Bondareva S.A.Russian Presidential Academy of National Economy and Public Administration, Volgograd Branch, Volgograd, Russian Federation s.a.bondareva@mail.ru
Subject The article addresses personal finance and its potential for implementing the innovation-based model of Russian economy under the 'new normal' conditions. Objectives The purpose of the work is to determine the areas of personal finance potential use for the structural modernization of the Russian economy. Methods We apply general economic and statistical methods to analyze organizational and financial opportunities for the population of Russia to participate in the innovation and investment process. Results The statistical analysis shows an increase in nominal incomes of Russia's population during the period under analysis (2005–2015). Savings activity was observed even in the times of crisis. This proves the possibility of Russian nationals' participation in financing the structural modernization of the economy. The findings may be used to formulate strategic guidelines for Russian economy development and to improve the mechanisms of savings transformation into investment. Conclusions and Relevance It is required to create efficient instruments to encourage personal investment in human capital, securities and innovative entrepreneurship.
Keywords: personal finance, investment, modernization, economic growth
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