What is financial literacy - how to improve your level and learn to plan your income and expenses. What is financial literacy: where to start

Why is improving financial literacy the most important prerequisite for improving material well-being? What are the most important lessons in financial literacy?

Today, the problem of financial literacy is widespread, both in the countries of the post-Soviet space and in the developed countries of Western Europe and North America. The paradox is that, despite the low financial literacy of the population, basic lessons and money management skills are unlikely to become a separate subject at school or university.

The basics of financial literacy are the most important prerequisite for improving one’s own material well-being, because when a person has the skills to manage his money, he manages it more effectively.

Financial literacy: where to start

Regardless of your education or income level, you can start improving your financial literacy today. We recommend you the following sources.

#1 Books about personal finance. There is no point in reading specialized books about the monetary policy of central banks or the structure of the modern world foreign exchange market - this will not help you in practice. You need books that are focused on developing practical money management skills for every day:

• Bodo Schaeffer “Money, or the ABC of Money”, “The Path to Financial Freedom”
• Robert Kiyosaki "Rich Dad Poor Dad"
• Robert Allen "Faster Money in Slow Times"
• Napoleon Hill "Think and Grow Rich"
• Brian Tracy "21 Immutable Laws of Money"

#2 Video materials. Today, a number of personal finance and self-education experts are posting short videos on YouTube that teach the basics of financial literacy. Please pay attention to the following specialists:

• Vladimir Savenok
• Evgeniy Deineko
• Robert Kiyosaki

If you start studying the above books and videos, you will soon understand that financial literacy is more about a person and his personal qualities than various sophisticated financial and investment theories.

Of course, if you decide to invest your money yourself, then you cannot do without a certain foundation of basic knowledge. In this case, read the excellent book by British author Leo Goh, written in the simplest language possible, “How the Stock Market Really Works.” It is designed specifically for those who have never encountered investments and the securities market.

If you don’t have time, but have a strong desire to improve your level of financial literacy, then download audiobooks and listen to them on your way to work.

Basics of financial literacy

Financial literacy is based on three main factors:

1. Discipline
2. Analysis
3. Planning

You can read dozens of excellent books on personal finance, take training from the most authoritative and sophisticated gurus, but if you lack your own discipline, then this knowledge will not be of practical use. Therefore, while learning the basics of money wisdom, you must at the same time get to know yourself better and identify your strengths and weaknesses.

In order to effectively manage money and get rich, you will definitely need such a quality as discipline.

The second main factor of financial literacy is not as scary as it might seem at first glance. No one will require you to evaluate the value of the enterprise or attempt to determine the fair price of shares. What does this mean? First of all, analyze your family budget. This does not require a higher education, just write down all your expenses and expenses so that at the end of the month you can look at your expense items and outline measures to optimize them.

Planning is an essential skill not only in the context of improving financial literacy, but in general, in any area of ​​life. A financial plan is a compass that will guide your efforts and serve as a support when making financial decisions.

Financial literacy lessons from Robert Kiyosaki

R. Kiyosaki is a famous writer, entrepreneur and investor. He went from poverty (after spending a year with his wife Kim without their own home) to financial independence and shares his experience on the pages of his bestsellers. So what does Robert advise?

#1 Take control of your finances. Financial literacy of any person begins with control over personal cash flows. Keep records of your income and expenses. Take responsibility for your finances.

#2 Pay yourself first. Every time you bring home a salary, first distribute the money to your personal funds - “Health”, “Food”, etc., and then “Taxes”, “Utilities”. This is a subtle psychological moment: you show the Universe that you love yourself and respect your work and monetary reward.

#3 Spend money on assets, not liabilities. In his books, R. Kiyosaki strongly advises spending money on things that will bring you additional money - in essence, this is the process of investing. That is, shift the emphasis from consumer behavior to wiser behavior.

#4 Take advantage of crises. An economic downturn provides excellent opportunities to get rich. During a crisis, you can buy prime shares or real estate at a discount - provided, of course, that you have a sufficient amount of cash.

#5 Know the difference between bad and good debt. One of the most important lessons of financial literacy from R. Kiyosaki is understanding the essence of bad and good debt. An example of the first is a loan for vacation, household appliances, etc. A good debt, according to Kiyoaschi, is a loan for business development.

Thus, improving financial literacy today is not a difficult task. There are many useful resources available on the Internet, includingJ. K. Persy Blog) So go ahead, think, get rich! We wish you success!

What is the difference between rich and poor? According to statistics, it does not lie in the amount of money available, but in the level of financial literacy: if it is available, a poor person will very soon become rich. From this article you will learn how to explain this pattern, as well as ways and activities to improve financial literacy.

And if there is no financial literacy, then no matter how rich a person is, he will be forced to part with his fortune in a very short period of time.

Financial literacy is an understanding of how finances affect life. You can talk about financial processes in the life of an individual person, or you can consider them on a broader scale, and then we will talk about the mutual influence of the economy and the company, enterprise, region or state. There is also a global level at which the impact of macroeconomics on the state of the world as a whole can be considered. Financial literacy also means rational management of income and expenses, budget planning, etc.

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Among positive effects of improved literacy we can name the main ones:

• growth of the level of small business;
• increasing the citizen development index;
• improving the financial condition in society;
• eliminating stereotypes that limit people's thinking.

Basics of financial literacy

• The right approach to money.

This principle implies a completely new attitude towards money as a tool that can be managed. It includes the understanding that you are not dependent on money, but are able to direct its flow to benefit yourself and your fortune.

• Accounting and careful planning of your financial resources.

A prerequisite for achieving your financial goals (for example, accumulating a certain amount of money) is the presence of an individual financial plan. You can write it yourself or use the qualified help of specialists. Important conditions here will be the rational handling of income and expenses, as well as the correct formulation of the goal.

The ability to competently manage your cash flows is the basis for successfully accumulating funds to achieve your goals: acquiring material goods (a car, apartment, other real estate), creating capital (for starting a business or for the purpose of receiving interest) or savings for the future, as well as others financial tasks that are of great importance to you.

• Basics of cooperation with financial institutions.

Well-built relationships with banks, insurance companies, brokers and other participants in financial processes serve as a solid basis for improving your position. Modern wealthy people pay special attention to effective interaction with financial institutions, making the most of all the opportunities provided.

