Financial literacy factors: regional aspect

The article provides an overview of empirical research in financial literacy of the population and its determinants. The level of financial literacy of the population in the Chelyabinsk Region is assessed based on the use of a multidimensional indicator, which assumes three constructs: financial knowledge, financial skills, and financial attitude. A hierarchical model of socio-economic and demographic factors that determine financial competencies is compiled. A model of the regional profile of financial literacy of the population in the Chelyabinsk Region is developed on the basis of identifying specific factors. The conclusions are based on the results of economic and mathematical modelling and data from sociological surveys of the population. This data can be useful for government agencies to develop regional programs to improve financial literacy, as well as for financial institutions to effectively build regional financial strategies and develop products that are suitable for the client profile.