Financial literacy analysis: a comprehensive study

Abstract

Effective management of financial resources is becoming increasingly important with the development of the financial system. Low financial literacy can lead to difficulties, wrong decisions, increased debts and bankruptcy. Russian and foreign studies provide insight into effective strategies for teaching and improving financial literacy of the population. In this article, the authors present a comprehensive review of research on financial literacy in Russia and abroad. Through content analysis of scientific literature, they systematize and classify approaches to financial literacy and identify general requirements for its development. The authors also consider strategies to improve financial literacy in Russia. The conclusions emphasize the importance of financial literacy development as a key factor of financial well-being and recommend further study of the topic to develop effective teaching strategies. This article provides a valuable contribution to the understanding of financial literacy in different contexts.