Former Minister of Finance of the Russian Federation believes that it is possible to save up even with a small salary

2021-11-01

Free “financial literacy lesson”

In the opinion of Mikhail Zadornov, the former Minister of Finance of the Russian Federation and now top-manager of a bank, high incomes are not at all necessary for good savings. The banker is sure that in order to look confidently into the future, Russians simply need not be afraid to take risks, have deposits in different banks and always save. This was reported by RIA Novosti.

Here’s a recipe from a successful financier:

  • a savings portfolio should be formed from instruments with different degrees of protection: solid and risk-free and with an increased element of risk;
  • savings need to be split: the income of one group of investment instruments will compensate for the loss from another;
  • no need to spend money on small things that seem necessary, but you need to develop a habit: having received any income, safe some amount.

“The only thing worth making efforts for is our future, and we need to take care of it methodically and today,” concluded Mikhail Mikhailovich.

Mikhail Zadornov, the former Minister of Finance of the Russian Federation in 1997-1999

Needless to say, the tips are “useful”. It would be good if a prominent financier would also tell how, earning an income of 10-15 thousand rubbles (150-200 US dollars) per month, he could manage to save money in several banks at once.

About 20 million Russians struggle to make ends meet before their next paycheck. Prices for food, clothing, communal services, medicines are constantly growing, and the salaries of most employees remain at the same level. We wonder what kind of “little things” we are offered to give up in order to “form start-up capital and regularly replenish the accumulative resource”?

In fact, M. Zadornov once again reminded the Russians: the current “state does not owe us anything,” save up for life on your own, your poverty is your problem.

It is very easy to find a lot of such “advisers” now. It is also easy to find specialists who are ready to teach “how to make a million” or “teach financial literacy”. Not for free, of course. But results for the visitors of these “refresher courses” is practically zero. With all the abundance of “teachers” and the simplicity of recipes, the number of the poor is not decreasing. After all, the point is not in the inability of the population to correctly distribute pennies to banks, but in the legal enrichment of some at the expense of appropriating the labor of millions. The rescue of drowning people is the work of the drowning people themselves. They can, of course, flounder even more intensely in an attempt to sip a breath of air. But it is much more useful to throw off the iron pulling to the bottom.