THE DEVELOPMENT OF FINANCIAL LITERACY AMONG ADULTS IN THE CONTEXT OF NON-FORMAL AND INFORMAL EDUCATION

Abstract

Relevance. The transformation of the financial and digital landscape underscores the imperative of lifelong learning, requiring the adult population to constantly and promptly update their competencies in line with real-world practical demands. This necessitates transcending the boundaries of formal institutions and expanding the educational space through adaptive forms of knowledge acquisition. Consequently, the relevance of fostering adult financial literacy within the framework of non-formal and informal education lies in ensuring the continuous development of responsible financial behavior amidst ongoing economic volatility.

Purpose. To theoretically substantiate the distinctive features of fostering adult financial literacy in non-formal and informal educational settings and to articulate actionable recommendations for enhancing the efficacy of this process.

Methods. Analysis, synthesis, generalization, and systematization of academic literature and informational sources to refine core conceptual definitions; content analysis to examine the curricula and substance of contemporary educational courses, online platforms, blogs, podcasts, media resources, gamified tools, and other digital assets targeting adult financial education; comparative analysis to identify common and divergent characteristics of non-formal and informal modalities of adult financial literacy development; generalization and induction to formulate practical recommendations for the effective utilization of non-formal and informal educational potential in advancing adult financial literacy.

Results. The conceptual scope of "adult financial literacy development" has been clarified as a dynamic competence and a continuous process of internalizing responsible financial behavior models. Non-formal education (online courses, webinars, training sessions delivered by financial institutions and non-governmental organizations) is identified as a structured platform providing systematic mastery of foundational concepts, practical execution of financial decision-making, and direct methodological guidance from experts. The potential of informal education (social networks, thematic blogs, podcasts, gamified applications) is established as an agile, accessible environment for self-directed and situational knowledge acquisition. Based on comparative analysis, it is demonstrated that maximum synergy is achieved through the integration of both modalities: non-formal education provides core structural grounding, whereas informal learning ensures adaptability, continuity, and learner autonomy in a lifelong learning perspective. A comprehensive set of actionable recommendations has been developed, focusing on building competencies in long-term budgeting, contingency planning, emergency fund allocation, risk optimization, and investing.

Conclusions. The findings contribute to the theory of adult education within the lifelong learning paradigm. The practical value lies in the applicability of the formulated recommendations by educational providers, financial institutions, and civil society organizations to design high-impact financial capability programs and enhance the population's overall financial security.