Regional Differences in Income and Involvement in the Use of DFS as Factors of Influence on the Population Financial Literacy

Abstract

The article attempts to analyze the impact of regional differences in income and activity of using digital financial services (DFS) on the financial literacy of the population. The authors proceeded from the hypothesis that the effect of concentration of financial activity in large federal centers of the Russian Federation on other territories, in particular, the Sverdlovsk region, is approximated. The main research hypothesis is that the regular and active use of digital financial services is more inherent with people living in large settlements and having a relatively higher income; these two factors have a decisive influence on the level of financial literacy. The use of constantly developing digital financial services in everyday life allows people to visualize the dynamics of their financial capabilities, analyze and adjust the structure of financial resources, which increases financial knowledge and strengthens skills .