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Mastering financial literacy includes:

1. Contacting the services of a financial advisor. This will help you master cash flow management skills and will open up new opportunities and tools for you, the use of which will help you optimize your own financial processes.
2. Self-education. Get ready to independently acquire knowledge in the field of finance, surround yourself with information from various sources: books, magazines, specialized literature that will help expand your horizons on this topic, study useful Internet sites, choose courses, lectures and master classes that are related to problem of financial literacy, listen to the advice of those who have already become rich and successful. You will have to work hard to separate truly useful and necessary knowledge from the unnecessary information that is found at every turn today, but your efforts will not go unrewarded: persistent desire, supported by active steps towards increasing the level of financial literacy, will bring the desired results. Even if it is a journey of trial and error, you will eventually achieve financial independence.

Financial independence- a state in which you feel secure and free, devoting most of your life to life itself, and not to making money. You regularly receive financial income, which allows you not to worry about constantly looking for new opportunities to earn money.

Next financial literacy tools will help you achieve this state faster:

• Make acquaintance with someone who has already achieved success and become wealthy. Pay attention to the behavior and actions of such a person, ask him questions that interest you and ask for advice. There is nothing wrong with learning. Don't be shy about it. If there are no such people in your environment, find information about such people, study their biographies, read the books they write, follow their recommendations in the field of finance and financial literacy.

• Try to protect your financial resources, be careful about spending, carefully considering what exactly is behind each of your intentions to spend money: your personal desire or the desire to match someone. Listen to yourself, don't follow others' lead.
• Achieving your goals is directly related to what tools you use to achieve it. It is important to understand that the main one on the path to gaining financial independence is an individual financial plan. Do not spare your time and attention to carefully work with it. Contact financial advisors for help. Learn the intricacies of financial planning on your own. Psychologists have found that success and desired goals are achieved much faster by those people who carefully plan their lives: from small tasks for every day to serious goals for the months and years ahead. Become more collected and organized, fill your life with actions that will bring you closer to achieving financial literacy every day.
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The problem of financial literacy in Russia

According to experts in the field of finance, today there is a problem in Russia illusions of citizen awareness in financial matters. This is due to the huge amount of information that flows in an unlimited stream from radio and TV, newspaper columns and news reports, numerous interviews and discussions about futures and currency volatility with the participation of experts. Unfortunately, all this undermines the foundations of financial literacy, because people believe that they are already quite well informed. This illusion of awareness in solving financial issues is actually not supported by anything. People who are supposedly confident in their knowledge do not pay enough attention to details and neglect qualified assistance from specialists, which is why they can underestimate the risks of certain transactions, sign an unfavorable loan agreement for themselves, and fall into the hands of fraudsters.

In reality financial literacy of the population remains at an extremely low level. This is also explained historically: the participation of the state and the use of administrative resources in a market economy for a long time, the freezing of accounts during reforms, the 1998 crisis, the emergence of financial pyramids on the market. An important role in this case is played by a certain attitude towards money and wealth in the Russian Orthodox tradition: condemnation of greed and acquisitiveness as a grave sin, raising the image of a generous, silver-free person to the ideal. Literature and folklore are replete with examples of an irrational attitude to finance: Balda, working for clicks, lazy Emelya, lying on the stove.

The ABCs of financial literacy are best learned at the age of 24–35, those who actively use the Internet and strive for high incomes.

A quarter of all Russians have no idea what issues the Central Bank deals with, and every tenth does not distinguish it from Sberbank. Less than half of Russian citizens (45%) know what the insurance system is. The vast majority do not know how to properly make financial savings and investments; only a small part of people read literature on economics and are interested in improving their level of financial literacy. There is a lack of trust in the state financial system; the word “crisis” scares many people so much that people close their deposits. This behavior of citizens leads to a shortage of funds and the cessation of banks.

The financial market is developing at a rapid pace, creating conditions for the emergence of new companies providing relevant services and sellers with an unverified history and reputation. Illiteracy of people is reflected in the level of personal income and the state of the economy. Naive expectations of quick profits, rash decisions, debt on loans - due to such actions of unenlightened citizens, the market is filled with “low-quality” money. An increase in the number of such consumers reduces economic stability and contributes to the growth of dishonest competitors. Under such conditions, the market begins to “fever”, and there is a danger of the emergence of mass speculative and panic sentiments among the population.

The government today faces an important goal - increasing financial literacy of the population. This should help improve the situation in the credit market, create conditions for the emergence of a whole class of private investors by 2020, and teach people how to create a strategy for their future during retirement.

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How does a person with high financial literacy behave?

1. Maintains a balance between consumption and investment.

Ensuring yourself a decent standard of living now and at the same time investing financial resources in the capital of the future is not an easy task. If you concentrate on the tasks of the present day and spend the resources you have without worrying about creating a reserve for the future, there is a chance that you will end up in poverty in old age, receiving only a pension from the state, the size of which in our country leaves much to be desired. Being too afraid of a poor future and therefore denying yourself everything, saving as much money as possible “for later” is fraught with the fact that you will significantly reduce the quality of your life and will not accumulate good memories that will nourish you emotionally in that very future. It is important not to go to extremes, but to maintain a reasonable balance when managing your finances and planning a strategy for the future.

2. Manages personal finances effectively. Plans income and expenses in advance.

Today, there is no shortage of financial literacy programs that make it easier to manage your income and expenses. Once you master one of them, you can save all your cash flow data to your phone. This will take no more than two minutes a day. Another option, more reliable, for those who are in no hurry to trust such information to electronic programs is the Excel application for carrying out calculations and creating tables.

It is advisable to draw up a plan for upcoming expenses a month in advance and compare the expenses that you have budgeted for with the actual ones for the past month. All this will take you no more than 30 minutes a day, and the benefits will be enormous: you will see where you spend the most money and will be able to adjust your expenses in the future accordingly.

3. Sets clear financial goals and successfully achieves them.

What is the difference between a dream and a goal? A goal is a specifically formulated dream that has clear deadlines for achievement and priority over other, less important desires. A goal, unlike a dream, has many parameters that give it greater certainty. For example, the dream will sound like this: “I would like to live by the sea.” The goal will be formulated as follows: “In 15 years, I plan to purchase a three-story cottage with an area of ​​200 square meters. meters with an adjacent garden and garage 150 meters from the sea, on the Croatian coast, worth 250 thousand dollars.”

All that remains is to take real steps towards our financial goal: earn enough to save $598 every month and invest this amount in the stock market with an annual return of 10%, and in 15 years we will be in able to buy a coastal cottage for 250 thousand dollars.

