FOREIGN EXPERIENCE OF DETERMINANT DEFINITION FINANCIAL LITERACY

Abstract

The current state of financial literacy of the population in Ukraine is considered, the reasons of unsatisfactory situation in this sphere are defined. It is noted that financial literacy of the population is a key point for further development of a successful society, only financially savvy citizens can rationally form and use their own budget, make sound financial and economic decisions and navigate in modern financial instruments and services offered en masse. And a society consisting of people who use their financial resources wisely and correctly, understand the details of obtaining and using credit, consider opportunities to open and develop their own business, ways and conditions of implementing their business ideas, strengthen their economic and financial position is financially literate society. The determinants, experience and current approaches of the USA, Great Britain and other countries of the world on the possibilities of transforming the education of the population are generalized. Emphasis is placed on the complexity of resolving issues related to bringing the opportunities for the development of life competencies of the population of the country in line with the prospects. The modern experience of financial development is studied, the basic directions of increase of financial literacy of citizens taking into account the advanced world experience are offered. It has been proven that despite the large number of studies of financial literacy, the problem of achieving its high level remains relevant, as ensuring the well-being of citizens is closely linked to the interests of the state by attracting resources to the financial services market.