Financial Literacy is considered as a main issue by the European Commission which, since 2007, has developed a number of activities in order to help consumers manage effectively and efficiently their finances. In today’s world where financial products and solutions are highly sophisticated, it is imperative that people and, especially young ones develop a basic understanding of how to respond to challenges related to dealing with the Banks. In addition and with regards to the Greek situation, the solution we have developed, addresses issues of entrepreneurship.
In most European countries, there are financial literacy programmes. In Greece, moneypedia.gr is the first publicly available financial literacy programme.
The objective of the financial literacy programme, http://www.moneypedia.gr/, is to provide basic and solid information on financial products and services as well as the principles of entrepreneurship for young people, aged 18-25 years old.
The content of the programme which is only available on-line through the portal www.moneypedia.gr, was prepared by professors of the Athens University of Economics. To identify the content, the age group of the people to whom the programme would be addressed and the look and feel of the site, the Athens University of Economics performed desktop and market research. Following this, the content was prepared in co-operation with employees of the Eurobank EFG group.
It is very early to identify the social impact of the solution as the launch took place on October 12th, 2011. However, given the usage of the social media and the fact that the site is updated daily with news of interest to the age group in question, we believe that the programme will raise the awareness of the principles that govern the financial system and will help young people to manage their finances. In addition, the section that refers to the entrepreneurship provides some good basic understanding of how to set up and develop a company, offering at the same time necessary tools such as a template to prepare a solid business plan.
www.moneypedia.gr (available only in Greek)