Financial literacy: gender aspect (on the materials of sociological research “Volgograd omnibus”)

The article substantiates the urgency of studying the differences in the level of financial literacy and financial behavior practices among men and women. The authors demonstrate approaches to the definition of “financial literacy”, widely used in foreign studies. The article substantiates the necessity of studying the processes of formation of financial literacy in the course of socialization, the necessity of assessing the role and tasks of men and women in these processes. The authors offer various levels of financial literacy from the point of view of socialization stages: a) active, passive; b) developed, undeveloped; c) formed, unformed. The proposed levels are presented in a single diagram. The authors review Russian and foreign research to study gender-specific financial behavior and financial literacy. The lack of elaboration of this problem and the lack of Russian studies on gender peculiarities of financial literacy are identified. The studies performed in different countries of the world (Brazil, UK, China, Malaysia, New Zealand) record a higher level of financial literacy among men, more responsible financial decisions taken by them over a wide range of available financial opportunities. The authors hypothesize the existence of differences in financial practices, common among men and women. For empirical verification of the hypotheses such financial practices as keeping records of income and expenditure of households, strategies in daily cash management, financial planning practice, as well as the attitude towards the possibility of establishing savings and loans, self-assessment of financial literacy, were chosen. The materials of sociological research monitoring aimed at studying the level of financial literacy of the population of the region, demonstrates gender differences in financial behavior.