ПРАКТИКА ТА ПРОБЛЕМАТИКА ВИКОРИСТАННЯ В УКРАЇНІ РИЗИКОВИХ ТА БЕЗРИЗИКОВИХ ІНСТРУМЕНТІВ ЗАОЩАДЖЕНЬ ДОМОГОСПОДАРСТВ

Abstract

The aim of the article is to classify and characterize financial instruments of household savings and analyse the practice of their use in Ukraine in 2010–2020, identify the advantages and disadvantages of using risky and risk-free financial instruments of household savings. The financial instruments of household savings are a bank deposit, securities (stocks, bonds), investment fund shares and trust management of personal funds. Financial instruments for making savings are classified into risky and non-risky. Under risky were considered instruments for which the yield is not determined in the future. The classification of financial instruments into risky and risk-free allows us to identify the advantages and disadvantages of each of them, to explore the practice and issues of their use in Ukraine. In writing the work used analysis and synthesis as methods of theoretical knowledge of phenomena and comparison as an empirical method for research. For conducting research and substantiation of relevant conclusions, the indicators of the average annual yield on deposits in banking institutions, the average annual yield on ordinary shares of Ukrainian enterprises, and the annual rate of change in prices for goods and services (inflation) for the period 2010–2020. The study was performed on the materials of the State Statistics Service of Ukraine, the National Bank of Ukraine, and the Ukrainian Stock Exchange. In particular, the practice of using a bank deposit as the most common risk-free financial instrument among households and ordinary shares as one of the most accessible risky financial instruments for households was studied. It was studied that risk-free assets (on the example of term bank deposits) are a more reliable financial instrument of household savings but less profitable than risky instruments (on the example of Ukrainian stocks). Quantitative measurement of the ratio of risky and risk-free financial instruments in the structure of the household budget will deepen existing approaches to understanding the process of personal income and expenditure management and opens prospects for further research in this area of financial science.