Financial illiteracy of the population: problems and consequences

The article reveals the issues of financial illiteracy among the population of the Russian Federation. The reasons for this phenomenon are analyzed, the factors influencing the growth of financial illiteracy are identified. The issue of reflecting financial illiteracy in the pension system is revealed. The article concludes that the negative impact of financial illiteracy of the population on the country's economy is manifested primarily in the lack of investment, a large number of loans from individuals, rising inflation, and the growth of fraudulent transactions.