Analysis of indicators of financial behavior of Moscow youth in modern realities
Research Article
Acknowledgments
The publication was prepared within the framework of the research project of the Financial University under the Government of the Russian Federation: «Youth in the financial market: features of behavior and factors of influence»
How to Cite
Alikperova N.V. Analysis of indicators of financial behavior of Moscow youth in modern realities. Living Standards of the Population in the Regions of Russia. 2022. Vol. 18. No. 1. P. 92-106. DOI: https://doi.org/10.19181/lsprr.2022.18.1.8 (in Russ.).
Abstract
The large-scale transformations that have taken place in Russia over the past 25 years have caused the intensive development and meaningful content of a special type of economic behavior of the population - financial behavior. It has become an integral factor determining the material well-being of citizens, affecting the socio-economic level of development of regions and the country as a whole. Young people, as a special group of the able-bodied population, are increasingly becoming the object of research on financial literacy, motives, and strategies of financial behavior, and a wide variety of methods for studying financial literacy of the population gives ample opportunities to choose indicators that have a key role for the study of financial behavior of young people. As for indicators of financial behavior of young people, the author suggests the following: methods of maintaining a personal budget, including criteria for managing your own funds, accounting for income and expenses; forms for saving savings (retrospective, current situation, perspective); assessment of financial instruments in terms of reliability, profitability, and accessibility; savings goals; indicators of credit behavior – readiness and plans for loans; indicators of investment behavior – investment activity, goals, tools, awareness, decision-making criteria. This article is a continuation of the reflection of scientific results in relation to the study of the behavior of young people in the financial market. Part of the results representing the monetary attitudes of young Muscovites that determine the choice of behavior strategies in the financial market is presented in No. 3 2021 of this journal. The current issue of the publication already presents the results devoted directly to the strategies of financial behavior of young people in Moscow. As a result of the conducted research, the peculiarities of financial behavior of young people were identified on the basis of the proposed indicators, and recommendations were developed for state bodies regulating the activities of financial market participants, the Central Bank of the Russian Federation, as well as financial institutions and educational organizations on the transformation of financial behavior strategies of young people into more literate forms.
Keywords:
financial behavior, financial behavior strategies, financial literacy, savings, loans, investments, financial market, youth
References
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2. Gorshkova N.V., Ksenia V.M. Models of financial behavior of the population in the conditions of nanoeconomics (tax aspect). Vestnik Volgogradskogo gosudarstvennogo universiteta. Ekonomika. 2019. Vol. 21. No. 4. P. 207-218. DOI: 10.15688/ ek.jvolsu.2019.4.20 (In Russ.).
3. Kuzina O.E. Financial strategies of Russians and the horizon of financial planning. Banking business. 2013. No. 4. P. 23-30. (In Russ.).
4. Litvinova V.V. Financial behavior of a person and its determining factors. Zhurnal Economicheskoj Teorii. 2020. Vol. 17. Iss. 1. P. 230-237. DOI: 10.31063/2073-6517/2020.17-1.19 (In Russ.).
5. Malkina M. Yu., Rogachev D. Yu. The influence of personal characteristics on the financial behavior of young people. Journal of Institutional Studies. 2019. Vol. 11. No. 3. P. 135-152. DOI: 10.17835/2076-6297.2019.11.3.135-152 (In Russ.).
6. Medvedeva E.I., Yarasheva A.V., Toreev V.B., Kroshilin S.V. Financial strategies of residents of Russian cities. National interests: priorities and security. 2016. Vol. 12. No. 3 (336). P. 4-14. (In Russ.).
7. Nanakina Yu.S., Ryabova O.N. New models of consumer and savings behavior as indicators of household welfare and factors of economic growth of the country. Electronic scientific journal «Century of Quality». 2021. No. 2. P. 135-144. (In Russ.).
8. Sushko E.Yu. Financial behavior of the population and its determinants. Finance and credit. 2017. No. 12 (732). P. 670-682. (In Russ.).
9. Usova L.V., Samoylova E.M. Methodological aspects of financial behavior research. Integration of sciences. 2019. No. 1 (24). P. 46-48. (In Russ.).
10. Yarasheva A.V. Behavioral economics: a study of expectations and strategies of the population. Economics and management. 2020. vol. 26. No. 3 (173). P. 264-272. DOI: 10.35854/1998162720203264272 (In Russ.).
11. Yarasheva A.V., Makar S.V., Reshetnikov S.B. Features of economic behavior of the population in modern Russia. Beau Bassin: LAP LAMBERT, 2018. 58 p. (In Russ.).
12. Ciumara T. Factors Influencing Individual Financial Decisions: A Literature Review. Conference: Globalization, Intercultural Dialogue and National Identity. GIDNI, At Targu Mures. 2014. Vol. 1. P. 421-428.
13. Collins, J.M. Financial Advice: A Substitute for Financial Literacy? Financial Services Review. 2012. No. 21. Р. 307-322.
14. László C. The Determining Factors of Financial Culture, Financial Literacy and Financial Behavior. Public Finance Quarterly. 2020. Vol. 65. No. 1. P. 67-83.
15. Zait A., Bertea P.E. Financial literacy – conceptual definition and proposed approach for a measurement instrument. Journal of Accounting and Management. 2014. Vol. 4. No. 3. P. 37-42.
Article
Received: 07.12.2021
Accepted: 20.01.2022
Citation Formats
Other cite formats:
APA
Alikperova, N. V. (2022). Analysis of indicators of financial behavior of Moscow youth in modern realities. Living Standards of the Population in the Regions of Russia, 18(1), 92-106. https://doi.org/10.19181/lsprr.2022.18.1.8
Issue
Section
ECONOMIC RESEARCH