4. Plans his future 10-20-50 years in advance and follows a personal financial plan.

A personal financial plan (LPP) is a reliable assistant in achieving your financial goals. Anyone who has it and follows it will undoubtedly achieve the desired financial well-being. There are several stages work with LFP:

• Conducting an analysis of the current state and assessing income and expenses, assets and liabilities.
• Formulation of goals and description of specific steps to achieve them.
• The right choice of financial instruments for each purpose.
• Implementation of the plan.
• Regular (at least once a year) analysis of progress towards the goal and adjustment of the plan in accordance with the real state of affairs.

5. Uses various financial instruments to achieve various goals.

Today, each of us has a choice from a huge variety of financial instruments. They differ from each other in their parameters: profitability, reliability, stability, liquidity, recommended investment period, entry thresholds, etc.

It is necessary to take into account the suitability of financial objectives and the choice of instruments for them: long-term instruments are not suitable for solving short-term problems. Buying an apartment or investing money in shares of a company will not help if you need money in the next three months. For this case, a financial instrument such as a bank deposit is much better suited, since it will be the most liquid.

6. Has several sources of income.

If a person receives all the resources necessary for life from just one source, then this implies a rather serious risk, which is doubly amplified if the entire family depends on a single source of income. When it has several sources of financial inflow, its members will feel much more confident and the overall budget will be more stable.

People who are financially literate strive to have at least one additional source of income every year.

In addition, it is important to be able to find the information you need and use it to the maximum benefit for yourself.

7. Makes a rational choice of financial services.

To avoid losing your money as deposits or investments, it is important to check the reliability of financial institutions.

8. It has its own reserve fund - a “safety cushion” (in case of unforeseen circumstances).

If you have accumulated a reserve fund, then you will not be afraid of such unforeseen situations as a long illness or layoff in the service. Apply this very important principle of financial literacy, and then you will be insured against life's troubles.

9. Knows how the rights of consumers of financial services are protected.

This means that in the event of a violation of his rights in the financial market, a person is aware of what to do and where to go to protect himself.

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Myths of financial literacy

An economically independent person is able to:

• control the movement of your finances;
• organize his own business that will generate income for him; work for hire, as well as use other types of financial support;
• objectively evaluate and competently plan expenses not only for individuals, but also for your entire family, understand the situation on the financial market, engage in its research, master several different types (at least three) of distributing your financial resources for savings and expenses;
• carry out a competent and informed choice of financial institutions and partners for cooperation, give a critical assessment of the offers and services of the financial sector;
• it is reasonable to enter into credit relationships, use a business model to calculate the economic balance of your business;
• maintain a distance between own and production costs;
• be able to use financial instruments for investment, taking care not only of one’s own interests, but also of one’s business;
• engage in charitable activities in order to advertise oneself as a wealthy person, carefully approach the choice of forms and types of charity;
• use tools to insure your actions with personal financial assets and those related to the budget of your business, do not get involved in financial scams and money pyramids;
• take actions to reduce the risk of suffering from virtual fraudsters, quickly and efficiently conduct electronic financial transactions.

What's really happening? Today, it is difficult to give an unambiguous answer to the question of what level of financial literacy the residents of Russia have. Expert estimates vary quite a bit. There is an opinion that things in Russia are not so bad with financial literacy and Russians in general are able to competently manage their finances. And there are also frankly pessimistic opinions about the overwhelming majority of Russian citizens who do not have a minimum level of knowledge in this area.

The results of statistical studies on the topic of financial literacy of Russians are disappointing. Only 2% of all Russian residents consider themselves financially literate and believe that they are well versed in this area. 11% called their knowledge of such issues good, less than half of the respondents (38%) - satisfactory. 32% of Russians rated their level of financial literacy as unsatisfactory, and 18% of respondents admitted that they do not have any knowledge or skills in this area.

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How to improve financial literacy: 4 simple ways

1. Read feature articles.

Regularly familiarizing yourself with the blogs of financially literate people will not take much time. In their articles they share the secrets of success. Spending a few minutes a day reading can give you valuable money tips.

2. Play games that develop financial literacy.

The game form is one of the most effective for the development of financial literacy. Today, there is a huge selection of different business games that develop skills in competent handling of financial resources (from planning personal expenses to making large investments). Thanks to this opportunity, you can not only get acquainted with the basics of financial literacy, but also try out various ideas and strategies in action and see how effective they are. A huge advantage of the game is that if you make a mistake, you will not suffer financial losses, but at the same time you will gain the necessary knowledge and useful experience.

3. Attend seminars, webinars and courses to improve your financial literacy.

You should be wary of overwhelming invitations to financial literacy events. Try to choose from existing courses and trainings those that will bring maximum benefit, and will not be aimed at making you their client or persuading you to purchase the services they offer. Pay attention to the courses offered by independent financial experts and various universities; most often they provide high-quality and useful information.

4. Develop good financial habits.

Sometimes just a few consciously acquired skills can be the beginning of big changes in your financial life. Remember and adopt these 4 good habits:

• Do not enter into debt and credit relationships - live in accordance with your income.
• Make a rough spending plan for the coming month in advance. Record all income and expenses.
• Train yourself to save about 10% of your income each time.
• Listen to the advice of a financial advisor if you decide to invest money in any investment project.

Expert opinion

Increasing literacy and knowledge in the modern world is not difficult

Alexander Merenkov,

General Director of the company "Northern Treasury", Yekaterinburg

I believe that a good leader must be able to formulate goals for himself and his team, plan the company’s activities, find resources to fulfill assigned tasks, motivate employees, and monitor results.

This requires you to have knowledge in the field of working with personnel, project management, finance, expenses, logistics, and risks. It is also necessary to be a professional in the field of economics and marketing, sales organization and negotiations, presentations and conflict resolution.

You can acquire the necessary knowledge in different ways:

Get additional higher education. If we take into account the professional areas I have listed, then it would be reasonable to get a second higher education in one of the areas (given in descending order, starting with the most important): financial, economic, legal, psychological.

Get trained in short-term programs. I think training on the following topics would be useful: balanced scorecard, theory of systems constraints, theories of working with different personality types, risk management, decision making, time management, negotiation and conflict resolution, presentation art.

I gained knowledge in all of the listed programs, including training abroad.

Another good way to improve your skills is to use the services of a coach from among professional businessmen. You can find at least one experienced and wealthy person from the business environment who will be ready to pass on their knowledge and experience to you, allow you to participate in conferences, and introduce you to business and industry media (paper or electronic).

