He named the top 5 habits that prevent you from accumulating

One of the main problems is uncontrolled spending. Citizens often spend money on unnecessary things or succumb to impulse purchases. According to the analyst, to get rid of this bad habit, it is worth:

• make a budget and share all your income and expenses;
• track expenses using special applications or registers;
• Limit trips to the store and online purchases so you don’t make impulse purchases.

The second problem on the path to financial well-being is loan dependency. Instead of saving, you will have to pay interest on the loans. To avoid this, Zhuravlev recommends:

• gradually pay off existing debts, starting with the most expensive in terms of interest;
• do not take new loans unless absolutely necessary and study the conditions for granting loans;
• Get in the habit of setting aside part of your funds for contingencies.

The third habit that prevents you from saving is lack of financial goalsto prioritize:

• determine the purpose for which you want to spend your savings: travel, education, housing, etc .;
• make a plan to achieve the goals, dividing them into short, medium and long term;
• they regularly set aside a portion of their income for these purposes.

The fourth problem on the road to success is investment abandonment. So you may lose the opportunity to increase your capital. According to Zhuravlev, to include investments in your savings strategy, you must:

• explore various investment instruments: stocks, bonds, mutual funds, and deposits;
• determine your investment profile and the level of risk you are willing to work with;
• start investing regularly and for the long term to avoid losses due to short-term fluctuations in the market;
• Consider hiring a financial advisor for professional advice and assistance in building an investment portfolio.

And the final problem that prevents you from accumulating – lack of savings in daily life. Saving money in everyday life (cooking at home, using public transportation, eliminating unnecessary subscriptions and services, etc.) can go a long way toward saving money.