Olga Daineko, an expert at the NIFI Financial Literacy Center of the Russian Ministry of Finance, warned in a radio interview Sputnikthat there is a risk of falling into a financial hole when taking a loan.
Daineko advised not to pay more than 30% of the family budget in loans. According to him, this does not reduce the quality of life.
“If the payments are taking up more than half of the budget, this is cause for alarm,” said the expert.
He noted that at the first signs of bankruptcy, it was necessary to look for a way to optimize his obligations in order to “avoid a debt nightmare.”
In particular, Daineko recommended devising a reasonable savings plan and avoiding self-made shopping and convenience foods. At the same time, we should not cut back on spending on health and education.
Alexey Okhorzin, Head of Retail Business Unit of MKB saidHow to properly save a financial pillow. He stated that you should set aside 5% to 10% of your income each month.
Source: Gazeta
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