Why is financial literacy so important in a fast-changing world? Why is it important to study Finance all your life?
It goes way beyond the knowledge of how to use a debit card, manage your personal financial statement and stay out of debt. My basic view about this subject matter (but I am not sure whether it is covered on events organized by ID Leader):
1. You ought to have an influx of money in your wallet in the end of each month.
It means that you should earn well enough to cover your basic needs and save something for the future (property, personal projects, ideas verification)/ invest in yourself immediately.
Do not be satisfied with an income of 15-20 thousand rubles in your city when you need to pay 60-70% for a rent. It is highly desirable for you to increase your competence level and receive a level when you can spend 30% or lower for your rent (it is alright if it is in a different city).
You will just spend all your income on food and basic amenities with nothing left to repair your laptop when it is broken or purchase a new mobile.
Examples of basic needs:
1.transportation;
2. accommodation;
3. utilities:
4. food;
5. clothes;l
6. medical bills;
7. social activities.
etc.
Examples of areas you can invest in yourself:
1.languages (unlimited subscriptions where you can practice with tutors daily)
2. sport exercises (dances, piano classes, swimming, etc.)
3. hiking\cycling.
4. Volunteer projects abroad/international events
5. Education (studies abroad in reputable universities)
6. Professional internships abroad.
7. International certifications which are valued by employers.
etc.
The outcome is clear - you need to have hobbies/activities which can allow you to earn better/become more interesting for people/build a better a rapport with others in the future.
2. You always should seek for the best ratio between price\quality without making impulse purchases which any vendor highly relies on.
Guys, please, do your basic analysis in excel to understand the quality and the price range in a region. Just pick up your phone and call all local suppliers, then google for the high-quality option with a moderate price.
For instance, if you decide to purchase a jacket to wear for 3 or 4 years, spend 3 or 4 hours analyzing the environment for the best material possible. After that, you can seek for the cheapest rate with the brand\material of this jacket and bargain. Particularly, it is obvious to do when a jacket can cost up to 60-70% of your salary with the possibility to reduce the rate down to 30%.
3. Never assume that your investment will give a ROI.
If you consider embarking on an expensive English language course with the expectation to get a job or a business trip with an expectation to find suitable prospects, it is better to go for high-quality options with the cheapest price.
In your case, it is better to enrol for a language course for 15$ per month for with unlimited classes rather than paying 20$ per hour even for more competent professional.
4. Do not pay for luxury items.
The price is heated up to 3000-4000% for the same quality or just a little bit better. Do not assume that your relationships will improve because of your purchasing power.
It is better to be a highly modest person when you travel, avoid business-class flights, network hotels, cabs and expensive restaurants when you go for a vacation. Instead of going for 7 days there, you can extend your period of stay up to 1-2 months renting an apartment and learn a local environment/culture/the way people work for the same or even smaller amount of money. You still spend the same amount for a visa and flights.
5. Try to avoid scams from insurance companies in Russia (except for some quality insurance providers such as International SOS).
You will pay your own money, pay your medical bills (in case of an accident) and pay for your lawyer Продолжаем информировать вас о новых возможностях.
Приглашаем принять участие на мероприятии от Лаборатории Карьеры на тему «Финансовая грамотность. Почему это так важно?».
Финансовая грамотность – важнейший аспект жизни современного человека. Следует знать, как работают деньги, как их зарабатывать и управлять ими.
Тему раскроет:
Сергей Нестеренко - финансист, сооснователь компании Prospect и Finlab.
На мероприятии будут разобраны вопросы как:
📍Как правильно вести личный бюджет ?
📍Как экономить деньги и не снижать качество жизни ?
📍Как планировать дорогостоящие покупки ?
📍Какие сервисы и агрегаторы использовать для того, чтобы тратить разумно ?
📆Когда:
27 февраля (среда) в 18:30
▶Где:
Точка кипения, г. Москва, Малый Конюшковский переулок, д. 2.
Регистрация по ссылке:
https://leader-id.ru/event/15729/
#youthspeak_partners
