Introduction. The relevance of the work is due to the global trend of increasing the financial culture of the population as a necessary condition for the effective functioning of the financial and economic sector. In the state policy, all age groups of the population are designated as target groups, each of which has its own goals for improving financial literacy. This article discusses more general goals that are achieved by improving the financial literacy of the population, and also examines in more detail the competencies assigned in higher education institutions [4].

Materials and methods. When working on the article, such research methods were used as an analysis of the scientific works of domestic scientists who study financial literacy as a necessary condition for creating the well-being of citizens, an analysis of the legal framework that regulates and determines the policy of improving financial literacy in Russia; the features and the need for financial knowledge for each age are considered and the main competencies that are instilled in obtaining this knowledge are identified.

Results. As a result of the study, the idea of the essence of financial literacy is summarized and supplemented, which consists in the totality of knowledge, skills and abilities that are the result of financial education, which give a person the ability to analyze and correctly interpret economic events, apply the rights of consumers of financial services and know where to turn to if they are violated; the ability to use tools for pension savings; understand the specifics and scope of new financial, banking, insurance, investment products and services; understand the mechanism of the tax system.

The article indicates the need to move from a subject-knowledge model of education to teaching financial literacy through the introduction of competence-oriented tasks of increased complexity; the categories of competencies “to know”, “to be able” and “to own”, which are possessed by people and, in particular, students with a high financial culture, are defined; the problems faced by the population that does not have the necessary financial knowledge, skills and abilities for a comfortable and prosperous life in a constantly evolving world and a high degree of future uncertainty are identified.

Discussion. Factors such as political crises and, as a result, economic crises, the emergence of new financial, banking, insurance, investment products and services on the markets and the lack of appropriate knowledge, skills and abilities among the population to use them to reduce the uncertainty of the financial and economic component life, have conditioned in many countries of the world the need for the implementation of educational policies in the issue of increasing financial literacy. Within the framework of this goal, the governments of states form national strategies and, within the framework of these strategies, programs and projects of financial education of the population are implemented. The validity and necessity of conducting a state policy to improve the financial literacy of the population lies in the fact that a high level of financial literacy of the population has a positive effect on the welfare and financial potential of households, contributes to the development of the financial market, accelerates investment processes in the economy, improves the resource base of financial organizations, and, as consequently, improves the overall socio-economic situation of the country [2].

In conditions of instability and low predictability of changes in financial markets and services, the need of the population to acquire knowledge, skills and abilities that will allow them to effectively manage personal finances, competently carry out pension savings, keep track of household income and expenses, optimize the ratio between income and expenses, understand way in financial services, securities market instruments, banking products in order to make informed and informed decisions. The listed categories of competencies are instilled in educational institutions of all levels of education.

Conclusion. The rapidly changing living conditions of the population, complex financial services and banking products appearing on the markets, investment methods and other factors require a person to have deeper financial knowledge, skills and abilities in order to improve the quality and security of his life. And since the level of development of the country's economy depends on the involvement in financial transactions of economic entities and households, the issue of improving financial literacy becomes very relevant. In most countries of the world, a state course has been taken to improve financial literacy, and Russia is no exception. For these purposes, strategies, programs and projects are being developed, and educational organizations of all levels of education are becoming the main executors of the state policy to improve financial culture. This article discusses the relevant competencies of educational programs of higher educational institutions.

A theoretical and methodological analysis of the relevance of the issue of financial literacy of the population was carried out;

The essence of financial literacy and competencies that a person should have within its framework are revealed.

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