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An open class titled “Fundamental Principles of Personal Financial Management” was conducted at the Department of Solid State Physics and Technology of New Materials of the Faculty of Physics and Technology at 91��ý Kazakh National University. The event brought together first-year students of the educational program “Materials Science and Technology of New Materials”, along with the group advisor M.B. Aitzhanov. The session was organized in an interactive and content-rich format aimed at enhancing students’ financial literacy and fostering responsible financial behavior.

The primary objective of the class was to develop students’ competencies in personal financial management, including planning income and expenses, cultivating a culture of savings, and preventing financial risks. The organizers emphasized that financial literacy is not merely the ability to save money but an essential life skill based on responsible and informed decision-making.

During the theoretical part of the session, the fundamental principles of financial planning were discussed. Particular attention was given to budget allocation, the formulation of financial goals, and strategies for building personal savings. The concept of compound interest was explained using simple and accessible examples, demonstrating how even small but regular savings can lead to substantial financial results over time. The role of time as a key factor in financial growth and the importance of setting clear financial goals were also highlighted.

In addition, the session addressed issues related to financial security and risk prevention. Students were informed about the potential consequences of poorly considered credit obligations, the risks associated with suspicious investment schemes promising unusually high returns, and the dangers of gambling and investing without adequate financial knowledge. In this context, particular emphasis was placed on the importance of critical thinking and careful risk assessment when making financial decisions.

The practical component of the class was organized as an interactive business simulation titled “Managing a Monthly Budget.” Students were divided into three teams and assigned different social roles: a student, a young family, and a young professional. Each group was tasked with allocating a hypothetical monthly income across key categories of expenditure, including housing, food, transportation, education, and savings. One of the essential requirements of the exercise was to allocate at least 10–20% of income toward savings.

Following the activity, each group presented and defended its financial strategy. During the discussion phase, participants adjusted their budgets in response to additional scenarios such as unexpected expenses, reduced income, or the need to make a major purchase through installment payments. This practical exercise helped students develop analytical thinking, strategic planning skills, and the ability to make financial decisions under conditions of limited resources.

The open class also contributes to the implementation of the United Nations Sustainable Development Goals (SDGs). In particular, the initiative aligns with SDG 4 – Quality Education, as it promotes the development of essential life competencies among students, including financial literacy, analytical thinking, and responsible behavior. Moreover, strengthening financial planning skills and economic resilience among young people is closely connected to SDG 8 – Decent Work and Economic Growth, as it lays the foundation for financial independence and sustainable personal development.

At the conclusion of the session, the key outcomes of the discussion were summarized, and the importance of financial discipline, long-term planning, and personal responsibility in managing financial resources was emphasized. Participants concluded that competent personal financial management is a crucial foundation for a stable and secure future.

Overall, the open class became an important component of the faculty’s educational and mentoring activities, contributing to the development of students’ financial culture, strengthening their social responsibility, and equipping them with practical skills necessary for independent economic life.