The Status of Household Financial Security in Ukraine in Conditions of Economic Instability
Journal Title: Бізнес Інформ - Year 2016, Vol 9, Issue
Abstract
The article is concerned with studying the status of financial security of the domestic households in the period of economic instability and its impacts on the well-being of the population of Ukraine. In the analysis and generalization of statistic data has been revealed that currently a considerable part of Ukrainian households live below the poverty threshold, which results in social tension and instability in the society, growth of emigration, deterioration of health and strengthening the processes of depopulation. It has been determined that the problem of increasing financial literacy can be attributed to the nation-wide problems because it is directly linked to the growth of competitiveness of the State as well as its financial security. The article substantiates the necessity of fixing the minimum wage through the orientation on the dynamics of average wages that would allow the use of a minimum wage in the role of protection against the fall of purchasing power as result of inflation. Prospect for further research is analyzing foreign experience as to ensuring the financial well-being of households, where great attention is paid to planning personal finance as one of the most effective methods to ensure financial security.
Authors and Affiliations
Marta Zvarych
Keywords
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