Financial decisions play a crucial role in our lives, encompassing aspects like saving, spending, obtaining loans, and making investment choices. Without financial knowledge, it can be challenging to navigate the complex financial world, leading to potential risks and missed opportunities, and especially among the disadvantaged youth population.
Focusing this challenge on the youth work sector, it is agreed that financial literacy is key to ensure the economic access, growth, and empowerment of youth. However, despite acknowledging the need for better financial education as an empowering youth tool, youth workers do not feel necessarily equipped with the financial competencies and the innovative teaching non-formal methodologies to successfully reach and empower youngsters in the field.
Consequently, the Consortium of this KA2 Erasmus+ project named “Empowering youth through Financial Literacy” (formed by 4 organizations from Belgium, Georgia, Poland, and Spain), aimed at:
- Increasing the financial literacy of youth workers directly working with disadvantaged youngsters.
- Increasing social and labor market inclusion and entrepreneurial skills of disadvantaged young people by boosting their competencies and skills on financial literacy through non-formal education tools and methodologies.
More specifically, these four organizations joined to achieve:
- Better quality and recognition of youth work by improving the financial literacy of youth workers and its integration in youth work practices.
- Developing and sharing effective methods to help youth workers in reaching out to disadvantaged young people through financial literacy activities.
- Increasing general societal literacy and awareness of financial concepts as crucial for employment creation and life-long upskilling.
- Fostering cross-sectoral cooperation to allow greater synergies across different stakeholders and sectors to ensure the empowerment and inclusion of young people, specifically by developing policy recommendations to boost entrepreneurial activity through an increase of financial literacy.
- Promoting inclusive growth and employment opportunities in Europe in the current context of COVID-19.
Concluding, in order to do so, this Consortium has worked collaboratively during months in order to develop the following results:
- A Practical Guide on Financial Literacy.
- A Toolkit for youth workers on “Financial Literacy through non-formal education tools and activities”.
- A Policy Briefing on the best practices when approaching financial literacy to youngsters (both in formal education and non-formal settings).
- MOOC “Financial Literacy – a key for economic growth”
Navigate through our website to discover our results, our partners, and to benefit from all the material!
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