The budget is the first tool for managing personal finances, providing a clear map of income and expenses. Early formation of healthy financial habits helps in making responsible decisions and smart savings. This message was conveyed by the Romanian financial education expert, Irina Chițu, to the young participants of Global Money Week, organized by the National Bank of Moldova, reports IPN.

The sessions, held under the theme “Personal Budget in Real Life: How to Manage Your Money Smartly”, provided participants with practical tools for organizing personal finances. The young people learned to analyze their income and expenses, as well as to identify solutions for responsible money use.

“The budget is the first tool for our personal finances. It’s like a map that shows us where we are and how we manage our resources. There’s no need for complicated tools. Sometimes just a pencil and a piece of paper are enough,” said Irina Chitu.

During the workshops, the principle of “pay yourself first” was presented, which encourages saving as soon as income is received. Participants discussed reducing expenses, setting financial goals, and identifying small but frequent expenses that can affect the budget in the long term.

The International Financial Education Week is a global initiative involving 176 countries, aimed at developing financial skills and encouraging responsible behavior in money management. In the Republic of Moldova, the program is coordinated by the National Bank of Moldova.