On 13 October 2026, a scientific seminar entitled “Financial Literacy and Personal Budget Management” was held at Mingachevir State University (MSU). Organised by Arif Taghiyev, Senior Lecturer at the Department of Economics, the seminar brought together fourth-year students majoring in Finance and young teaching staff.

The main purpose of the seminar was to broaden participants’ financial knowledge and discuss theoretical and practical aspects of personal and family budget planning and the effective management of income and expenditure.

In his presentation, Arif Taghiyev discussed the importance of financial literacy in everyday decision-making and highlighted modern approaches to budget management. He emphasised the role of accurately assessing financial resources and planning expenditure in maintaining personal and family well-being.

As part of a historical perspective on the topic, the seminar also examined the ideas of Nasir al-Din al-Tusi, the prominent 13th-century Azerbaijani scholar and thinker, on household management and family income and expenditure in his work “Akhlaq-i Nasiri”. The relationship between these approaches and modern budget management was discussed.

The seminar highlighted the importance of applying financial knowledge in everyday life, using funds efficiently and developing responsible consumption habits. The joint participation of students and young teaching staff provided an opportunity to exchange views on the topic and share practical knowledge.