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1. Train yourself to earn more than you spend. When this rule becomes firmly established in your life and you realize its value, it will bring you much closer to achieving financial independence. The sooner you start putting this rule into practice, the better.
2. Pay off all your debts and do not enter into new credit obligations. You should not borrow money or take out a loan even to invest it. If you work to cover your debt, you will not be able to make a profit.
3. It is important to work with goals that correspond to your actual financial situation and an adequate time frame for achieving them. Rational planning based on the real state of affairs is many times more effective than spontaneously realizing your dreams.
4. Try to protect yourself from poverty and destitution with the help of an emergency fund. This will make it easier for you to cope with life’s difficulties without getting into a difficult financial situation. Anyone who has gone from poverty to wealth knows what a huge price one has to pay to achieve wealth, once losing it.
5. To create capital, use available funds, the loss of which will not cause you significant damage. Especially when it comes to aggressive investments.
6. Minimize the risk of losing funds by diversifying them: when creating active and passive sources of income, try to distribute them in different directions. If all your sources of income are concentrated in one area, there is a high risk of losing everything.
7. Keep track of your financial plan. If it diverges from real indicators, adjust your behavior, critically examine your expenses, and get rid of unnecessary ones.
8. Use all possible tools to create capital and manage your funds. An integrated approach and the use of a variety of methods will help create sources of passive income, which will bring you closer to financial independence.

Expert opinion

The most important thing is to clearly understand what you want to learn

Vadim Galtsov,

General Director of the company "Gikom", Krasnodar

I give preference to those courses and trainings where you can gain practical knowledge. First I always analyze each program. I listen to those who inspire my trust, have a similar level of education and skills, and who have approximately the same selection criteria as me. The most important thing is a clear understanding of what you want to get from training. Otherwise, the quality of the training and information provided to you will be high, but you will not be able to use it effectively in your life.

Real experience has shown me that practice is much more useful than any theory. At the age of 19, I had to accompany my father on a business trip to Russia. I remember it because it became a very good lesson for me. We visited different cities to study enterprises and the market, as well as search for distributors of dairy products. We had to look for partners through supermarkets, since the Internet was not so well developed in 2003. It happened that in a day we traveled around two large regional centers and held many meetings and negotiations. In total, we visited 12 cities and held 50 meetings with partners, which became an irreplaceable experience for me. I organized my next business trip completely on my own, where the knowledge I had previously acquired was useful. This is very important: not only to gain experience, but also to immediately put it into action.

I advise you not to concentrate exclusively on business seminars; personal growth trainings can bring equally important benefits. A modern manager is not just a formal boss, but also a leader, a generator of ideas, an inspirer for his team. This is also a skill that needs to be learned.

The best books on financial literacy: 10 bestsellers

• Bodo Schaefer "The Path to Financial Freedom"

The author of this book is sure that the rich and the poor differ, first of all, in their way of thinking, and not in the amount of accumulated funds. Bodo Schaefer will help you determine which psychological type you are and tell you how to learn to think like the rich do. You will learn how you can get rich using various financial instruments, for example, bank deposits, joint-stock funds, and stock games. In the book you will also find many interesting examples from life, real stories and even parables. Bodo Schaefer is a business coach himself and is well versed in the psychology of success.

• Robert Kiyosaki, Sharon Lechter "Cash Flow Quadrant"

The authors share with us the secrets of the distribution of global capital. You will learn how a businessman differs from an employee, why some investors remain unsuccessful, while others increase their wealth, which forces some to constantly change jobs, while others create their own business. In this book you can also find little secrets that will help you not get lost in the constantly changing financial environment. The Cash Flow Quadrant is suitable for anyone who wants serious changes and wants to find their place in modern society.

• George Clason "The Richest Man in Babylon"

The book will be of particular interest to all young people who need to learn to understand how money works, as well as understand its value. The action takes place in an ancient state. After reading “The Richest Man in Babylon,” you will see that over the past 8 thousand years, people’s financial relationships have not undergone many changes: all the same IOUs, gambling, trading, investing, founding. The laws according to which the circulation of finance occurs do not change. Despite the fact that the book itself was written back in 1926, the system proposed by the author remains effective. You will see this by putting George Clason's advice into practice.

• Donald Trump "The Art of the Deal"

The book consists of Donald Trump's stories about his real estate transactions, relationships with his business partners, connections with representatives of big business and interaction with the government. Perhaps real estate information will not be as useful due to the fact that the American market is too different from ours. But the book is very interesting, first of all, because it provides recommendations for action on the path to your dream, confirmed by the experience of the author himself. It is worth observing the train of thought of a man who has achieved so much.

• Laura Rittenhouse “Buffett for investors. A Guide to Warren Buffett's Correspondence with Berksh Shareholders"

This book was written by an investment genius who has made billions of dollars for his investors. Warren Buffett is one of the most powerful financiers in the world. The book contains letters that Buffett wrote to his financial advisors from the early 70s. They contained stock market news, as well as many secrets of successful investing and valuable advice. In the messages of the financial genius of our time, one can discern many details that allow us to judge the character traits and habits of the billionaire. Investors trust Buffett with their money without the slightest doubt, because company shares are his family capital. Warren Buffett has an impeccable reputation, which allows him to make deals for huge amounts. A talented financier always keeps his word, all his contracts are formalized, investors do not doubt the integrity of this person. Buffett's letters are so interesting that they will captivate even a reader who has nothing to do with the world of investments and finance.

• Vladimir Savenok “A million for my daughter. Step-by-step savings plan. Natural laws in business"

An excellent book for those who like not only to receive advice, but also to immediately put it into practice. Vladimir Savenok invites such readers to begin drawing up their own business plan for future capital right while studying it. The book contains tables that the reader can fill out immediately, and provides step-by-step instructions for those who are serious about saving a million dollars: where to start, what tools to use, how not to lose what they have already accumulated. The main idea of ​​the book is to create capital for the future to provide for children. This approach will be of interest to many, but mainly, of course, to parents.

• Andrey Paranich “Personal financial plan. Instructions for compilation"

Financial literacy involves skillful planning of money matters. You need to be aware of how and what you spend money on, what your income is, know how to calculate the expenditure of the budget so as not to be left without a livelihood, not to fall into a hole of debt, be able to accumulate money, clearly determine at what it is the amount that will make you feel confident. Andrey Paranich examines problems that are relevant to everyone. After reading this book, you will learn how to create a personal financial plan and properly allocate funds.

• Daniel Goldie, Gordon Murray "Investment Response. How to protect your financial future"

Goldie and Murray's book is addressed to novice investors and everyone who seeks knowledge in this area. It is written in simple and accessible language, so when reading it you do not need to master professional terminology and use dictionaries to penetrate secret knowledge. The authors understand that the most important thing for almost everyone is preserving and increasing their money. But not everyone is able to understand the many investment options, decide on investments and the risks associated with them, purchase securities and make a profit from it. The book will help you understand the basic laws of money movement and teach the reader to be more confident in handling finances.

