Measures to Improve Financial Education in the Context of Digital Transformation

Nowadays, financial education in Russia is known to be a significant attention. An individual who is knowledgeable about financial principles will be better equipped to make informed decisions. Financial education encompasses personal finance management, including planning, investment, savings, and fraud prevention. The research aims to explore ways to enhance financial education for citizens within the Russian Federation. During this research, the authors employed standard general scientific methods: the method of observation, the system-functional approach, and the method of scientific abstraction. As a result, the authors found that regions with high levels of financial literacy include Moscow, St. Petersburg, and the Tyumen Region. All subjects of the North Caucasus have lower results. The findings obtained during the research can be utilized by economic authorities and applied in the teaching process of universities. As a result of the research, the following issues were identified in relation to the chosen topic: ignorance of legislative standards, or misinterpretation thereof, the lack of public awareness about products and services offered in the financial market, failure to account for income and expenses on the part of citizens, and the lack of access to financial education. To improve the level of financial education, the authors suggest the following measures: conducting educational discussions on financial matters, implementing professional development programs in finance, actively using information resources to acquire skills, organizing various events related to the study topic, including a finance-related subject in the secondary school curriculum, and creating a dedicated platform to publish relevant materials on the issue.