Alexey R. (ILI) - On Money Management

Career? To me, the amount of money earned is more important. If a career is necessary for that, then I’ll pursue one. I need to earn enough to provide for myself and my family.

The ILI likes to distribute earned money wisely. You can visualize the sensation of a financial resource like this: you take a one-month timeframe and your money, and you see if it covers the month's expenses or not. If you don't distribute it carefully, it might not last. There are fixed costs that must be paid regardless: rent, phone, food, etc.—this minimum must always be covered. The second part goes toward clothes and necessities. The third part is set aside for large expenses or annual payments.

When I have a certain sum, it’s immediately clear how to allocate it and what it can be spent on. I have everything laid out for a year in advance for every month. I always know how much money will be needed and project everything until the end of the year.