Financially competent behaviour of Russian people: factors of forming

The Object of the Study. Financially competent behaviour. The Subject of the Study. Factors of forming financially competent behaviour. The Purpose of the Study. Identification of factors influencing the formation of financial literacy behaviour based on the results of empirical studies of the level of financial literacy of the Russian population, the results of an expert survey in the framework of research «Institutionalization of financial literacy of the Russian population». The main Provisions of the Article. The formation of financially competent behavior is not only a prerequisite for the effective functioning and development of the entire financial system of Russiya, but also acts as a factor of material well-being of citizens, a smoothing element of differentiation in income. Changes in economic relations, the complexity of the financial market, its structure and products, as well as the transition to digital rails have led the population to the need of developing skills in the formation of financially competent strategies. To implement such strategies, it is necessary to have a resource and intellectual base among the population, as well as opportunities for the formation of an effective ecosystem of interaction between all participants in financial relations. The study identified the main trends in the financial behavior of Russians in modern conditions, factors affecting the choice of certain strategies of financial behavior, as well as conditions for the transformation of these strategies into new forms of financially literate behavior. Among the main we can note the low level of financial literacy of Russians, if anything, this trend can be traced from year to year, due not only to psychological and cultural aspects of behavior (inherent in Russians fear, uncertainty and insecurity, laziness, stereotyping, and shifting responsibility to third parties), but with the increasing complexity of the financial market as a whole, erroneous conception of the essence of certain concepts, and as a result, the alignment of financial strategies in accordance with this interpritation, the spread of the phenomenon gaining momentum - misseling, and may also indirectly indicate the inefficiency of the current system of improving financial literacy of Russians. According to the analysis of secondary data, government statistics public confidence in financial institutions, income level also influence on forming financial literacy strategies, which is confirmed by the data of the expert survey conducted within the project «Institutionalization of financial literacy of the Russian population».