• Dmitry Konash “Save and increase. How to manage your savings wisely and profitably"

Dmitry Konash is a regional manager for Intel Corporation in the CIS with 20 years of experience, advising on the creation of an investment portfolio. His path to financial success was not smooth sailing. However, the experience of mistakes and losses is also valuable. The author shares his opinion on investing in modern conditions.

Dmitry Konash helps you understand how to build your investment portfolio and what can help you save and increase your investments. For novice investors, the book will be a useful theory and collection of valuable advice, and for financial specialists and experienced investors a good opportunity to expand their experience.

• Konstantin Baksht “Taste of life. How to achieve success, financial freedom and control your destiny"

With the help of money, the freedom that we dream about so much becomes possible: when the onset of old age and illness is not scary, when we relax where we dream, and when we want it, when our children receive a good education. It is important not to miss the moment of enjoying life in pursuit of fortune. It seems that Konstantin Baksht has already figured out how to gain financial independence in a few years. If you are also interested in learning about this, discover “The Taste of Life...”.

Economics, finance, accounting, taxes - for many, these are complex and unfamiliar concepts that need to be studied for many years. On the other hand, financial literacy is a means of controlling personal income and expenses, the ability to manage money profitably and reach a new level of material well-being. Success is achieved by those who have mastered the art of not only earning money, but planning their expenses and investments. This can be learned in a few months and then applied for the rest of your life.

What is financial literacy

According to the famous business coach Robert Kiyosaki, economic literacy should include:

• knowledge of the basics of tax legislation;
• ability to use and understand accounting;
• ability to create a simple financial plan;
• have an idea of ​​what money is and how to work with it.

Don’t think that it will take a lot of time to learn this, it’s a matter of several weeks. The main thing is to understand that this is necessary for your own success and to apply the basics of economic literacy in practice. Those who work and constantly strive to implement new useful skills are successful.

The importance of financial literacy for a modern person

Many people believe that if they are not professional economists and accountants, then they do not need to have knowledge of economics. Such illiteracy can lead to dire consequences:

• making decisions that are detrimental to well-being;
• taking ill-considered loans, participating in pyramid schemes;
• ineffective investments, including pensions;
• inability to take advantage of the investment and financial market as a tool for enrichment;
• reduction in personal earnings.

Who needs the ABCs of finance

A successful population is the key to a country’s well-being. The ABC of finance is needed not only by ordinary people; the state will only benefit if people learn to properly distribute their finances and use all opportunities to achieve success. A high level of knowledge in the field of economics and finance leads to increased involvement of the population in consumption, which leads to sustainable economic growth. Increasing material well-being increases the investment opportunities of citizens, which leads to the development of banking structures and the overall standard of living in the state.

The main thing is that financial literacy is needed by the person himself. Understanding the process of saving money, creating passive income, managing expenses - all this will help increase your savings. Do not forget about the regulatory framework; an economically savvy person always pays taxes on time, which makes him a law-abiding and successful citizen.

What does it mean to be financially literate?

It is interesting that government agencies, based on numerous studies, have already compiled a generalized portrait of an economically literate person. So he:

• maintains written or electronic records of income or expenses;
• lives within his means, does not take frivolous loans;
• knows where to look for the necessary information on economic issues;
• before investing money, studies all options and checks them for reliability;
• saves for a “rainy day”, the so-called airbag in case of illness, job loss, force majeure.

How to learn financial literacy

Don’t think that financial literacy is simply the ability to count money and save every month from your salary. This is a broader concept that includes knowledge of the basics of macro and microeconomics, possession of information about credit institutions, the ability to set strategic goals and successfully implement them. Studying the biographies of successful people and their personal successful experiences will be beneficial.

There are several ways to learn this:

• independent study of works on economics and finance;
• obtaining information about the current situation in the country, changes in Russian legislation;
• self-control of income and expenses using specialized programs;
• studying books and video courses on personal economic literacy,
• Attending lectures and classes to improve personal economic literacy.

Where to start

You always need to start from the beginning, and in this case, by changing your attitude towards money. The vast majority of people treat them as a means to buy food, clothing, cars, and real estate. Consumer psychology does not lead to success; it turns out that money is earned in order to spend it. You need to break this vicious circle and go beyond ordinary instincts, make your own funds work for your success.

Basics of financial literacy at school

The state understands that its well-being depends on the economic literacy of the population, and already in 2019 it is introducing the subject “Fundamentals of Economic Literacy” into the federal school curriculum, as part of the subject “Social Studies.” Schoolchildren will gain basic knowledge in lessons on investing, interaction with credit institutions, strategic planning and generating passive income. Perhaps in the near future, children will teach their parents how to properly manage their own funds.

How to improve financial literacy

Study, study and study again - regardless of the attitude towards the author’s personality, this statement is 100% true. Without additional knowledge, you will not be able to improve your financial education. Various books, seminars, business press, video courses, webinars - now there are hundreds of them, if not more. Absorb new information, but question everything, because in practice everything will be done with your own funds, do not forget about your own experience and common sense.

Books on economics and finance

Literature is one of the most effective ways to learn new information. Some authors conduct detailed research on the topic of profitable investments and increasing personal income, others talk about their own experience:

• Robert Kiyosaki "Rich Dad Poor Dad";
• Napoleon Hill "Think and Grow Rich";
• T. Harv Eker “Think Like a Millionaire”;
• George S. Cason, "The Richest Man in Babylon";
• Bodo Schaefer "The Path to Financial Freedom";
• Vicky Robin, Joe Dominguez "Trick or Treat"
• Alexey Gerasimov “Financial Diary”;
• Ron Lieber "Unspoiled"

Seminars and trainings

There are more than a hundred different seminars and trainings that will help you feel confident in the world of economics and improve your quality of life:

1. Online course from Robert Kiyosaki. It is clear that the training is not conducted by the author himself, but by his certified students, for example, Sulev Pikker, Ilya Brusnitsky.
2. Course from TopTrening Group Personal financial plan. Increasing economic literacy.
3. Economic literacy training from Mikhail Korde. And at a symbolic cost.
4. Economic literacy training from the state program “Genius of Life”.

Financial literacy in life

The good thing about applying the basics of economic literacy in practice is that it is not necessary to completely change your lifestyle, quit your job and become an entrepreneur. Financial literacy teaches you how to make money from your assets, as well as correctly distribute finances, without interrupting your main activity.

