What to do if you don’t pay enough
Do you often wonder where your money goes? According to opinion polls, every third Russian believes that he does not pay enough for basic needs. And the problem is not only in earnings, but in the inability to properly manage money. Basic knowledge in financial field will help a third to improve the management of the family budget/
How? Advises the expert of the project of the Ministry of Finance of Russia to improve financial literacy, financial adviser Sergei Makarov.
At the international level there are several criteria to judge the financial literacy of a person.
First: he has everything under control
Have a financially literate citizen money does not end for two weeks to pay, because it monitors the status of personal Finance. And planning your budget.
He builds short-term and long-term financial planning. This plan includes estimating revenues and expenditures, optimize unnecessary spending and account number and have expendable cash.
Second: it focuses on the financial services market
Today, a third of respondents applying for loans in the first financial institution, while in a neighboring Bank the conditions may be more favorable. Financial literate person will review the services, compare the offers and choose the most suitable.
For this, first, you need minimally to understand the features of various financial products and services — understand the difference between credit, savings contributions, microloans and mortgages.