Modern methods of managing household finances in Russia

In today’s world, the household is an essential part of a country’s economy, and the efficiency and quality of household activity determine a country’s well-being. In order to function effectively in a country’s economic system, the household has to analyse the needs and desires of the immediate participants. The data then informs the creation of savings opportunities and goals. In addition to setting the direction and objectives of household financial management, the immediate participants in the household make an indicative assessment of the financial resources they need to meet their needs. The economy of the household is based on a rather complex and contradictory set of relations between its participants. These relationships are determined by differences in age, character traits, habits of people, the unequal level of their needs and incomes. At the same time, the normal development of the household is possible only if the participants find mutual understanding when making economic decisions. Coordination of the socioeconomic interests of different members of the household is ensured by the regulation of these interests, which implies a possible change in the part of disposable income that comes to one member of the household.