The expert gave advice on proper budget allocation.

The basis of financial literacy is proper budget management. This concept includes spending planning, cost optimization, and savings creation. When it comes to purchases, it is important to separate them according to several principles: large and small, mandatory and optional. Olga Matveeva, financial consultant for X5's Package service, told Izvestia on March 6 how to make purchases of any category wisely.

"Mandatory but not particularly large expenses include all household needs — food, household goods, and personal care products. This category of purchases should be approached wisely, despite the fact that the costs seem insignificant," Matveeva explained.

According to her, it is possible to resort to methods of additional benefits. For example, household chemicals can be purchased immediately in bulk, care products for seasonal promotions and customer days of different brands, and products using loyalty programs and cashback services, so that you can save money and pay for some purchases with points on your next trip to the store.

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In addition, do not forget about the basic price comparison in different supermarkets, as well as special offers for certain products, Matveeva noted. For example, ready-made dishes from the store's own brands may be cheaper than buying all the ingredients separately.

"When it comes to mandatory large purchases, the first thing to do is to plan. Let's say you need to upgrade your household appliances at home this year — start allocating expenses as comfortably as possible. And most importantly, record somewhere what you will buy and in what month," the expert emphasized.

According to the expert, the next important step is to create a budget for purchases. The optimal method is to set aside a certain amount of money after receiving each income. Also, do not forget about household savings, which will help you save large amounts of money.

"Some purchases still put us in a stupor — usually it concerns unnecessary expenses. If you're really in doubt about whether you need a new dress or even a new phone, take a comfortable break. During this time, reflect on how much the purchase will justify itself. Depending on the size of the purchase, the duration of the break for reflection may vary. Conduct an honest internal dialogue in order to make an informed decision," Matveeva summed up.

Earlier, on January 10, it was reported that about 43% of respondents believe that financial goals should be discussed regularly or at least once every few months. This was discussed in a study by VTB Bank. More than half of Russians (51%) set a goal to create a safety cushion for their family. About a third of the respondents (34%) plan to save up to buy a home, and the main financial goal for 28% of respondents is to ensure a decent old age. In addition, a quarter of Russians (25%) seek to save up for their children's education, while 8% want to buy housing for them.