Learning self-control. If you’re lucky, your parents taught you this skill when you were a kid. If not, keep in mind that the sooner you learn the art of deferred utility (i.e., investing), the faster you can keep your finances in order. Although you can easily buy the trinket with a credit card that you want at the moment, it’s better to wait until you can actually buy it with the accumulated money. Are you sure you want to pay interest on jeans or a box of cereal? If you are in the habit of making your purchases with credit cards, regardless of whether you can pay the bill in full at the end of the month, you can still pay for those trinkets with interest. If you want to keep your credit cards as a factor in the convenience or privileges that they offer, then make sure



Investing Apps

Taking control of your own financial future If you do not learn how to manage your own money, other people will find ways to manage to manage it in your place. Some of these people may be malicious, like unscrupulous financial advisors. Others may be well-meaning, but may not know what they are doing. Instead of relying on others, following only their advice, you should take and read a few basic books on personal finance. Once you are armed with basic knowledge of personal finance, don’t let anyone catch you by surprise. Understanding how money works will be the first step on the road that will make your money work for you. Knowledge of your financial situation. After you read several books on personal finance, you will understand how important it is to keep track of the fact that your expenses do not exceed your income. The best way to do this is to plan your personal budget. As soon as you see the true state of affairs, you can immediately outline the ways of better spending and saving. In addition, while maintaining recurring monthly expenses, you will see how you can save a lot of money over time. If you are not spending money on luxury apartments now, you can afford it after a while. Creating a rainy day fund One of the immutable laws of personal finance is “pay yourself first.” No matter how much you owe in paying for an apartment or credit card debt and no matter how low your salary may seem. Use this wise advice to find some money in your budget to save in an emergency fund every month. Having money in savings to use in emergency situations can really save you from financial trouble and help you sleep better at night. In addition, if you get the habit of saving money and consider it a non-negotiable monthly payment, then very soon you will have more than extraordinary money, you will have pension money, vacation money and even money for the home. It is especially important not to store this money under a mattress, but to put it under a high percentage on a savings account or investment account. Otherwise, inflation will undermine the value of your savings. Start planning your retirement plan now. Often people think that retirement is so far that there will be time to prepare, there will be an opportunity to build a career, etc. But it’s worth thinking about retirement now. I think it’s no secret to anyone that using a compound interest on a deposit, you can build up good capital with the help of time leverage. So, in order to accumulate by the time of release the amount necessary to become The renter has two approaches: invest a lot or invest earlier. Even if you don’t want to become a resident of your summer house, become a guru of sitting on a bench, then even then there will be a significant plus: you can transfer your work from the section “I must, I can not afford” and so to the section “I go to work because I love her”. It is also worth thinking about what exactly to realize your compound interest (but more on that in other articles). The question is not an idle one, because knowing the Russian economy, and especially its political establishment, or, to be more precise, it is worth considering what to think up so that the savings do not disappear. Also, one interesting opportunity to lower the real income tax rate is to solve the funded pension issue with your employer. Taxation of real income. In continuation of the topic that was touched on in the previous paragraph. Taxation. They say in Russia the lowest income tax: 13%. Nothing like this! Real taxes are much higher. That is why it is worthwhile to thoroughly study the issues regarding how you pay the state for its functions. I’m not saying that you need to break the law in order to reduce taxes, it’s just possible within the framework of the law to change the basis from which you pay it. In particular, if you instead of the state put this money on your pension fund. Both you and the state will win. Nothing will change for you personally now, but the gain will be in the future, and the state will recover what is due from the place where you transferred the funds, or after, when the time comes to open the moneybox. Health insurance. In Russia, unfortunately, there is no tradition to insure something. For this you constantly have to pay. I will not call to insure all that is possible, so that in case of fire insurance agents didn’t come first, but I will urge you to insure the most important thing: your health. Today, even people with very high incomes can buy a policy. And if there is a real need for treatment, especially in connection with the lack of free medicine, you will have to pay the amount. Perhaps even a heavy family. Then there are pages, reports and the like for the general collection of funds for treatment. And if the cost of insurance is divided by the number of days in a year, can several rubles compare with your health? The question is of course rhetorical. Another insurance option: take care of your health. Do not save on it ever. Diversify your diet and so on. This can also be considered as a kind of insurance. Secure your welfare. If you want to protect what you got over the years of work, which is gained by overwork, then make sure that in case of danger everyone will return you with profit. Again, returning to the topic of insurance. But this time it is already necessary to secure secondary things. You can buy a property insurance policy against catastrophes and thieves. The experience of the summer of 2010 showed that the policy is not such an unnecessary thing. You should NOT wait until the thunder strikes and hope for the help of the state, you need to take control of your property. An interesting aspect is the pole in case of disability. This will protect not only you, but also your dependents. Insurance under such a policy is usually paid well and over a long period of time.