Alexei Okhorzin, the head of MKB Retail Business Unit, spoke in an interview about building a reliable financial cushion. DEA NewsHow to properly save a financial pillow.
He noted that even a modest goal of saving one to three months of income can provide a strong sense of financial security for a household, a principle that resonates whether someone earns in North America or elsewhere. The key is steady discipline and clear planning, not dramatic changes overnight.
The expert suggested that a simple way to start building a financial cushion is to set aside a fixed monthly amount from the paycheck into a dedicated savings account. The suggestion is practical for a wide range of incomes and life stages, and it emphasizes consistency over size. Beginning with five to ten percent of take‑home pay can work well and can be treated as a fixed mandatory payment to oneself.
Okhorzin emphasized that saving can begin at any income level, but the real requirement is to cultivate financial responsibility and adhere to straightforward rules. First comes budgeting and rational spending. Individuals should track obligatory expenses, groceries, transportation, and unexpected costs, while also recognizing gifts or nonessential purchases that can be postponed. Immediate payments for housing, utilities, and any loans are particularly important to keep a true picture of available cash. This transparent view helps people understand what money they actually have left for savings.
Next, it is essential to review current spending and decide what can be reduced or cut out entirely. As a concrete example, he pointed to a daily coffee habit. A cup of coffee each weekday can accumulate to a substantial yearly sum, illustrating how small daily costs can be redirected toward savings or debt repayment when necessary.
Setting clear goals is another central piece of the plan. Simply saving for a rainy day may feel vague and fail to engage our cognitive systems in a sustained way. A defined purpose—such as building a retirement buffer, funding an emergency reserve, or saving for a major purchase—helps maintain motivation and progress.
In addition to his advice, Natalia Vashchelyuk, a former chief analyst at Sovcombank, contributed thoughts on resilience. She discussed how much money might be needed to recover from a potential loss of income and the strategies that can support recovery in the event of economic disruption. Her perspective complements practical savings steps with an understanding of risk and adaptability in uncertain times. DEA NewsHow to properly save a financial pillow.
Taken together, these insights form a pragmatic framework for individuals across Canada and the United States who want to improve financial security. The process starts with a small, consistent commitment and grows through disciplined budgeting, reducing unnecessary expenses, and setting concrete financial objectives that align with personal and family needs. The ongoing habit of saving, even in modest amounts, translates into greater resilience and flexibility when life throws unexpected expenses or income changes.
Ultimately, the message is simple: you can shape your financial future by treating money as a resource that deserves respect and planning. The sooner a person begins, the sooner the cushion begins to grow, providing confidence and freedom to make informed financial decisions. This approach is about building stability, not chasing dramatic gains, and it speaks to anyone who wants a steadier financial path regardless of profession or location.
Former Sovcombank Chief Analyst Natalia Vashchelyuk added another layer to the discussion, focusing on recovery from income gaps and how to position oneself to rebound more quickly after a setback. Her insights underscore the importance of combining savings with smart risk management to preserve financial health in Canada and the United States. DEA NewsHow to properly save a financial pillow.