Financial skills: Lighting the path to a sound financial future
EUROPEAN MONEY WEEK 2023!
Amid the darkening economic outlook, ensuring individuals understand money and know how to manage it remains a top priority for educators, regulators and other stakeholders in the financial literacy community. The rising cost of living, inflation, combined with the continued acceleration of the digital economy and new developments in the financial field ranging from cryptocurrencies to sustainable investments, presents a complex picture for everyday Europeans.
The EU is putting in place a comprehensive and ambitious regulatory framework aimed at channeling Europeans’ savings into entrepreneurship and innovation, boosting funds for sustainability, and ultimately making the EU economy more competitive and its citizens more prosperous. To support public policies, a new financial competence framework for children and youth in the EU is expected later this year. In the meantime, basic money management skills that help individuals understand what’s happening to them and around them remain a priority.
To put these skills in the spotlight, the European Banking Federation (EBF) has dedicated this year’s European Money Week, aligned with OECD-INFE Global Money Week, to the theme of ‘Financial skills: Lighting the path to a sound financial future’.