Kutsiak V. Personal finance in under conditions of market relations in Ukraine

Object - personal finances. Objective - deepening of the theoretical and conceptual foundations of personal finance as an important element of financial system of Ukraine and the development of practical recommendations on the prospects for their further development in the context of transformation processes of the market economy. Methods - dialectical method of induction and deduction, historical, structural and logical analysis, synthesis, grouping, comparison, economic-mathematical modeling, forecasting. Results - solving important scientific problems - the formation of the theoretical and conceptual foundations of personal finance development in the conditions of transformation of the market economy in Ukraine. Novelty - improved treatment of personal finance as a set of economic relations of individual citizens, materialized in the form of inputs (incomes) and outputs (expenses) of cash flows for the formation, distribution and use of the relevant funds of funds (especially consumption and savings funds) in order to achieve personal financial goals and maximize both individual and public welfare; scientific and theoretical approaches to the identification of personal finances, despite the personification of financial transactions and of property relations in society; classification of personal expenditure on the basis of priority for their implementation with the release of personal expenses for the payment of taxes and obligatory payments, consumption, investment objectives and charity; theoretical and methodological approaches to the management of personal savings in the context of the formation of the typical investment portfolios depending on the level of a person's income; further developments in the interpretation of the concept of personal income as a certain amount of funds and the value of goods and services received by citizens over a certain period of time, which increase their assets, thus contributing to the growth of personal wealth; theoretical and empirical approaches to the definition of the priority of personal income growth of ways citizens with the release of extensive and intensive areas of their formation in the context of maximizing the income from entrepreneurial activity and property in the total income of the population; systematization of the main directions of rationalization of personal expenses in the process of personal financial planning and advice on the efficient use of financial resources. Introduced in the activities of the Finance Department of the Chernivtsi Regional State Administration, the State Statistics Service in Chernivtsi region, PJSC "Ukrsotsbank" Podolsky region as well as in the educational process Bukovyna State Finance and Economics University. Scope of use - The National Commission, carrying out state regulation of financial services markets and Verkhovna Rada Committee on matters of social policy, employment and pensions.