«Financial literacy» sounds modern, and in our era of fees and hidden charges, it's even strategically important. Financial literacy is primarily a special approach to your budget; one might say it implies the notorious «spend money wisely». However, despite the abundance of advice and recommendations in various sources, ranging from government portals to informal online platforms, citizens are not concerned with improving their financial literacy. And when looking for a way out of financial difficulties, they often follow a more familiar path, tightening the noose of debts, credit obligations, and total savings. Why is a competent systematic approach to the analysis and planning of income and expenses, which is implied by financial literacy, ignored? What prevents people from seeking help from specialists? Let's look at the main «stop valves».

There is a belief that keeping track of your budget, planning it, setting financial goals, making a financial plan, keeping track of savings, optimizing expenses, assessing risks, insurance, and lending are the responsibilities of people in business. And for the average consumer, it's enough to just take a receipt from the ATM when withdrawing cash. This is not true. All these concepts apply to everyone, regardless of wealth or economic education. Should I borrow money or look for a side job? Will a seemingly necessary purchase of a refrigerator sink the entire budget for a whole year, or is it more rational to look for an alternative? How can I manage to save money on a small salary? These everyday questions clearly show that financial literacy is not an abstract science. A penny saved is a penny earned — we didn't invent that.

A simple question without a catch – how much do you need for happiness? Not only do most people have no idea about the amounts they need for their expenses, but also the desired million is always imagined as a gifted suitcase with cash, which will be handed over from hand to hand. How will the story develop further? Suppose you have the cherished suitcase in your hands – that's it, you have the money, financial literacy is unnecessary. This is where the fun begins. Where will you take this cash? How will you store it? How will you report on the sharply (and most importantly, noticeably) increased standard of living? Are you sure that, failing to cope with the current turnover of funds, you won't trap yourself in an even worse predicament? This is a simulated situation. It is important to understand that it is the comprehensive approach that is effective – analysis of expenses, seasonality, hidden payments, commissions, payment dates. Then you will have the opportunity to manage your funds effectively and understand where to go without going to extremes of saving or working 18 hours a day. The main mistake is chaotic steps. As a result, we have a whole "bouquet": not only is there not enough money for needs, but now there is also an installment plan for a year and a debt to a neighbor in foreign currency. If income is not enough and the decision is made to borrow, what is the debt repayment plan (considering that there is still not enough money for priority needs, let alone covering the debt as well). Only the search for alternative options, optimization of expenses, accounting, accounting, and accounting again can restructure the ossified mechanism of your income and expenses.

If you are a self-discipline professional, like order in everything from a desk drawer to a piggy bank for your dream, then the subtleties of financial planning are within your power. There are specialized portals, specialized literature, all you need is patience and a bit of diligence. If you feel that you don't have enough motivation to dig through a ton of articles, if you need a qualified look "from above", then working with a specialist will be the most effective option. There are consultants on financial literacy and their services are available in our city. With a so-called finance coach, you will be able to outline a plan for achieving those financial goals that you yourself determine. This includes purchases, savings for vacation, purchasing a car, etc. You can learn the nuances of income distribution using your specific example (no matter how hopeless or low-budget it may seem to you). The effectiveness of working with a consultant is double: the specialist is not only a source of information for you, but also a motivator, giving assignments and supervising their implementation.

Consultations are provided FREE OF CHARGE as part of the project «Supporting the socio-economic rights of women in Brest who are in difficult life situations through enhancing the potential of the NGO «Business Women's Club». Perhaps among your relatives or acquaintances there are women who find themselves in a difficult life situation. Any woman can request assistance, advice, consultation, or help in resolving a deadlock. Tell them about us, we can provide social and psychological support in overcoming difficulties and offer legal assistance.