METHODOLOGICAL ASPECTS OF FORMING FINANCIAL LITERACY IN CHILDREN AND YOUTH

Abstract

The article examines the potential of teaching financial literacy in the field of education and upbringing. The authors reveal methods and recommendations for teaching financial literacy from an early age, as well as the opportunities that this training can offer: education (basic knowledge in finance, budgeting; basic understanding of passive income, calculation of mandatory expenses of “adult life”), education (improving planning skills, gaining confidence in making independent decisions, formation of a responsible approach to the distribution of funds). The importance of financial literacy training is to acquire personal finance management skills, increase economic stability, develop critical thinking, and understand financial processes. The consequences of a low level of financial literacy education among young people are described: problems of understanding the value of money, misunderstanding of financial and economic processes necessary for life (deposits, loans, mortgages). The authors offer methodological recommendations for teaching financial literacy (the introduction of school courses on the basics of economics and finance, the participation of parents in the daily financial life of children, etc.)