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ИД «Финансы и кредит»






Digest Finance

Classification of households' financial risks

Vol. 21, Iss. 3, SEPTEMBER 2016

PDF  Article PDF Version

Received: 21 June 2016

Received in revised form: 4 July 2016

Accepted: 11 July 2016

Available online: 19 September 2016


JEL Classification: C53, C54, G18, R58

Pages: 49-60

Mgeryan M.A. Volgograd State University, Volgograd, Russian Federation

Importance As part of their activities, households and their members are exposed to various risks. The risks influence, directly or indirectly, family and/or personal financial position. The article studies the system of households' financial risks.
Objectives The research consistently classifies financial risks of households and their members, considering their specifics.
Methods The research involves methods of analysis and synthesis, graphical and factor analysis, and comparative analysis. Grouping and matrix methods help to systematize financial risks associated with households.
Results I classified financial risks of households by supplementing conventional groups of risks with my own aspects, i.e. consequences, aspects exposed to risks, the way exposed aspects change. The risks are systematized with the matrix method per their effect on certain items of households' finance, and presented graphically. Financial risks may reduce, increase households' finance or cause their loss. As part of my approach to identifying items of households' finance, I structure households' finance from a dual perspective, i.e. financial flows and funding of households.
Conclusions and Relevance The basic matrix of financial risks summarizes all specific types of households' risks. Each item of households' finance unfolds a broad view of risk factors and respective mitigation methods.

Keywords: household, financial risk, risk matrix


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