The role of consumer lending in increasing the country’s standard of living

In the article, the author examines the impact of such an economic category as consumer credit on labor efficiency, the social sphere and the standard of living of the Russian population as a whole. Based on the results of the study, it is concluded that consumer lending is an important tool on the path to increasing the standard of living of the Russian population, increasing the speed of trade turnover and, as a result, improving the economic sphere of the state.