FECIF Vice-President & Foreign Affairs, ANASF
The future rests on education
Financial literacy and education are key elements of the path to economic growth and social inclusion in the European Union. At the same time, it is important to remember the 2030 Agenda for Sustainable Development, adopted on 25 September 2015 by Heads of State and Government at a special UN summit, which includes 17 Sustainable Development Goals (SDGs). The 2030 Agenda, a world-wide landmark achievement, highlights the importance of ensuring inclusive and equitable quality education and promotes lifelong learning opportunities for all, as it is recognized by its Goal 4.
Nowadays an increasingly important aspect of education concerns financial literacy and education. To begin with, it is necessary to make a distinction between the two concepts. According to the OECD, financial literacy is a combination of awareness, knowledge, skill, attitude and behaviour necessary to make sound financial decisions and ultimately achieve individual financial well-being; whereas financial education is the process by which investors improve their understanding of financial products and services and, through information and objective advice, develop the skills and confidence to become more aware of financial risks and opportunities, to make informed choices, to know where to go for help, and to take other effective actions to improve their well-being...