Impact of financial literacy of the population of the Russian Federation on behavior on financial market: Empirical evaluation

Abstract

The confident disposal of personal income based on survey of 1006 respondents, as well as the efficient management and use of different financial products and services, is impossible without basic knowledge and skills and an appropriate level of financial literacy. Financially educated citizens are more active on the financial market, have a smaller amount of overdue loans in bank, and more carefully plan their retirement. In our study, assessments of the level of financial literacy of Russian citizens are compared to their activity on the stock market.

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