FINANCIAL LITERACY AS A GUARANTEE OF SOCIAL AND ECONOMIC DEVELOPMENT OF THE STATE

Abstract

Financial literacy plays an important role in the social and economic development of the state and its place in the world economic arena. In today's world, citizens with their personal finances become active participants in socio-economic, including financial, relations, so high economic development can be achieved through financial literacy of the population, because society achieves the greatest economic success when citizens have developed skills of acceptance responsible and conscious decisions in the financial sphere.

The article considers the essence of financial literacy of the population as a factor of economic and social development and welfare of the state; highlighted the general aspects of this concept.. The role of the state and special institutions in the process of raising the level of financial literacy of the population is determined. The aspect of financial education, which is necessary for any person in modern society, is indicated. It is noted that the state has a fairly large list of means of influencing the population both in the long run and in case of emergencies. The scheme of the external environment of the state which influences necessity of obligatory financial literacy of the population is presented. It is noted that in many developed countries the increase of financial literacy is an element of public policy and proposed a system of promotion and dissemination of financial literacy, which is the key to success and social and economic development of the state as a whole.