Relationships with banks

Many of us forget that financial companies themselves are interested in literate and economically savvy clients. There is an opinion that the bank just wants to deceive and sign for a loan that is profitable for it, but large credit institutions do not practice this. What is important to them is long-term, mutually beneficial and comfortable relationships with specific clients, who will not only be serviced by the bank themselves, but will also recommend it to their acquaintances and friends. As economic literacy increases, the fact is realized that the bank is not an enemy of savings, but a partner with whom one can increase capital.

Personal finance planning

There are a lot of programs that help you keep track of your personal income; choose one to suit your taste. Another thing is that they all have common principles that will help you better understand your tools:

• checking income and expenses;
• cutting off unnecessary spending;
• designation of basic expenses (rent, food, basic necessities, birthday gifts, if any);
• distribution of funds;
• saving some money for investments.

Control of income and expenses

The main rule for accounting for expenses and income is regularity. This needs to be done every day, making it a habit to record the exact amounts of spending. The most convenient way to do this is with mobile applications, here are the most popular ones;

• "Daily expenses";
• "AndroMoney";
• "Money Manager";
• "Toshl Finance";
• "FinancePM";
• “Wallet – finance and budget”
• "MoneyFy"

How to learn to save and save

It is clear that the best way to manage your money wisely is to earn more than you spend. For many, this is an impossible task; the person himself cannot understand where his money went. The most effective way to control this is to record and analyze all expenses without exception. Another interesting point is bank cards, from which money often leaves faster than we would like. Try to take only a certain amount of cash with you, and leave the card at home.

Financial assets and liabilities

This concept was proposed by Robert Kiyosaki, already mentioned above. So, a financial asset is earned money that you can put in your pocket or use it to generate passive income, for example, investing in stocks or bank deposits. Liability requires constant investments (loans, taxes, payment for housing, schools, hobbies, etc.). The ability to correctly distribute earned money between liabilities and assets helps you manage your income and make money on it.

How to create passive income

Another definition of passive income is investment, investing money in a certain field of activity with the aim of making a profit. It does not depend on work activity; the main thing is to find where to invest funds. Don’t forget about the main rule of investing – there should be several sources of passive income, don’t put all your eggs in one basket.

Examples of placing money to generate passive income:

• bank deposit - the higher the deposit amount, the more profitable the annuity;
• buying shares, playing on the stock exchange, do not forget about diversifying your investment portfolio.
• income from advertising on your own website;
• investments in commercial and residential real estate;
• investing money in a business (own or partner);
• creating copyrighted programs, applications, books and receiving dividends from them.

Diversification of investments

The term "Diversification" means taking profits from investments from different sources to reduce the risk of losing money. Experts do not recommend directing cash flows to one area, for example, the purchase of shares or real estate, in order to ensure the safety of funds. It is better to adhere to the principle of diversification - if you purchase shares, then high-yield ones can make up no more than half of the investment portfolio, the rest is better to direct to more reliable mutual funds, shares with minimal profitability.

Financial literacy- this is a person’s ability to manage his own and borrowed funds. At a higher level, it also includes interaction with banks and credit organizations, the use of effective monetary instruments, and a sober assessment of the economic situation of one’s region and the entire country.

Possession basics of financial literacy allows you to set realistic goals and confidently move towards achieving them. The current level of wealth requires updating your knowledge in the field of money management in order to simply save what you have earned. For increase in wealth It is necessary to constantly introduce new tools for generating income.

Components of money management

Money management occurs at several levels. This is the management of actually available funds, planning of future income and expenses, using loans, launching new sources of income, investing. The more instruments are involved in circulation, the greater the chances of creating a powerful cash flow.

Disposal of own funds

• money saved = money earned

Treat your earnings not from a consumer perspective, but from a management point of view. They can be turned into a flexible tool for generating additional income. A safety net in the form of an amount equal to six months of expenses gives confidence in the future and allows you to boldly start a new business.

Financial planning and accounting

Planning takes your future income and expenses. It is important to plan a personal or family budget in order to prevent the funds you earn from being spent too quickly, and also to be able to accumulate them. Accounting allows you to correctly calculate your strength if you want to buy something expensive.

Use of borrowed funds

Learn the difference between “bad debt” and “good debt.”

Financial Literacy Considers relationship with banks, as an important aspect of personal well-being. Banks offer a range of services for the accumulation and storage of funds and the issuance of loans. The better your credit history, the more convenient the terms of cooperation will be.

• borrow other people's money, give yours
• CREDIT (translated from English) - debt

It is worth borrowing money from outside only if you invest it in more profitable enterprises. This is convenient when large funds are needed at the beginning, but the income from their use will cover the cost of servicing the debt. If you take out a large amount at high interest rates to buy a luxury item, your financial literacy is not up to par.

Search for sources of income

For most people, their main source of income is their job - and it is the most ineffective. Modern realities offer a large number of alternative options. In addition to your salary, you can receive passive income, or build own business. Having multiple sources of income reduces the risk of money problems.

• own business is the door to a new world of limitless possibilities

The skills to build a profitable business remove the limits of possible income. Correctly configured processes bring money at any time, whether you are resting or working. Moreover, the business develops even without your direct participation.

Investment

Investment is the blood supply to the economy of any state. If residents and foreign citizens actively invest, the state develops quickly and ensures the well-being of its citizens. This is financial literacy of the highest level, often extending beyond the borders of one country.

Investment skills provide an understanding of how to properly use your own and borrowed funds in order to receive significant profits in the future. A sophisticated investor achieves his goals using virtually no personal funds, minimizing possible risks.

World of business and investment

Mastering the skills of building a business and investing helps you break out of the vicious circle of financial problems. This is a different reality, but you can get into it if you follow certain rules. By taking responsibility for your life and managing risks, you can achieve significant success in managing your money.

By remaining in the reality of living on a salary and pension, you set your own ceiling personal financial literacy. Transforming your mindset towards entrepreneurship is painful, but vital to improving your quality of life. The child does not stop learning to walk, even after a dozen falls. So why do we stop ourselves from developing when we start working?

In the information age, knowledge in the field of money management has become publicly available. To improve financial literacy, you can use different methods:

• independent education
• special courses
• personal consultant

Self-education

There are many resources on the Internet that publish articles on the topic of money management. Books are a good source of financial knowledge. Self-education requires serious effort and time. Personal experience has the highest value, so there is no need to be afraid of mistakes along the way. Correct conclusions will teach you to achieve new results with less losses.

