FEATURES OF FAMILY BUDGET FORMATION IN CONDITIONS OF FINANCIAL AND ECONOMIC INSTABILITY

Abstract

Introduction. In the conditions of financial and economic instability, approaches to the formation and distribution of financial resources of the state, business and households have changed radically. Therefore, the study of the structure and features of forming the family budget is an objective requirement of the time.

The purpose of the article.. Study of the essence, analysis of the structure and problems of formation of family budgets of citizens in Ukraine.

Results. The authors of the article suggest that the family budget should be considered as a plan for the formation and use of cash income to ensure the well-being and appropriate standard of family living over a certain period of time. The analysis of the income structure of family budgets shows that the largest share is wages 57%, social benefits and transfers – 21%, profit and mixed income – 15%, income from property – 7%. During the studied period, the average monthly pension increased by 86.2%, the stipend by 53%, the minimum pension by 33.4%, the subsistence minimum by 38.33%, but in dollar equivalent it is 23%, 1.8%, -11.8% respectively. Important factors affecting the incomes of Ukrainian citizens are: the level of development of the country’s economy; the size of state social guarantees, the level of labor productivity; unemployment rate; the level of purchasing power of citizens; inflation; the structure of citizens’ expenses. It has been studied that in the conditions of war, the number of Ukrainians living on the edge of poverty has increased by 1.8 million since 2020, one of the indicators indicating a decrease in the level of income is an increase in the share of expenditure on food products in the general budget. According to the structure of family budgets, Ukrainians spend almost 66% on food and mandatory payments, which is twice the world average. During the war, the situation has changed, charity and donations occupy a larger part of family budget expenses compared to education or loan payments.

Conclusions. It is suggested that in order to ensure the stability of the financial condition of Ukrainian citizens, it is necessary to develop and implement effective measures for socio-economic support of the population’s standard of living and the creation conditions for the development of small and medium-sized businesses at the state and regional levels.