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Second-year students of the Faculty of Mechanics and Mathematics attended a seminar held to improve financial literacy. The seminar was delivered by B. Abenov, Deputy Dean for Social and Educational Affairs, and G. Auzerkhan, Senior Curator-Adviser of the Department of Mathematics.

In modern life, managing money properly is a key factor in ensuring a family’s well-being. Through financial literacy, individuals and families reach their goals faster and maintain financial stability. This is especially relevant for Kazakhstani families: analyzing income and expenses, and planning savings and investments remain constant priorities. For example, a young family in Almaty shared: “Financial literacy teaches us not to buy things we don’t need.” Therefore, it is crucial to discuss finances together and make decisions jointly.

The seminar reviewed the stages of family budget planning and noted that a family budget begins with identifying shared financial goals. Young couples should discuss in advance what they are saving for (housing, a car, education, vacations, etc.). According to experts, “shared financial goals prevent unrealistic expectations and disappointment, and help fulfill common dreams.” Therefore, decisions about major purchases or investments should be made together, with a clear target in mind. The budget can then be built through the following steps:

1. Write down all income and expenses. If a family records income and spending at the beginning of each month, it can see its real capacity and any budget shortfall. For example, all monthly income (salary, bonuses, additional earnings) and expenses (housing, utilities, groceries, transport, etc.) should be listed. This helps determine how much “free money” remains—or what is missing.

2. Define spending categories. A budget is typically divided into groups such as groceries, housing (mortgage/rent and utilities), transport, medical expenses, etc. At the end of the month, compare how much was spent in each category and consider where savings are possible. For instance, if utilities take up half of the income, analyze ways to reduce them. Mandatory payments should not exceed 50% of income; the rest should go to savings or other priorities.

3. Plan the budget by allocation. A widely used 50/20/30 rule suggests: 50% for essential needs (rent/mortgage, food, utilities), 20% for financial goals (debt payments, savings, investments), and 30% for other spending (entertainment, leisure, hobbies). This method balances current needs and future savings. For example, with a monthly income of 400,000 ₸, 200,000 ₸ may go to housing and food, 80,000 ₸ to savings/investments, and 120,000 ₸ to other expenses (entertainment, transport, etc.). Lower spending means higher savings.

4. Maintain the budget consistently. A budget is not a one-time plan; it is an ongoing process. Daily expenses should be recorded in a notebook or an Excel sheet, and a monthly audit should become a habit. Manual records support careful analysis, while spreadsheets can automate totals. If needed, use apps (CoinKeeper, Money Manager, etc.). The key is to record spending on time.

5. Review and adjust. Summarize each month by comparing planned vs. actual spending. Identify where overspending occurred and make adjustments for the next month. If there was an unplanned major purchase, include it in the next budgeting cycle. A family that monitors cash flow reaches goals faster. Experts emphasize: “financial planning is not a one-off task; it is a continuous process—update your plan when goals and circumstances change.”

Managing money together

Financial decisions should involve both partners. You can adopt one of these approaches:

• Shared budget. All income goes into one common pool and household expenses are paid from it. Individual income differences are not central—everything is shared. For example, one partner pays the mortgage while the other buys groceries from the same pool. This approach supports shared goals and unified planning.

• Separate budget. Each partner manages their own income and pays agreed expenses. For example, one pays utilities, the other pays groceries. This can work for couples with stable incomes, but it requires clear rules and shared responsibility—one person should not carry the full burden.

• Mixed budget. Each partner contributes a fixed percentage (or amount) to a shared pool, and spends the remainder individually. Shared funds cover utilities and major needs; the rest remains personal. This preserves shared responsibility while keeping personal autonomy. According to statistics, most families (64–76%) prefer a shared budget; only 2–14% use a fully separate system; 11–24% apply a mixed model.

Discuss finances openly

Hold regular family finance meetings and discuss major purchases and goals together. Specialists warn: “financial issues must be discussed openly. Regular consultation aligns goals and responsibilities and prevents misunderstandings; it also strengthens trust.” For example, before buying new equipment or a car, sit down together and assess where you can save during the month. When one negotiates and the other calculates, decisions tend to be fair and balanced.

It was also noted that digital technologies significantly simplify family finance management: the Kazakhstan market offers many free apps and services for expense tracking and budget planning.

Secrets of successful couples and how to avoid mistakes

Financially literate families often share these habits:

• Split responsibilities. For example, if most of one person’s income goes to the mortgage, the other contributes to groceries and children’s needs. Experts note: “couples earning exactly the same are rare, but income differences should not harm the relationship—do things together.” No one should be left alone with the burden.

• Set shared goals. A common dream unites partners. If both regularly save—for example, 10% of income into a bank deposit or toward a goal (home, car)—budget discipline becomes easier. Some Kazakhstani couples have built a habit of transferring 10% of income to a deposit each month, helping them reach long-term goals faster.

• Resolve disagreements. Couples may have different “money personalities”: one spends more, the other saves more. Psychologists say this does not have to lead to conflict. If one wants an expensive purchase, propose saving in another category. A practical solution is to use “balanced strengths”: one focuses on earning, the other on smart spending. “When financial conflict arises, it should be resolved through clear planning.”

• Maintain “financial honesty.” Hiding spending or loans is a serious mistake. Secret purchases or hidden debt can be considered “financial infidelity” and can cause conflict. For instance, opening multiple credit cards and hiding the debt damages trust. Therefore, all obligations must be disclosed: if one partner has credit-card debt, the other should know. Openness is the foundation of financial trust.

• Avoid dependence on loans. Many try to solve problems through frequent borrowing. New debts destabilize the budget. Experts recommend paying off high-interest loans first. If additional money is needed, close existing debt before moving to new goals. Reduce spending and prioritize savings. Be cautious with unstable payment obligations.

In conclusion, financially literate families manage money in a structured, transparent, and planned way. By avoiding common mistakes and following practical guidance, any family in Kazakhstan can manage its budget effectively—achieving shared goals and improving financial literacy.

Bolat ABENOV,
Deputy Dean of the Faculty of Mechanics and Mathematics for Social and Educational Affairs

Gaukhar AUZERKHAN,
Senior Curator of the Department of Mathematics