Theoretical justification of the culture components of financial relations

Abstract

The article is devoted to defining the categories of financial education, financial awareness, financial literacy, financial culture and culture of financial relations. In the conditions of the strengthening of the financial and economic crisis in Ukraine as a result of military operations, the urgency of improving the general financial culture of the population as a guarantee of the financial system's exit from the long-term crisis, preserving the country's financial stability and ensuring sustainable development in the future has become acute. Based on the results of the USAID and NBU research, the article provides an assessment of the level of financial literacy of the population in Ukraine, and a comparative analysis of the components of the financial literacy index in 2019-2021. Against the background of solving the problem of increasing financial literacy, which is inherent not only to Ukrainian society, but also has a global character, the relatively new concept of "culture of financial relations" has become widespread. The culture of financial relations as a synergy of universal and spiritual values, on the basis of which financial relations are built, can exist only in a society with a sufficient level of financial culture and literacy of subjects of financial relations. The article defines the main elements of the culture of financial relations, namely financial awareness, financial education, financial culture and financial literacy. The established relationship between them made it possible to create a hierarchical structure of the components of the culture of financial relations in society, which includes a basic level (financial awareness), a professional level (financial education), a mandatory level (financial culture and financial literacy) and a higher level (culture of financial relations). On the basis of the conducted research, it was established that the formation of the culture of financial relations characteristic of a developed society in Ukraine will contribute to shortening the time of exit from the financial and economic crisis, achieving financial stability in the state and sustainable development in future. Keywords: financial awareness, financial education, financial literacy, financial culture, culture of financial relations.