Scientific and practical journal
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Regional Economy
   



Journal Regional Economy -- re2024.02.114

Repository of Institute of Regional Research UDC 332.146.2:338.124.4:336:330.16; JEL G50, G51
Voznyak, H. V., & Kaspshyshak, A. V. (2024). Determinanty formuvannya finansovoyi povedinky domohospodarstv rehionu v umovakh suchasnykh vyklykiv [Determinants of the formation of financial behavior of households in the region in the conditions of modern challenges]. Rehional'na ekonomika - Regional Economy, 112 (2), 114-126. DOI: https://doi.org/10.36818/1562-0905-2024-2-11 [in Ukrainian].
Sources: 17

Authors



Voznyak Halyna Vasylivna

Doctor of Economics, Senior Researcher

Leading Researcher of the Department of regional financial policy of the Dolishniy Institute of Regional Research of NAS of Ukraine

Contacts: gvoznyak@gmail.com

Webpages:



Kaspshyshak Andriy Volodymyrovych

Postgraduate of the Department of regional financial policy of the Dolishniy Institute of Regional Research of NAS of Ukraine

Contacts: andriyy111@gmail.com

Webpages:

Resume

The purpose of the article is to study the factors that determine the financial behavior of households in the region in conditions of economic and social instability, as well as to develop recommendations for managing financial resources in conditions of unpredictability and instability. The article aims to highlight the main influencing factors that determine decisions regarding the management of financial resources, in particular, the formation of the level of savings, investment, and consumption. This article examines the main factors shaping the financial behavior of households in the region in the face of modern challenges. Models of the financial behavior of households are formed and the key factors influencing their spending, savings, and financial management are identified. The influence of modern economic and social challenges on consumer behavior is analyzed. The impact of the COVID-19 pandemic on financial behavior is analyzed and financial management strategies in conditions of economic uncertainty are identified. The importance of the response of households to economic instability is emphasized and the main trends in changes in spending and consumer strategies are described. The impact of changes in the population’s income on consumption is analyzed in detail, and practical recommendations for managing finances in the face of modern challenges are formulated. The importance of responding to economic and social changes for the formation of stable financial strategies is indicated. Prospects for further research in the field of financial behavior and the need to improve financial management methods are highlighted. As a result of the research, conclusions are made regarding the key factors of the financial behavior of the population in the conditions of modern challenges, and the importance of understanding and analyzing the financial behavior of households in the modern economic environment is emphasized. The article argues that improving financial management strategies can contribute to more stable economic development and reduce risks for the population in conditions of instability.

Keywords:

household, household finance, household income, household expenditure, household financial behavior, instability, financial strategies, financial risks, region

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