Here are some key points:

• Budget and savings: Knowing how to create a realistic budget (income vs. expenses) is essential. I always recommend setting aside at least 10–20% of your income for savings, to have a cushion for unexpected expenses. Without discipline in this area, even a good salary can disappear quickly.

• Interest and debt: Understanding the cost of borrowed money is vital. A loan with a 20% annual interest rate can double your debt in just a few years. I teach that not all loans are the same: there are “good” debts (such as a student loan or a low-interest mortgage) and “bad” debts (credit cards with high interest rates). The danger lies in not understanding compound interest: what seems small today can grow significantly.

• Investment instruments: Learn about different ways to grow your money. For example, talking about savings accounts is just the beginning. Ideally, you should learn about mutual funds, bonds, stocks, or real estate. Personally, I use this simple example: Not investing is also a way of losing (Inflation causes idle money to lose value over time.) I teach young people to diversify: never put all your eggs in one basket.

• Tax and Social Security Planning: Understand how taxes and retirement contributions work in each country. It’s surprising how much money you can save by negotiating your job effectively, claiming legal benefits, or contributing to retirement plans wisely. One lesson I’ve learned is that taking advantage of legal tax deductions can leave you with more money in your pocket than many savings plans.

• Emergency management: Buying basic health, life, or auto insurance is something that’s rarely taught, but it can save your personal finances. In my informal workshops, I always say that an unexpected health issue or a car accident can ruin anyone financially if you’re not prepared.

• Mental habits and negotiation: Finally, there is a psychological aspect. Habits such as putting off important financial decisions (a kind of financial procrastination) or the fear of investing are worth addressing. Furthermore, negotiating a salary or asking for a raise isn’t something you learn from economics textbooks: I myself learned to hone that skill through practice, and now I encourage young people to prepare themselves to speak confidently in job interviews.