Improving Financial Literacy: Problems and Solutions

Student: Tumanova Kristina

Supervisor: Andrey B. Suslov

Faculty: Faculty of Economics, Management, and Business Informatics

Educational Programme: Public Administration (Master)

Final Grade: 9

Year of Graduation: 2016

Low level of financial capability is an actual problem of modern society. This problem directly affects on economic and social growth. Russian and foreign companies confirm that Russians have a low level of financial capability. Based on the Standard&Poors research findings was identified that only 38% of Russians have a high level of financial capability. The evaluation of real life issues in Russia and foreign countries shows that raising of financial capability level should have a complex approach. Within the frame of current research the site ProFin was developed. The goal of site is to increase people's financial capability. The site was tested on the target group and on potential group of users. Based on the test results there were defined pros and cons of the site and some recommendations for improving site were declared too.

Full text (added May 24, 2016)

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