Microeconomics of personality and its role in the formation of financially literate behavior

To date, the problem of the formation of financially literate behavior of the population is one of the most significant on the agenda of the National Strategy for Improving Financial Literacy (2017-2023). Most countries, which in their socio-economic policy are based on the principles of national strategies for improving financial literacy, focus on the broadest segments of the population, assuming that each gender-age group is a potential participant in the financial market, a user of financial instruments and services, enters into heterogeneous financial and economic relations. The formation of financially competent behavior is not only a prerequisite for effective functioning and development of the entire financial system of Russia, but also acts as a factor of the material well-being of citizens, a smoothing element of income differentiation. Changes in the economic relations, complication of the financial market, its structure and products, as well as transition to digital rails have led the population to the need to develop skills for formation of financially literate strategies. To implement such strategies, it is necessary to have a resource and intellectual base among the population, as well as a favorable external environment in which opportunities for effective functioning and interaction of participants in financial relations are realized. As a result of the conducted research, the author proved that a person with personal and resource potential is a kind of microeconomics model, which, under the impact of situational and institutional contexts, influences the formation of needs, motives and goals for further actions in the financial market. Conclusions based on the results of these actions are deposited in a certain database in the form of accumulated experience, which, in turn, thereafter is affecting (interconnected) the resource potential and the personality itself. The basis of the microeconomics of personality is a chain of personal factors, the central link of which is the culture of individual, which is able to modify the other elements of personality.