FINANCIAL AWARENESS AMONG ATHLETES

Abstract

Aim. The paper aims to identify the aspects of financial awareness, which are of importance for athletes. Materials and methods. The paper contains a review of Russian and foreign publications about financial awareness, tax regulations of the Russian Federation, marginalism, cryptocurrency statistics and associated analytics. Results. A critical analysis of financial awareness as a concept was performed, its meaning was clarified. The features of financial behavior of athletes (as persons whose leisure and professional activities are associated with sport) were described. The characteristics of cryptocurrency as an investment tool for non-professional investors were given. The features of taxation of individual economic activity (IEA) of athletes were described. The procedure for choosing a taxation system for the IEA of athletes was outlined. The principles for choosing the optimal object of taxation were described with respect to the simplified tax system. Formulas of the boundary characteristics of the IEA of athletes were proposed. Conclusion. The development of financial awareness must be performed with respect to market conditions and the features of social groups. Athletes often choose sport-related types of IEA. The perception and analysis of financial information require appropriate competencies based on knowledge of the fundamentals of the Tax Code of the Russian Federation and the ability to calculate the financial value of IEA.