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ИД «Финансы и кредит»






Finance and Credit

Foreign experience in improving the financial awareness of the public

Vol. 21, Iss. 24, JUNE 2015

PDF  Article PDF Version

Available online: 25 June 2015

Subject Heading: Financial system

JEL Classification: 

Pages: 27-33

Shibaev S.R. Plekhanov Russian University of Economics, Moscow, Russian Federation

Shadrina Yu.A. Plekhanov Russian University of Economics, Moscow, Russian Federation

Subject The article analyzes the level of financial awareness of the public. In particular, it considers foreign experience accumulated in this sphere. The issue is extremely important nowadays, as the ability to manage personal finance properly and efficiently is an essential part of modern life.
     Objectives The study aims to review the achievements of both developed and developing countries and to develop methodological recommendations for the Russian market.
     Methods We applied the comparative analysis as the main method of the study.
Based on the reviewed relevant foreign literature and the information from official websites of related foreign public agencies, we trace the evolution and consider major instruments of enhancing the financial literacy of the public. We present the prospects for this area development and emphasize that practically all instruments and techniques applied abroad may be implemented in the Russian Federation.
     Conclusions The findings of the study may help identify real possibilities existing in our country to further develop the financial awareness of people, and be interesting for both higher school students majoring in economics and a wide readership.

Keywords: financial awareness, finance, financial market, financial matters, financial literacy enhancement programs, financial security, financial education


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