THEORETICAL CONCEPTS OF FINANCIAL LITERACY IN THE 21ST CENTURY

Abstract

The study investigates the imperative of transforming education and consumer literacy within the context of rapid technological, economic, and social changes in the 21st century. It analyzes the gap between outdated educational models and the demands for competencies necessary to function under the conditions of the Fourth Industrial Revolution, with a particular emphasis on financial literacy as a key element of economic empowerment. The study views education as a dynamic, ecological system that requires the collective responsibility of all stakeholders. Through a synthesis of the literature, it highlights the necessity of developing critical thinking, adaptability skills, and the capacity for lifelong learning. The results indicate a direct link between financial knowledge, attitudes, and responsible behavior, as well as an alarmingly low level of financial literacy as a global problem with broad social consequences. The conclusion suggests that a systemic reform of education, focused on the practical application of knowledge and the early acquisition of financial competencies, is crucial for preparing individuals for the future and building a more sustainable and equitable society