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The article explores the system arrangement and determination of a methodology of a new scientific branch in the system of financial law - regional financial law. The work is an attempt to analyze a possible development of the financial law system through changing approaches in the methodology of studying financial law, meaning consideration of financial law system not only horizontally but also vertically, highlighting a new trend in the study of financial law - regional financial law, which, in the authors view, will give impetus to financial law for improvement of financial and legal norms at sub-federal and local levels of the Russian state. The derivation of regional financial law in the system of financial law has a great scientific perspective not only from the prospect of actual development of the Russian state, but also in historical, legal and comparative-legal aspects. In addition to scientific goals this article also implements academic goals: due to evolvement of master's programs in financial law its regional branch should also be supported with educational and academic literature. For this purpose the work gives a significant empirical basis such as a system of legislation regulating regional financial relations, regulatory and practical guides, as well as new scientific approaches and much more. Considerable part of the paper is devoted to methodological aspects of development of regional financial law which can be of help in educational activities. [ABSTRACT FROM AUTHOR]