Authors: Suzanne Elferink, Marta Cannistrá and Kristof De Witte
Did you ever wonder about how financial literacy is provided in different European countries? Thanks to the EUFin project we can obtain insights in this. The EUfin.org website provides for five European countries some critical resources for literature, ‘organizations and networks’, and videos. Although these resources are in the local languages, you can use Google.translate.com to have some idea on how financial literacy is educated in other countries.
The literature section reviews some important and relevant local papers on financial literacy. The papers are written by various stakeholders, and indicate the relevant discussions on financial literacy in each country. One interesting example stems from Italy and shows that most individuals lack basic financial knowledge. Furthermore, the Italian literature links suggests that financial literacy has a positive and significant impact on the possibility of pension plan participation. Another interesting example originates from the Netherlands, where Aisa Amagir (partner in the EUfin project) looked at the effectiveness of financial education programs and interventions for children and adolescents. Aisa shows in the review that financial education programs can improve the financial knowledge and attitude of children.
The second section consists of ‘organizations and networks’. The aim of the section is to direct people towards available resources in each country. Like this, people might easily find their way in the rich resources and course materials available in countries. An example is the wikifin.be platform of Belgium, that provides ample course materials for secondary education. In addition, a visitor can find tools, checklists, and information about the various initiatives on the website. The themes are bundled around the important step stones in live, like studying, working, living together, pensions, etc.
The videos provide background information on how basic insights on financial literacy can be applied. For example, one exciting video originates from the Netherlands, where we link to a video from Nibud (National Institute for Family Finance Information) that explains the importance of saving.
The website will continue to grow as the project runs. We hope that you enjoy the website and find inspiration on financial literacy!