TARGET REFERENCE POINTS AND POSITIVE EFFECTS OF INCREASE OF FINANCIAL LITERACY LEVEL OF THE POPULATION
The aricle presents various approaches in understanding of financial literacy both in Russian and in world practice. Gives the essence of concept “financial literacy” in author's understanding. Financial well-being of the population in the conditions of the market is determined by the quality of management of the personal finance, thereby, forming the shape of national economy. At each stage of life cycle of the individual or a family there are concrete financial requirements. Hence, a sufficiently high level of financial literacy will help to be guided with a forthcoming choice of reality situations. Increase of level of financial literacy has a number of positive consequences for the state, business, households and economy as a whole, promoting prevention of social and economic mobility and closedness from the financial market.
Keywords: financial literacy, financial competence, components of financial literacy, financial well-being, financial behaviour, financial products
References:
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Issue: 5, 2015
Series of issue: Issue 5
Rubric: SECTORAL ECONOMICS
Pages: 69 — 74
Downloads: 823