PRINCIPLES OF ENSURING THE FINANCIAL WELL-BEING OF THE POPULATION IN THE CONDITIONS OF DIGITALIZATION
Abstract
The article analyzes the role of digitalization in ensuring the financial well-being of the population and provides an assessment of digital financial literacy as the principle on the basis of which this complex process takes place. During the study, it was determined that the development of digital financial services and technologies has fundamentally changed the way in which the population solves financial issues. It also mentions the risks that the digitalization of the financial sector may cause for users of mobile payment services. It is proven that the leading role of digital financial literacy in the era of digitalization of the financial sphere has caused the population to understand the principles according to which digital transactions take place and has given them the ability to use digital tools to plan the balance of income and expenses. Likewise, it is revealed that digital financial literacy is a necessary dynamic ability that allows people to thrive in the ever-changing digital financial landscape, rather than statically observing its changes, feeling the negative consequences of financial fluctuations. It is also emphasized that the key principle of ensuring the financial well-being of the population in the context of digitalization is the cooperation of the state, financial institutions and public organizations in the direction of informing people about new financial opportunities, their advantages and disadvantages and ways of using them based on previously acquired skills and digital financial literacy. Furthermore, it is mentioned that financial literacy skills and the ability to form a budget not only lead to an increase in the level of financial well-being of the population, but also pave the way for its financial autonomy. The study proposed prospects for further research in this direction, which may consist of an analysis of the Ukrainian specifics of the digitalization of the domestic financial sector in the context of its connection with the financial well-being of Ukrainians. In the author's opinion, this will allow comparing the experience of Ukraine and other countries of the world and developing recommendations to correct the negative processes that have become a consequence of digitalization, or to completely eliminate them.
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