Week of financial literacy across Europe

Members of the European Banking Federation have dedicated this week to the importance of financial literacy among young people. Organised for the first time, the European Money Week aims to raise awareness on the importance of financial literacy, and to influence the content of financial education at European and national levels. In Finland the focus is on 9th grade students’ economic knowledge.

A wide range of local and international events for young people will be held during the European Money Week. Finland participates by awarding students who have shown a high level of economic knowledge. The Zaldo financial literacy competition, aimed for 9th grade students, came to its finale on March the 7th. This year’s winning class was 9B from the Opintie School in Loimaa. They were awarded with a €500 gift card. Teacher Hannu Hirvonen says the class intends to use the prize money on a school trip.

”Zaldo challenges 9th graders to learn more about the management of their personal finances and to tame their ’financial monsters’. About 320 classes took part in the competition, which is twice the number of last year’s participants”, FFI research manager Tarja Kallonen says, delighted.

The financial services sector holds financial literacy in high value. ”Our aim is to influence Finnish schools’ financial education to improve the younger generation’s skills of managing personal finances. Financial literacy should be a part of wholesome education, and should be adequately taught in schools”, Kallonen says.

The European Money Week is coordinated by the European Banking Federation EBF. During the week, EBF and its members share good practices and successful national experiences in financial education across Europe.

See what kids and teenagers across Europe have to say about money: http://youtu.be/WLBjbIuVbZM