Regional Practice of Coordination of Activities to Increase Financial Literacy of the Population

The level of financial literacy of the population plays a crucial role in the sustainable socio-economic development of the country. Russian regions are actively engaged in the process of enhancing financial literacy of citizens as part of the implementation of the Strategy for Improving Financial Literacy and Developing Financial Culture until 2030. However, each region adopts its own approach to the organization of the financial education system aimed at transferring financial knowledge and skills to all segments of society. At the regional level, coordination of stakeholder interaction in the field of financial literacy is one of the key factors in building an effective financial education system. This highlights the importance of conducting a study on the existing regional practices of enhancing financial literacy. The article presents the mechanism of coordination of stakeholder interaction in the field of improving financial literacy of the population on the example of the Chuvash Republic. The emerging coordination mechanism includes the establishment of a single coordinating body responsible for the overall coordination, implementation, and monitoring of activities; a unified structure for obtaining and disseminating information among stakeholders; and expert support of initiatives. At the regional level, the key centers of financial education system development are the regional centers of financial literacy. The article also identifies the factors directly affecting the development of financial education system, which are shaped at the state level and impact the national system of financial education as a whole; factors specific to the region; and factors that take into account the unique features of the regional system.