Financial literacy courses

Paid seminars allow you to master the skills of a narrow topic in a short time to achieve practical results. It is important to understand that you have to pay for good knowledge. By paying once, you acquire an income-generating tool that will subsequently pay for itself many times over.

You can also find free courses, but the value of such training is questionable. More often, free courses offered by those organizations that aim to attract listeners to their ranks or make your clients. They also talk about the importance of financial independence, but they don’t always mean your independence.

Information business - many good and bad opinions are associated with this concept. We believe that in each case the outcome will depend on your personal context. If you are not looking for manna from heaven or a field of miracles, then you will find something useful for yourself in any training. The best trainer cannot simultaneously be the best businessman in another field, because... his business is teaching other people how to make money. Most of the time is spent on improving the skills of a coach. When choosing a trainer, look not at his business, but at the audience being trained, at the success of his graduates.

Personal financial advisor

A personal financial consultant is one of the most effective options for improving your own literacy, as he will always answer the necessary questions and tell you what to do. A recognized specialist costs a lot of money, but the practical benefits of his services are always higher than the costs. All wealthy people have a staff of the best specialists in their field, including in the field of resource management. You don’t have to hire such a person on staff; a monthly one-time consultation will be enough to get started.

General recommendation for those who want to financial literacy has increased - don’t look for easy ways and free advice. This is the bait that most people fall for. View all learning through the lens personal growth and creation own systems receiving income.

Financial literacy of the population

In many developed countries, financial literacy of the population is a targeted government policy, for which considerable funds are allocated. As surveys and studies show, even among the population of economically developed countries with long traditions, such as the USA, Japan, Great Britain, France, Germany, Switzerland and others, money management skills are at a fairly low level. In developing countries this level is even lower.

Vivid proof is the report of the Global Center financial literacy research. Among people under 35, only 38% of American men and 22% of American women were able to obtain a perfect score on the test. Among people over 35, the numbers were even lower, with only 26% of American men and 12% of American women receiving the highest score.

In Russia the quantity relatively literate in terms of money management of the population is 38%. In the EU countries and the USA this figure is at the level of 50-60%.

What is the reason for such low indicators? First of all, this lack of financial literacy lessons at a school desk. There is not a single subject at school that is devoted to this important topic. We also note the weak performance of government programs in this area. Thirdly, this is general reluctance of the population deal with the management of your own funds. Talking about money makes people feel sad and want to quickly change the topic.

1. Not taught in school
2. Weak performance of government programs
3. Reluctance of the population

One can trace such an alarming trend as the state’s disinterest in such education of its citizens. State corporations in conjunction with commercial structures are increasingly directing their efforts to raising a generation of consumers than self-sufficient residents of the country. talks about the introduction of so-called financial literacy lessons in Russian schools. In these lessons, among other things, children will be taught how to take out loans correctly.

No one will make you rich except yourself. To take control of money into your own hands, you must first of all take full responsibility for your life and the lives of your loved ones. The first step to a prosperous life is to draw up personal financial plan.

This is an instruction that helps a person achieve his goals in money management. It takes into account all cash flows, actual and expected: increasing income, saving, spending and investing funds.

Such a plan is necessary for every person, regardless of income level. It is a mistake to think that only those who have money need it. On the contrary, money appears from those who have learned correctly plan income and expenses. Buying an apartment, car and other expensive items requires thorough and thoughtful use of financial instruments.

A personal financial plan includes the following components:

• step-by-step achievement of the task, taking into account real time costs;
• use of investment products, calculation of probable risks, timing, and amount of income received;
• insurance investment plan, taking into account risks, timing and necessary funds;
• use of borrowed funds, taking into account their repayment terms and cost of servicing

Allows you to select the most suitable configuration of investment, insurance, pension and credit products, which will lead to the goal within the specified time frame or even faster than expected. Any planning is not ideal; on the way to the goal, new circumstances always arise that hinder or accompany the achievement of what is planned. Therefore, it is necessary to periodically adjust your goals.

Basic rules of financial literacy

Finally, here are a few basic rules of financial literacy, which will tell you which direction to follow in order to understand your resources and establish effective money management.

Earn more than you spend

One of the most important rules of any economy is that you need to earn more than you spend. If you don't follow it, debts quickly accumulate and life becomes significantly more complicated. Instead of investing available funds, the debtor is forced to spend time of his life covering obligations and expenses for servicing loans.

This basic rule seems obvious, but not everyone is able to follow it. It doesn’t matter how much money a person earns if he systematically upsets the income-expenses balance towards costs. This is a fundamental mental attitude from the field that distinguishes wealthy people from poor people. A financially literate person follows the attitude “in order to spend more, you must first increase your income.”

Setting realistic goals

Dreams are necessary for people; they emotionally motivate us to work on ourselves and earn more. Each dream can and should be specified for a finite number of realistically achievable goals. Correlating your capabilities with specific actions within a set time frame allows you to subjugate almost any goal and make your dream a reality.

Real the goal sets the direction actions. This is a guideline that allows you to weed out unnecessary things. What does not lead to the goal is not worth spending time and money on. Otherwise, at best, you will mark time, at worst, you will move away from what you planned. Spontaneous spending, as a result of unclear aspirations, can wipe out months and even years of life.

Airbag

It is necessary to have the so-called cash airbag, which can be used in the event of loss of basic income. Set aside 10% of your monthly income in a personal savings fund until the figure reaches 6 months of expenses. These funds can be kept in a closet or made a deposit in a large bank, with the possibility of early withdrawal without loss of interest.

These funds should not be considered as a source of investment and should not be expected to yield high returns. It will be enough that the interest on the deposit will partially cover inflation. With such a cushion, you won't have to go into debt. There will be time to calmly establish a new source of income and survive difficult times with minimal losses.

New sources of income

Try to have several sources of income, as this will allow you to diversify your risks. The best type of income is passive - it brings money at any time, even when you are not working. Types of income that are available to everyone: earned, passive and portfolio. Wealthy people tend to have all three types of income.

Building a personal financial plan

Have personal financial plan, designed for at least the next 5-10 years. Don’t forget to adjust it if the situation changes, if the need arises. All wealthy people have such a plan. Accordingly, you simply cannot achieve success by ignoring this need.

Reasonable savings

Whatever your level of income, reasonable savings are always appropriate when shopping. Of course, we must avoid extremes - you can spend a lot of time trying to buy everything at a discount. Isn't it better to invest this same time in earning even more? Smart economy indicates that a person really knows the value of money.

