Personal financial planning - life hacks for those who want to take control of money

The leading specialist of Sovcombank told SSAU students about financial planning.

At the Faculty of Accounting and Finance, a master class was held on the topic: "Personal financial planning - life hacks for those who want to take control of money" on the basis of the ABC Money Business School of the SmartAgro youth technopark.

The event was attended by 2nd year students of the Accounting and Finance Faculty of the specialty "Economic Security" and 3rd year students of the Faculty of Social and Cultural Services and Tourism in the direction of "Tourism". The speaker was Lyubov Petrovna Stetsyuk - financial consultant, leading specialist of IC Sovcombank Life JSC, Stavropol. The event was moderated by the teachers of the department "Finance, credit and insurance".

The purpose of the master class is to help students learn the rules of financial behavior and learn more about how money is earned, spent and saved, what income opportunities exist, how to learn how to make the right financial decisions, how a reasonable attitude to money contributes to implementation. plans and ensuring financial security and well-being, what role do long-term life insurance programs play in financial planning.

Remembering the famous book by Robert Kiyosaki "Rich Dad Poor Dad", which presents the life approach of two fathers: "One said:" The love of money is the root of all evil ", and the second:" The root of all evil is the lack of money. " These are statements that shape habits and outlook on life.

During the master class, students were able to make sure that personal financial planning allows a person to more effectively use their opportunities to save money for necessary purchases, calculate their real opportunities for loans, and ensure financial stability in the future.

The speaker of the master class focused on the following aspects:

- What is a financial plan?

- How to draw up your financial plan?

- List of the most common financial goals;

- How to set financial goals correctly?

- How to determine your capabilities (monthly)?

- Managing your own budget,

- Life and health insurance as a tool for individual financial planning,

- How to achieve the set financial goals?

Thus, the speaker deduces the following formula: “We do not have a gap in the level of welfare, and there is no inequality of income, but we have an inequality of approaches to personal financial planning”.

A business game "I am building my financial plan" was held with the participants of the master class, during which students learned to independently draw up a personal financial plan, taking into account the following features:

1. SPECIFICALLY defining your financial goals (what I want, when I want and how much it will cost)

2. UNDERSTANDING how much I can save monthly (I know and can plan my income and expenses)

3. CHOOSING an effective pace for achieving my goals (I take into account all the possibilities for the fastest and most comfortable achievement of my goals, build a plan and follow it).

At the end of the event, the participants of the master class concluded that the absence of a personal plan, even the simplest one, is a huge risk. For people who do not have problems with money at the moment, this is the risk of losing everything one day and moving to a completely different level of existence. For people with constant money problems, this is the risk of moving from poverty to poverty. 

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