Project - Financial Literacy For Women

Project Description

Financial literacy is the education and understanding of knowing how money is made, spent, and saved, as well as the skills and ability to use financial resources to make decisions.

It is the ability to understand and properly apply financial management skills. Effective financial planning, properly managing debt, accurately calculating interest, and understanding the time value of money are characteristics of being financially literate.

Furthermore, financial literacy enables people to understand what is needed to achieve a lifestyle that is financially balanced, sustainable, ethical and responsible. It also helps entrepreneurs leverage other people’s money for a business to generate sales and profits.

Empirical evidence suggests financial literacy’s positive impact on financial behavior and financial status in a number of behavioral domains.
It becomes clear that these skills are vitally important; yet, many individuals lack this basic knowledge and consequently are unable to meet their daily expenses.

Financially-literate individuals do better at: budgeting, saving money, and controlling spending; handling mortgage and other debt; participating in financial markets; planning for retirement ; and ultimately, successfully accumulating wealth It becomes clear that these skills are vitally important; yet, many individuals lack this basic knowledge and consequently are unable to meet their daily expenses.

Project Details

Designed, tested and published an innovative training package for adult education trainers, which guided and supported them in training NEET women in financial literacy.
Delivered training courses and trained adult educators in financial literacy, also delivered these courses to a target group of NEET women, in order to amplify and perpetuate the ripple effect of those courses.

Partners organised two learning teaching training activities which took place in France and Ireland and three transnational meetings. Each partner tested the newly developed resources by re-activating NEET women. This testing was done at a local level and engaged 15 NEET women in each partner country. All partners hosted multiplier events throughout the project duration.

Impact

There were only a few initiatives in the EU to support financial literacy among NEET people, especially women, through game-based learning.

For that reason, adult educators were fully supported by the partner organizations of the project, through the newly developed training programs, developed intellectual outputs and helped the NEET women to gain new skills and knowledge on financial literacy.

What was expected from the adult educators

The main expected impacts were to develop critical thinking and self-assessment competencies and identify different learning styles, strategies and techniques of adult learners.

What was expected from NEET women

NEET women, were expected to understand financial issues and develop or improve their financial literacy skills and financial literacy awareness through access to the developed digital educational toolkit.

Financial Literacy For Women

This project had been funded with support from the European Commission. This publication reflected the views only of the author, and the Commission cannot be held responsible for any use that might be made of the information contained therein.

2020-1-EE01-KA204-077929