Financial Education in Modern Ukrainian Society: Tasks and Prospects

DOI

10.2991/aebmr.k.210320.052How to use a DOI?

Keywords

financial literacy, national strategy, educational perspectives

Abstract

The article considers financial education as a set of theoretical knowledge, as well as the ability of the population to use their knowledge in practice, the essence of which is to effectively manage their finances, accounting for income and expenses, the ability to navigate the features of various financial products and services. Consumers around the world, especially vulnerable groups, have very limited knowledge of financial products and concepts. They also have problems making long-term sound financial decisions and choosing financial products that meet their needs. The improvement of financial literacy is facilitated by the actions of governments through the development and implementation of national financial education strategies. An empirical study of the relevance of financial education in Ukraine has been conducted. The results of the study showed that in Ukraine it is necessary to intensify activities to promote financial literacy and create mechanisms to ensure it through the creation of a system of education. Prospects for the development of financial literacy are seen in the fact that financial education should be provided and actively promoted at all stages of citizens’ life on an ongoing basis; financial education programs should be clearly focused on the specific needs of citizens; consumers should receive educational services in the field of economics and finance as early as possible, starting with school; national authorities should consider including financial education in the compulsory school curriculum; educational programs of financial service providers must be legal, transparent and impartial. Particular attention should be paid to the fact that financial education should always serve the interests of the consumer.

Copyright

© 2021, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Hanna Tovkanets
AU  - Tetiana Kravchenko
PY  - 2021
DA  - 2021/03/22
TI  - Financial Education in Modern Ukrainian Society: Tasks and Prospects
BT  - Proceedings of the International Conference on Economics, Law and Education Research (ELER 2021)
PB  - Atlantis Press
SP  - 306
EP  - 310
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.210320.052
DO  - 10.2991/aebmr.k.210320.052
ID  - Tovkanets2021
ER  -