The economist called the right approach to the formation of a financial safety cushion

A financial safety cushion is a reserve of funds that will help you cope with unexpected expenses or temporary loss of income. Petr Shcherbachenko, an economist and associate professor at the Financial University under the Government of the Russian Federation, told about this on Wednesday, May 28. He also named an algorithm for its formation.

According to the expert, first of all it is necessary to decide how much money is needed for a financial safety cushion. It is usually recommended to have enough money in reserve for a period of more than three months — about six months or more. Then you should estimate the costs, that is, calculate all the monthly mandatory expenses for housing payments, utilities, food, transport, and so on.

"This will help you understand how much money you need to set aside based on the monthly calculation," Shcherbachenko said in an interview with Lenta.Ru .

In addition, the economist advised developing a personal or family budget with a separate item allocated to form a financial cushion. He called for setting up automatic transfers to a separate savings account or deposit with the possibility of replenishment and capitalization immediately after receiving a salary.

In addition, the expert advised to periodically check your savings and adjust your goals depending on changes in income and expenses, as well as use your savings only in emergency situations.

What the state is getting richer: the level of Russians' welfare has increased

Financial literacy rates have also increased significantly

Earlier, on April 30, Roman Prokhorov, chairman of the Financial Technology Commission of the Council of the Chamber of Commerce and Industry, said that the minimum airbag should be weekly expenses. 360.ru .

In February, it was reported that the majority of Russians are not preparing to provide themselves with a financial cushion for retirement.

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.