Personal Finance Management Research For Rural Residents

As the implementation of the Chinese "three rural" policy and the continuous development of the rural economy, rural residents have accumulated substantial wealth. People’s living standard and income levels have been kept rising, the needs of personal financial services have grown intensively. However, due to reasons such as living environmental conditions, technology limitations in rural areas, and the amount of wealth owned by rural residents, their financial needs have not been taken care of. Today the financial environment has improved in China, and the financial knowledge has gradually spread in rural areas. The personal finance management research for rural residents has become increasingly important and has a lot of practical significance. It will benefit rural residents in getting rich, help the government to perfect the financial markets, and improve the development of financial institutions in China.This paper started with a description of the background and significance of the personal finance management research for rural residents. First, it set the theoretical basis for the personal finance management for rural residents; next, by the questionnaire method, the field surveys were carried out to investigate the income levels, consumption habits, main asset ownership status and how the personal finance was managed for the urban and rural residents in Fuzhou. It showed the differences in the finance management methods between the rural residents and the urban residents, due to the differences in the income levels, education, environmental factors, etc.; then, the development history and current status of the personal finance management for rural residents were studied. Insights were provided for the issues existed during the development of the personal finance management for rural residents; after that, the further detailed analysis and in-depth study was conducted on strengths, weaknesses, risks and prospects of the personal finance management for rural residents by application of related theories such as economics, finance, etc.; Finally, the personal finance management PCTP development strategy for rural residents was introduced according to the personal finance features of rural residents in Fuzhou area. This PCTP development strategy will guide rural residents to improve their financial awareness and skills, and promote all level of governments and financial institutions to give more emphases to the rural financial market development in China. It will also help improving the quality of life of rural residents, promote China’s process of building a new socialist countryside, and ensure the sustained and healthy development of the rural economy.