Financial literacy helps to build a strong foundation on which one can plan for their future life.

If you often think about how to improve your financial situation, start saving and achieve a goal or realize a dream, use the following checklist:

✅ Spend less than you earn.

As statistics from credit card issuers show, many people still ignore this advice. The rich are not those who earn a lot, but those who spend little. No matter how much you earn, it's very difficult to achieve your goals and afford desired things if you spend more than you earn.

✅ Control your budget.

Special programs for managing household finances can help you with this. Understanding your income/expenses ratio and where your money goes is the basis of any financial plan.

✅ Create an emergency fund.

No matter how low your income is or how much you have to pay off debts, you should find some amount to save every month and put it in your "emergency fund".

✅ Prioritize your debts.

At some point in life, almost everyone deals with loans or debts. Try to organize their repayment in order of priority. It is important that the debt with the highest interest rate is at the top of the list. It needs to be paid off first, and for other debts, if the terms of the contract allow, you can simply pay the interest on the loan.

✅ Set goals.

Saving just for the sake of saving is not a good motivator. Setting specific financial goals, such as buying a new car, an apartment or a piece of land, or traveling, works much better.

✅ Resist temptations.

Attractive marketing tricks by marketers and salespeople can make anyone spend their last penny. When you start to understand this, it's easier to resist temptations and say "no."