Search
Close this search box.

FINYOUTH

Financial literacy for youngsters from low socioeconomic contexts

FINYOUTH aims to enhance the financial knowledge of youngsters from low socio-economic contexts to prevent them from falling into excessive debt and online gambling.

GA number: 2023-1-ES02-KA220-YOU-000154658

Funded by: Erasmus+      Duration: 02/10/2023-01/10/2025


Challenge

Financial literacy is recognised as one of the basic life skills of the 21st century. However, the lack of financial literacy is prominent in Europe, especially in southern Europe with Italy scoring 37% and Spain 49% in financial literacy rates. Rates are higher among young people who enter the workforce and begin navigating their personal finances.

Additionally, the rise of online gambling and video-game micro-transactions has increased psycho-social vulnerability among youngsters.

Innovation

FINYOUTH aims to transfer financial knowledge through gamified methodologies to both youngsters at social risk and youth organisations to prevent them from falling into excessive debt and online gambling and help them implement healthier financial habits.

Action

The training aims to reduce the number of youngsters aged 18-30 from low socio-economic contexts who fall into excessive debts and enter the whirlwind of online gambling, digital actives and micro-transactions in online gaming. FINYOUTH intends to train 270 vulnerable youngsters on financial literacy through non-formal methodologies to make more educated decisions; and by building the capacity of youth organisations and youth workers to implement non-formal sessions on financial literacy with a focus on the risks of online gambling and micro transactions in videogames.

A gamified platform aims to help youngsters, through real world simulation scenarios, test their knowledge and skills on financial actions, such as investing in digital activities, budgeting and money-saving. The platform will also build the capacity of youth organisations and youth workers to implement non-formal sessions on financial literacy with a focus on the risks of online gambling and micro transactions in videogames Moreover, it will raise the awareness of young people on the impact of financial decisions in their lives and the risks of online gambling.

Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or the European Education and Culture Executive Agency (EACEA). Neither the European Union nor EACEA can be held responsible for them.

Project Partners

Organization Logo_KMOP Edu Hub
KMOP Education and Innovation Hub – Greece
Acción Laboral – Spain (Coordinator)
Center for Social Innovation (CSI) – Cyprus
CESIE – Italy
Social Innovation Fund – Lithuania

Leave a comment
or ask for help