Management of personal investments in Russia and Sweden : Influence of financial literacy of young adults on their behavior in financial planning

Abstract: Background: Unawareness of most students about how to save and increase their money and changes in global economic conditions create new opportunities and challenges in international business and investment field. Lack of interest from investment companies, banks, funds, estate sellers and rialtos to this interesting and growing group of people, where even bringing up future clients in this young adults can play a big role in future success of the company. Behavior of students and young people is poorly researched, though they often dispose large sums of their own and their parent’s money. Purpose: understand specifics of Russian and Swedish customers, clarify whether they are planning their finance or not, how are they included into rational income allocation process. Find out how illiteracy in financial sphere between exploring group of people affects the behavior of Swedish and Russian citizens towards planning and what are the main differences between this groups. Method: Content analysis Results and contribution: This thesis extends the higher educational literature in the field of personal finance planning by making a contribution to enrichment of knowledge and identification of the main trends in the behavior of young people. The differences between Russians and Swedes will help state governments to make their society more educated and rationale in choosing ways to invest and disburse money and companies from investing field to attract more clients and gain revenue. The new openings can provide a framework for further research.