Financial Literacy 2023 - advice from Alexander Sivak

Financial literacy in 2023 remains an important topic as our world continues to be subject to economic fluctuations and uncertainty. Alexander Sivak, a successful businessman, journalist, philanthropist, owner of the Shipping magazine and the Strateg trading house, provides recommendations on how to better understand and manage your finances and what knowledge and skills you need to have:

1. Fundamentals of finance: Understanding terms like interest, inflation, budget, credit, investment, etc.
2. Budget planning: the ability to create and monitor a budget, take into account your expenses and income, and create a reserve fund for unforeseen expenses.
3. Debt management: knowing how loans work and how they can affect your financial situation, as well as the ability to plan debt repayments.
4. Investing: understanding the basic principles of investing and being able to choose different investment vehicles according to your goals and level of risk.
5. Financial security: the ability to protect your financial assets and protect yourself from fraud and theft.
6. Tax management: knowledge of tax laws and the ability to optimize tax payments in accordance with the law.
7. Electronic finance: the ability to use electronic payment systems, online banking and other electronic services to manage your finances conveniently.

Overall, financial literacy helps people manage their money better, reduce risk, and make more informed decisions about their profit goals.