BEHAVIORAL FINANCE AND THE DIGITAL ENVIRONMENT: THE CONCEPT OF COGNITIVE-ADAPTIVE FINANCIAL LITERACY AS A FACTOR IN HOUSEHOLD RESILIENCE

The objective of the study is to develop a conceptual framework for cognitive-adaptive financial literacy that meets the challenges of the digital environment. Key findings: the theoretical foundations of financial literacy are reviewed; characteristics of behavioral and digital risks as a challenge to household financial stability are presented; the concept of cognitive-adaptive financial literacy is presented; methodological aspects of assessing cognitive-adaptive financial literacy and ways of implementing the proposed concept are highlighted. Research materials: data from international organizations (OECD, World Bank) and central banks of leading countries characterizing the dynamics of financial literacy of the population, the level of digitalization of financial services, the structure of savings and debt burden of households for the period 2010-2024; results of empirical studies and meta-analyses in the field of behavioral finance dedicated to the study of cognitive biases in the financial sphere, the effectiveness of various educational interventions and the impact of digital interfaces on decision-making. Research methods: systems approach, comparative and contrastive analysis, structural and functional analysis, theoretical modeling, generalization, induction, deduction, document analysis, scenario approach, and case study. Key findings: The hypothesis that household financial resilience in the digital environment is largely determined by adaptive skills for managing behavioral and digital risks, and not just traditional financial knowledge, is confirmed by the analysis. Digital transformation modifies the very context of decision-making, making individuals’ internal cognitive limitations and external interface features key factors mediating the use of even accurate knowledge. Thus, resilience is formed at the level of the ability to protect the decision-making process from systematic errors and external manipulative influences.