Abstract
Financial well-being characterizes the provision of the inhabitants with basic goods and services and the standard of living of the inhabitants, which can be assessed by using certain indicators. Theoretical study of the standard of living and standard of living indicators of the inhabitants provides an opportunity to assess the standard of living of the inhabitants in Latvia. Clarification and evaluation of correlations between various indicators characterizing the standard of living of the inhabitants creates conditions for the development of proposals for raising the standard of living of the inhabitants in Latvia. The author of the article believes that Latvian government should implement measures that would reduce regional development inequality in Latvia. Equalization of regional development would promote the activation of entrepreneurship in specific regions, which would accordingly increase the income of the inhabitants for both entrepreneurs and employees.
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