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Empirical evidence of financial literacy in the adult population during almost 10 years shows stable financial illiteracy of Russian population. By financial literacy Russia consistently occupies one of the last places in the surveys made by different researches, and does not improve its score with time. Financial illiteracy negatively effects Russian financial market’s stability and economic growth of the country. Numeracy and capacity to do calculations related to interest rates lies in the root financial capabi...

Financial literacy is one of the basic skills and competences allowing individuals to fully integrate into the financial system and feel comfortable in the modern society. The financial literacy of the population is important not only for financial specialists but also for the government, financial institutions, universities and nongovernmental organisations. According to an OECD report, Latvia was ranked above the average level with regard to financial literacy. How has this been achieved? The government focused ...

The aim of the paper is to measure the level of financial literacy of students of the Social Work study programs in their last study year, as many experts are convinced that social workers are suitable professionals to help individuals and families with an advisory on finance and debt counselling in the context of accompaniment and social counselling. The authors chose a quantitative research strategy and used the data collection method of a questionnaire, which was composed of three parts: socio-demographic chara...