Analysts told why financial literacy is important

A woman counts the money. Archive photo

Financial literacy is often mentioned in the context of protection from fraud, however, following some basic principles, you can even get a little “extra income” for savings or competent management of their investments, told RIA Novosti interviewed experts.

“To be able to earn their own spending, more profitable to hold own funds in the savings account or contribution, getting them to income while earning cashback using credit funds,” he gave you one example of the General Director of Finance online platform Webbankir Andrey Ponomarev. Let’s say you do the repair and you have a big spending, says the expert. It is easy to calculate that if you buy in the store 100 thousand rubles by credit card with cashback 1%, you can get 1 thousand rubles.

At this time, own funds, say the same 100 thousand rubles, can lie on the Deposit. “Even with a relatively modest annual rate of 6% per annum, you will earn another 500 rubles profit from its own funds. Thus, using interest-free credit, you can get 1.5 thousand rubles, or 1.5% is spent on the repair of a large amount,” says Ponomarev.

More “large” payments can be made through a tax deduction, for example, purchased the apartment, experts add the financial marketplace “Compare”. If you have purchased an apartment in the mortgage, then the deduction will be divided conditionally into two parts — up to 260,000 from the value of the property and to 390 000 rubles for the interest on the mortgage. A total of 650 000. The deductions can be obtained for payment of education, health and sports and recreational services.

Also literate strategies it is important to follow in the case of micro-loans, continues Ponomarev. Their cost is generally higher than Bank loans, but there are ways to save. For example, many MFIs attract new customers loans at 0%, that is, in case of timely repayment of the first loan is enough to return the original amount without interest. But we need to look, when to return the money to prevent the delay. Otherwise you will have to pay interest for the entire period of the loan.

One of the most important rules of financial literacy – control your monthly budget, experts stress. To do this, you need to consider the income – wages, deductions, benefits, mandatory spending – rent, utilities, and loan payments, food, variable expenses – purchases, travel and entertainment. The most popular scheme of planning of the budget 50-30-20 rule. 50% of income should go on a mandatory expenses, 30% on optional and 20% on savings and investment.