The specialist spoke about the first steps in managing your personal budget

Financial literacy begins with regular tracking of income and expenses, which helps to avoid debt and lay the foundation for savings. Nikolay Berzon, lecturer of the online Master's degree in Investments in Financial Markets at the National Research University of Higher School of Economics, Professor and scientific director of the Faculty of Economics, told Izvestia on August 5.

"Financial literacy begins with the basic management of a personal or family budget. This is the basis that allows us to understand whether we live within our income or spend more than we earn. Regular monitoring of spending and receipts of funds helps to determine if there is a shortage, and to see the reason why you often have to "intercept" money, borrow or take out loans, even with high earnings," he explained.

Berzon noted that budget control helps to avoid emotional spending and avoid impulsive purchases without compromising the quality of life. According to the National Agency for Financial Research, 52% of families were already accounting for expenses in 2024, up from 25% a few years ago.

"It is important that revenues exceed expenses. This can be achieved through budget control, job changes, professional development and, as a result, salaries, and the search for an additional source of funds. Only after there is a surplus, you can think about multiplication and accumulation. At the same time, it is important not only to save money, but also to manage money wisely," Berzon said.

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The expert stressed that at first it is possible to place funds on a bank deposit. However, in the long term, it is worth considering more profitable instruments, including investments. The professor also recalled the importance of planning for future expenses and creating an airbag. He stressed that pensions in Russia, on average, amount to only 25% of salaries, so citizens need to make their own savings.

"To do this, it is enough to start small, for example, to save at least 10% of income for 30 years, and by retirement age it will be possible to accumulate an amount comparable to the usual expenses," he added.

Berzon recalled that the state supports long-term savings, therefore, a program for the formation of citizens' savings has been created and is functioning in the country. It allows a person to make contributions that will be supported by the state. The maximum amount of co-financing is 36 thousand rubles per year, while the coefficient depends on the average monthly income of the depositor. This measure can become an element of long-term financial planning.

Olga Matveeva, financial consultant for X5's Package service, told Izvestia on March 6 how to make purchases of any category wisely. 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.

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