FINANCIAL LITERACY AND ITS IMPACT ON THE POPULATION

Abstract

This article examines financial literacy as a socioeconomic category and a factor in the well-being of the population of the United States. It summarizes theoretical approaches to its definition, reveals its structural components, and describes its place in the human capital system. The influence of financial knowledge on household savings, investment, and debt behavior, as well as retirement planning, is analyzed. The macroeconomic significance of financial literacy is determined, including its role in the development of financial markets and the investment potential of the economy. Socio-demographic differences in the level of financial competence of the population are identified.