The Financial Literacy of the Population as a Factor of Social Development

Abstract

The proposed work examines financial literacy from the point of view of social awareness of the younger generation, reveals the essence of financial literacy as a system of knowledge, skills, skills and attitudes in the financial field, and defines the current tasks aimed at increasing financial literacy in Russia. The development of market relations, the trend of global globalization, the availability on the market of a wide range of previously unknown financial goods and services often lead Russians into confusion, posing problems for them, to which they are not properly prepared. All categories of citizens need financial education. A decent level of financial education allows adults to organize effective management of personal finances, optimize the ratio of savings to consumption, plan future pension provision, objectively assess possible risks and make reasonable decisions when investing own capital. The growing generation of financial education allows you to understand the value of money, serves as a basis for acquiring the basics of budget planning and savings, in general terms allows you to understand the essence of the financial market and products offered on it. Financial literacy is a complex of knowledge, skills, attitudes and behaviors in the financial field and personal socio-psychological characteristics, the formation of which determines the possibility and degree of a person's readiness to successfully perform a variety of socioeconomic roles, such as a householder, investor, borrower, taxpayer, e. Financial literacy makes it possible to determine at what level the student's financial relationships are with the society, in addition, it is an integral part of the student's social competence. Knowledge, skills, attitudes and attitudes in the financial sphere are cognitive, active and motivational-value elements of financial literacy. As a result of the given research we exmind summarized Russian Federation experience in propaganda of economic literacy.