Financial Literacy for a quicker Financial Independence

Background In 2019, there were more than 3.3 million unemployed young people in the EU. For the first time in history, today's young people risk ending up less financially stable than their parents. As many as 29% of young people aged 16-29 are at risk of poverty or social exclusion, 11.6% of young people aged 15-24 are not in education, training and 15.9% of young people in this age group are unemployed. Social and economic exclusion are closely linked. Financial literacy makes a real difference. When young people are learning to live independently, they will need to be able to plan and make appropriate financial decisions, for example choosing a contract for utilities, a mobile phone operator. They will need to manage risks, such as saving money for a 'rainy day', avoiding unmanageable debts and providing for their retirement. At the same time, financial products are increasingly complex, making it harder to make sensible decisions. Objectives FinLit aims to empower young people with the skills, knowledge and confidence to take charge of their lives and create a secure future for themselves and their families. Specific objectives: - To map existing competences in the partner countries in the field of financial literacy (40 young people in each country involved); young people identify their financial literacy needs. Key performance indicators: 3 competency maps / 40 young people / 120 questionnaires completed - Development of a platform (with e-guide) to ensure that young people acquire knowledge, skills and competences in financial literacy. KPI: 1+ integrated platform with course, > 20 young people with certificates - Develop training material and deliver the course using "short-term staff training" and "short-term mixed youth mobility" - 20 young people and 15 individuals (staff). KPI: activities successfully completed and knowledge, competences, skills acquired - Implementation of multiplier events KPI: > 110 participants - Dissemination (n> 1000) Implementation 1 Transnational Projects Meeting 11-2020 Project kick-off meeting 2 Intellectual Output 11-2020 Financial literacy competences among young people 3 Intellectual Output 05-2021 FinLit e-learning platform 4 Intellectual Output 05-2021 FinLit E-course 5 Transnational Projects Meeting 07-2021 2nd Project Meeting 6 Multiplier Event 08-2021 FinLit National Workshop in Slovenia 7 Multiplier Event 08-2021 National FinLit Workshop in Poland 8 Multiplier Event 08-2021 FinLit National Workshop in Greece 9 Short-term joint staff training events 01-2022 FinLit international staff training 10 Multiplier Event 01-2022 FinLit international closing conference 11 Blended mobility of young people 03-2022 FinLit international training for young people 12 Transnational Projects Meeting 04-2022 Final Project Meeting Achievements 1. 3 mapping exercises on existing knowledge and competences of young people in financial literacy 2. development and design of training courses covering financial literacy (financial products, loans, interest, diversification of financial risks, saving for a "crisis period", etc.) 3. development of an interactive learning platform including attractive and innovative training materials, videos, etc. 4. approx. 15 trained mentors (staff members) on training in Greece 5. Approx. 20 young people (18-24 years) involved in a pilot experience (in Poland) with improved knowledge and competences on financial literacy and personal finance. 6. Approx. 110 individuals participating in project events. 7. Creation and dissemination of learning activities. 8. Innovative, flexible and easily adaptable training with a designed e-platform and e-course, allowing for appropriate integration into other training/learning programmes. 9. Certificates for recognition of competences (> 40) 10. New and improved competences and skills in financial literacy, as well as improved ICT skills. 11. Independent management of personal finances, maintaining a sound financial position and avoiding the possibility of "landing" below the poverty line.