Assessment of financially literate behavior: from increasing financial literacy to forming financial culture

Abstract

The article discusses scientific approaches to the study of financial behavior, Russian experience in studying financially literate behavior, and provides definitions of basic concepts. The relevance of studying and forming the financial culture of the population is substantiated. Weaknesses in the studies of financially literate behavior are presented. The authors have developed a methodology for the sociological measurement of financially literate behavior based on the results of expert semi-structured interviews. The high significance of the socio-cultural criterion in assessing financially literate behavior is shown. The work explores the possibilities of developing methodological approaches to measuring the level of financial culture of the adult population, interpreting the formation of financial culture through the categories of “high level”, “medium level”, “low level”, and identifies the rank and weight of each of the indicators used to calculate the index of the development of financial culture.