91��ý

Senior Lecturer of the Department of Finance and Accounting of the Higher School of Economics and Business at 91��ý Kazakh National University, Almira Arystambayeva, visited School-Gymnasium No. 81, which is considered one of the leading schools in the Bostandyk District of Almaty. The topic of the training conducted with students «Financial Literacy as an Important Step Toward the Future»

Financial literacy is the ability to manage money properly, plan income, control expenses, save money, and make informed financial decisions. In today’s world, being financially literate is important not only for adults but also for school students.

Knowledge in the field of finance helps a person spend money wisely, avoid unnecessary expenses, protect themselves from fraud, and confidently plan their future. Simply put, financial literacy is the art not only of earning money, but also of using it correctly.

Why Is Financial Literacy Important?

A student who receives financial education from an early age:

·                     understands the value of money;

·                     can distinguish between needs and wants;

·                     learns how to plan pocket money properly;

·                     understands the importance of savings;

·                     becomes familiar early with such concepts as debt, credit, and interest;

·                     grows into a responsible and careful citizen in the future.

Today, children and teenagers are often attracted by advertisements, social media trends, and online shopping. In such conditions, financial literacy teaches a person to think carefully before making each purchase.

Basic Principles of Financial Literacy:

1.                  Know Your Income.

Every person has a certain source of income. For school students, this may include pocket money from parents, rewards, holiday gifts in cash, or money earned through their own efforts. The first step toward financial literacy is to know exactly how much money you have.

2.                  Control Your Expenses.

It is very important to understand what exactly you are spending your money on. Sometimes, small daily expenses turn into a significant amount by the end of the month. Therefore, if every student writes down their spending, they will learn to manage their finances better.

3. Make a Budget.

A budget is a pre-planned outline of income and expenses. For example, if a student receives 10,000 tenge in pocket money per month, it can be divided as follows:

·                     one part for transportation;

·                     one part for food;

·                     one part for school supplies;

·                     the remaining part for savings.

4. Build Savings.

Savings are a reliable step toward the future. Instead of buying something immediately, it is a very good habit to save money first. This teaches patience, goal-setting, and discipline.

5. Distinguish Between Needs and Wants.

A need is something truly necessary for life. For example: school supplies, clothes, and food.

A want is something that seems attractive at the moment but is not really necessary. For example: an expensive accessory, an extra toy, or an item bought just for fashion.

A financially literate person thinks first about needs and only then about wants.

Useful Advice for School Students.

First, do not spend all your pocket money in one day.

Second, write down every expense you make.

Third, save money for a specific goal.

Fourth, do not trust advertisements immediately.

Fifth, do not click on suspicious links on the internet and never share your bank card details with anyone.

Financial Safety Is Also Important.

Financial literacy is not limited to the ability to save money. It also means knowing how to protect your funds. Today, fraud is very common on the internet. Trusting unknown messages, telling strangers your codes, or taking part in suspicious prize draws can be dangerous. Therefore, it is important for every student to learn how to protect their personal data as well.

Conclusion.

Financial literacy is a vital life skill. The earlier you begin to develop it, the more confident, careful, and responsible you will become in the future. The ability to manage money properly is one of the foundations of a successful life. Therefore, paying attention to financial knowledge from school age is a правильный step toward a bright future.