Comparative Analysis of Financial Literacy Among Generations in Modern Russian Conditions

Abstract

The urgency of the problem of formation and improvement of the level of financial literacy of the population is beyond doubt. By far, the most vulnerable social group here is the older generation. However, young people also need this competence.
 Purpose: this article describes the study of the level of financial literacy of generation Z and Y on the subject of knowledge of the operations of the gold and foreign exchange market; representations and concepts of modern economics; banking transactions; the subject of international trade, as well as international currency.
 Methods that were used in the research process: comparative analysis and synthesis, dialectical approach, sociological survey.
 Results: the authors conclude that Generation Z is less educated in terms of having and using financial knowledge than Millennials, and this is explained by the following facts: less life experience, focus only on the present, low interest in finance as a source of self-development opportunities.

Student Perspectives on Financial Literacy to Support Entrepreneurial Character

“…The thing that needs to be instilled for students is that financial literacy is an essential life skill that needs to be possessed because in carrying out daily life activities from waking up to returning to the bedroom cannot be separated from financial transactions. A person's thoughts about the importance of understanding financial literacy will have an effect on their lifestyle (Maltseva et al, 2022).…”