To Bank Or Under Mattress? At KBSU Studied To Manage Money With The Mind

December 24 at the Kabardino-Balkarian State University named after H. M. Berbekov as part of the project “Teaching students of pedagogical specialties in the methodology of teaching financial literacy courses in institutions of general, secondary vocational and additional education in the Russian Federation” implemented a scientific-practical seminar “Financial literacy as a competence of a modern person and teacher”.

The Minister of Education, Science and Youth Affairs of the KBR, Aues Kumykov, who was present at the seminar, spoke about the importance of being financially literate in the modern world:

The financial aspect affects almost all spheres of life activity of a modern person; therefore, the fight against financial ignorance is important both in relation to each person and in general for the state. Introduction to the school or university program of development related to the achievement of financial education of people, becomes a key point not only for the Russian Federation, but also for the majority of developed countries.
Ekaterina Lavreneva, an expert on educational programs of the project, a representative of the International Financial Center (Moscow), a consultant to the Ministry of Finance of Russia, co-author of financial literacy training packages for schoolchildren, conducted a master class with students of pedagogical specialties on teaching methods of financial literacy.

«Anyone who possesses the necessary knowledge in economics and finance can use his own savings and financial resources as a whole competently and profitably. Financial literacy allows you to fully implement the accounting of funds, to avoid unnecessary spending, as well as debt, teaches you to plan the budget, which is important for its preservation. The habit of spending more money than you can afford is becoming one of the causes of poverty. In addition, knowing the basics of financial literacy, residents of the country can easily navigate the most varied financial tricks that the economic environment offers today, accumulate and insure their own money», — Ekaterina Lavrenova instructed the audience.

During the seminar, students became participants of the interactive “How to use a bank card safely”. They learned what a bank account, bank card, and how a debit bank card differs from a credit card. In addition, they received a number of valuable advice on the preservation and wise use of personal funds, the creation of a “airbag” to be prepared for unforeseen expenses, etc.

Irina Petrulevich, a representative of the SFU, a professor at the Department of Special Historical Disciplines and Documentary Studies at the Institute of History and International Relations, and Murat Gukepshokov, the project tutors team, also spoke about the need to improve financial literacy and its significance in the modern world.