Poor people and the middle class are being held captive by marketers. It seems to them that having expensive things somehow brings them closer to high society. In fact, the ability to find a good thing at a reasonable price is an important skill for gaining financial independence. Ability to bargain and get discounts does not humiliate a person at all, but indicates his high leadership qualities. Truly rich people buy luxury goods last, when their income level more than covers these expenses.

Increasing the value of time

Be respectful of your own time. You can always calculate how much an hour of your work costs. Try to keep this value constantly growing. Keeping this parameter in mind, you will no longer want to waste your life on empty activities. Earned income has its limits. Hiring employees can increase the value of your time endlessly.

Changing the environment

Calculate the average income of the 10 people with whom you communicate most - this will be your financial ceiling. Without changing your environment, you have virtually no chance of increasing this number. You need to become that fresh cucumber who puts itself in a jar of pickles so that over time you can become the same. If you continue to lie in clean water, you will certainly become faint.

Try to meet a rich person who was able to build a business. To do this, you will have to make an effort to make such a person interested in talking to you. His advice, behavior, attitude towards money can significantly advance you on the path to financial independence. In this context, you can participate in one of his projects for free. The experience gained will be many times more expensive than the possible salary.

Development of financial intelligence

Never stop at development of financial intelligence. The more time you devote to mastering this issue, the higher your income will be and the more free time you will have for yourself and your family. Those who work hard for a salary are lazy people in the bad sense of the word. Instead of working with their heads, they prefer to spend all their energy repeating the same mistakes throughout their lives. Become lazy in a good way - make your income such that you don't have to work hard until retirement and then barely make ends meet.

Ecology of consumption. Business: As a rule, one comes to financial literacy through a huge number of mistakes and trials, gradually gaining experience...

By managing your finances wisely, you can not only significantly reduce expenses, but also significantly increase the thickness of your wallet. As a rule, one comes to financial literacy through a huge number of mistakes and trials, gradually gaining experience and ignoring the wise advice of financiers.

Here are a few key points to consider on your path to financial literacy.

1. "Airbag"

The overwhelming majority of people believe that any savings are completely useless: you will lose everything anyway, so why save if you can spend everything now and buy some necessary thing?

Perhaps, for a specific moment in life, this decision may seem correct, but after some time you may need a certain amount for unforeseen expenses: minor repairs in the office, increased prices from suppliers, etc.

How to pay these expenses if there are no savings at all? The loan may not be issued, and it often takes several days or even weeks to receive it, and you may not have this time.

That is why it is important to remember the first rule: You should always have savings of 3-6 monthly expenses for emergencies.

2. Savings “under the mattress” instead of a bank

In Russia, less than 50% of the population uses bank deposits and up to 5% are investors in the stock market. And all for the reason that few people trust any financial instruments, preferring to keep their savings at home under a pillow/mattress/bedside table, etc.

In fact, this type of “investment” provides a guaranteed income of minus 10-13% per annum! The reason is simple: inflation. So, your today's 500 thousand rubles, put in the nightstand, in 5 years will turn into 310 thousand rubles. with inflation of 10% per year.

Therefore, rule two: you should not store your savings in the nightstand - it is better to place them at least in a bank deposit to save them from inflation. Are you afraid of bank bankruptcy? Please note that when placing in one bank up to 700 thousand rubles. if his license is revoked, you are guaranteed to return your deposit safe and sound thanks to the deposit insurance system.

3. Incorrect loan parameters

Having decided to take bank loan, it is important to remember that it must be in the currency in which you receive your profit. Most often these are rubles. If you succumb to the temptation to take out a loan in foreign currency at a lower rate, you can then see an increase in your monthly loan payments by 30-50% due to the fall in the ruble exchange rate.

Not to be too big: take a loan not “with a reserve” just in case, but exactly for the amount that you need. Please note that if you take an extra 50 thousand rubles. on credit, you will have to repay the bank 75 thousand or more.

Therefore, it is better to take out a loan in rubles, for the most necessary amount and for the minimum period, so that the loan payment is up to 20-30% of your income.

4. Investments without a deadline

It is impossible to invest wisely if you do not know for what specific purpose it is being done. At the same time, “earning money” is not the goal. The goal must have a deadline, cost, and priority. Only by clearly defining it can you competently select the right investment instruments for you.

So, if you are investing with the goal of saving up for some important goal in 1-3 years, then it is better to prefer bank deposits and highly reliable bonds or bond funds.

If we are talking about a goal in 3-10 years, then, in addition to deposits and bonds, you can add up to 50% of stocks or equity funds to your portfolio. Well, if you invest for 10 years or more, then you can increase the share of shares to 70-80%.

5. Take smart risks

If your colleague or neighbor invests in stocks and enjoys returns of 20% per annum or more, this does not mean that you urgently need to buy them. The fact is that each person has his own level of risk appetite. And if your neighbor is sometimes ready to tolerate a drop in the value of his shares of up to 50%, then you may not be ready for this, you will sell shares at just the most inopportune moment, receive losses and be disappointed in your investment.

That's why It is very important to correctly determine your risk appetite: If you are not prepared for significant drops in the value of your investments, place most of your funds in deposits and safe bonds. If you are prepared for sharp fluctuations in the size of your savings, you can place a significant part of them in stocks.

6. Financial plan

If a person only thinks about buying a car in a year, buying an apartment in 3 years and does not plan to pay for his son’s education in 10 years, then he will buy the required amount for a car, but will be left without a down payment. Due to large loan payments, he will not be able to save the amount necessary for his son’s education, and he will not enter the best university in order to get into the free department. There is no need to talk about retirement. This entire unfavorable scenario was realized because the person had one goal in front of him, and not a full-fledged financial plan.

7. Neglecting insurance

In Russia, insurance of apartments, cars, and especially life, is unpopular, because... most believe that nothing can happen to them. The costs of renovating an apartment, compensating flooded neighbors downstairs, and restoring one’s own health are in most cases unexpected and require significant expenses, which not everyone is prepared for. Therefore, property, liability and life insurance is the key to confidence in the future of every person.

8. Start saving for retirement a couple of years before retirement.

You need to think about retirement at least 10 years in advance.

9. Neglect of tax benefits

Not many people know and use all types of tax deductions. Meanwhile, anyone can receive up to 15,600 rubles annually into their account if they paid for education, treatment, invested in their pensions or did charity work. If you bought an apartment or house, you can receive up to 260 thousand rubles into your account. plus additional compensation for interest on a loan for the purchase of real estate. published