Financial socialization as type of subject-specific socialization of young adults

The paper includes an overview of the types of socialization, systematized it and singled out the subject-specific group. In our studies financial socialization in this group is the most significant. This type of socialization is not adequately explored in Russian science due to the fact that financial services for households have been offered for a rather short period of time. The importance of financial socialization for households is really significant, taking into consideration global fraud in financial sphere. Therefore, in the paper we sorted out the knowledge which is delivered during financial socialization by various institutions. Problems of financial socialization have been considered according to the results of the annual surveys of the Tomsk state university students about their households. The questionnaire included such aspects as types of students' households and elements of the financial structure of their medium-term financial goals. The survey is part of the «Household finance» course. It helps each student to analyze their own finance and gives us the basis to analyze the level of students' financial socialization. The following characteristics are considered to confirm financial socialization: a) running a household separately from parents; b) independent income, including unearned income (pension, grants), excluding remittances from parents; c) experience of making financial transactions (credit cards, bank loans, savings); d) accounting of income and expenses; e) presence of medium-term financial plans to generate additional unearned income. The research showed that the share of completely financially socialized students is small and accounts for 5,4 % (out of 112 interviewed students of full and part-time education) according to 2015.

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