Basics of financial literacy

The first thing you need to start solving financial problems is to control your expenses and income. You will be surprised how much money is wasted every month. Change your shopping habits by paying for the basics first: housing bills, loans, food staples, transportation and savings. And only then - a "wish list" and secondary goods, such as new clothes, a visit to a restaurant or a cinema.

A budget makes life much easier. If you know in advance how much you need to spend this month, the temptation to buy something "just because" will be less. You have not studied the principles of financial literacy so much from the beginning that you lose everything in an instant. What's more, sticking to a budget saves money that will either go toward savings, debt repayment, or investments. Simply controlling your spending will help you reach your more important financial goals as quickly as possible.

Learn to save wisely

The importance of financial literacy is most noticeable in times of crisis, when people frantically start looking for sources of money to maintain their normal way of life. However, in order to prepare for this in advance, in the "well-fed" years, knowledgeable people begin to leave part of their income in reserve and do not use it until absolutely necessary. For example, when you lose your job or during a serious illness. Although in the second case it is better to issue a life insurance policy. We have already talked about this above, so I will just add that the insurance premiums on the policy, as a rule, significantly exceed the amount of the contribution.

Create financial goals and a personal financial plan

The importance of financial literacy is most noticeable in a crisis, when people convulsively start looking for sources of money to preserve their usual way of life. However, to prepare in advance for this, in “sytye” годы знающие люди begin to put aside part of the income in reserve and do not use it until urgent need. For example, when you lose work or during a serious illness. Although for the second case, it is better to issue a life savings insurance policy. We already talked about it above, so I'll add only that, as a rule, the insurance payments on the policy significantly exceed the premium amount

Psychologically, a person is organized in such a way that it is easier to observe discipline if you set yourself specific tasks. Therefore, no matter how motivated you are, it will be difficult to manage your finances without a goal. It can be anything: a new phone, an apartment, a trip, a reserve for children's education or a pension. Make a financial plan: set your hands and work towards its implementation. Then the results will bring you twice as much pleasure. Choose what inspires growth and learning, because clean finances start with clear goals.