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Higher school students' participation in financial literacy of population in the region

Vol. 24, Iss. 12, DECEMBER 2018

Received: 5 July 2018

Received in revised form: 4 October 2018

Accepted: 18 October 2018

Available online: 24 December 2018

Subject Heading: Financial system

JEL Classification: A20, D14, D53, E44, Q12

Pages: 2805–2818

Dmitrieva O.Yu. Chuvash Republican Institute of Education, Cheboksary, Chuvash Republic, Russian Federation

ORCID id: not available

Krylov V.V. Central Bank of the Russian Federation, Moscow, Russian Federation

ORCID id: not available

Dmitriev Yu.P. Chuvash State Agricultural Academy, Cheboksary, Chuvash Republic, Russian Federation

ORCID id: not available

Subject The article addresses financial literacy and financial culture of Russian citizens. Involving students majoring in economics in activities aimed at financial education of Russian citizens is a possible solution to problems related to the present-day society development.
Objectives The aim is to reveal and evaluate the potential for engaging the higher school students in people's financial awareness enhancement in regions.
Methods The study draws on general scientific methods, economic, statistical, and abstract-logical methods and techniques.
Results The proportion of rural population in Chuvashia is high. One of the ways to build financial culture of people in the Republic is to nurture volunteering activities and voluntary initiatives among university students in the field of financial education, to inform and give advice to village inhabitants about the existing forms of State financial and credit support to development of agriculture, village areas, private farm households, and rural cooperatives. The findings may be used for improving the system of financial literacy in regions with similar parameters of social and economic development.
Conclusions Direct participation of socially active youth in the financial education of rural population, on the one hand, contributes to personal and professional self-realization of volunteer student, and on the other hand, to formation and spread of financial knowledge in regions.

Keywords: financial awareness, financial literacy, financial education, population, volunteering


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