Main Forms of Financial Behavior of Youth (Based on a Sociological Study in Barnaul)

The relevance of the study of financial behavior forms of modern youth is due to the complexity of the economic and social environment in which young people are developing their initial financial strategies. In conditions of instability and rapid changes in market conditions, youth face the necessity of combining traditional and innovative financial practices, often lacking experience and knowledge, which leads to irrational and risky financial decisions. Special attention is given in the study to the influence of the parental family on the formation of financial habits and behavior models, as well as the interaction of cognitive, affective, and behavioral components that determine the choice of specific financial forms. Student youth strive for financial independence but often experience a conflict between the desire for independence and dependence on parental support. Generation Z youth are characterized by a clip-based thinking style, a tendency towards risk-taking, and a search for new financial instruments. Emotions contribute to irrational consumption, increasing vulnerability to financial risks and loans. The key methods for collecting empirical data were mass surveys and focus groups. The sample consisted of youth from the city of Barnaul (n=218). The sample was constructed based on a cluster sampling principle with elements of spontaneous selection. The prevailing part of the youth in the city of Barnaul is characterized by a variety of financial behavior forms, with the consumer model remaining dominant. This manifests in regular expenditures on everyday needs, a tendency towards impulsive purchases, and demonstrative consumption, especially among vocational students. At the same time, working youth demonstrate a higher level of financial independence and use a wide range of financial strategies. Despite this, forms of long-term financial protection, such as insurance and pension planning, remain underdeveloped across all groups. General savings activity is present but is limited and short-term in nature, while investments are primarily evident among working youth. The high prevalence of credit forms reflects a trend among youth to perceive loans as a norm for acquiring goods and services. Thus, the financial behavior of Barnaul youth is primarily oriented towards short-term needs and current expenses, indicating the necessity of increasing financial literacy and developing educational programs tailored to the real needs of young people to form sustainable models of rational financial behavior.

financial behavior, youth, generation z, financial literacy, socialization, income rationality, lending, emotional financial behavior, financial independence, forms of financial behavior