Sharpening Financial Education - research project

The aim of this research was to identify the financial skills and competences that the business and finance community perceives as essential in the 21st century, whether young people choose to start their own business or be employed. Young people are vulnerable in this age of virtual money and financial complexity. Clarity on the right mix of skills, how they are taught and who is involved is important to improve programmes at school, strengthen partnerships and help young people make better and more informed decisions.

The research combined:

A pan-European survey looking at

• WHAT financial skills does any business or organisation need young people to be equipped with?
• WHO should be involved in delivering financial education to young people?
• HOW should financial education be delivered to young people?

5 national case studies

• POLAND: Non-stop curricula from primary to upper secondary
• ROMANIA: Large scale blended learning initiative
• SPAIN: Partnership with the banking association
• TURKEY: Peer-to-peer education model
• UK: Interaction between financial and entrepreneurship education

Key findings include:

1. Young people lack ‘financial planning’ and budgeting’ skills, the most missing and needed financial skills to enter the workforce – whether as an entrepreneur or employee.
2. European educational systems should contribute more to equipping young people with the right financial skills. 
3. A combination of public and private initiatives would be the best way to improve financial literacy.

Download the report HERE

Download the full case-studies HERE