd behaviour and impulsive financial decisions, such as withdrawing investments during downturns, can produce counterproductive outcomes,” he noted, warning that repeated individual actions can evolve into broader market trends, including temporary price increases or artificial shortages. Mubarak Salem al-Nuaimi said current conditions have prompted families to reassess priorities, focusing on essential needs, such as food, education, and healthcare, while reducing spending on non-essentials. “Maintaining calm is the most important factor in making sound financial decisions,” he said, noting that families have become more attentive to tracking expenses and building savings. He acknowledged that while negative behaviours like fear-driven purchasing may emerge, they remain limited due to public awareness and trust in official institutions. Media professional Iman al-Kaabi noted that the role of media during crises extends beyond reporting news to providing guidance that helps families manage financial affairs effectively. “Audiences need to understand how to act in their daily lives,” she said, noting that sensationalism can drive individuals toward hasty decisions. She stressed that responsible media should promote balanced messaging that encourages rational consumption, praising recent efforts to provide practical advice on prioritising essential needs.