CYFI network partner Financial Literacy Initiative Foundation in Bulgaria has been keeping busy, organizing activities and widening its network in order to increase financial literacy for young people in Bulgaria.
‘There is no better present for our children than to help them become happy and successful people. One of the most important skills for success is good financial literacy.’
The Financial Literacy Network now consists of 44 institutions and organizations, made up of public institution, business, academic and media representatives. There is a shared believe in the importance of stakeholder involvement and the move towards a national strategy for financial literacy. Earlier this year, the ‘White Paper on financial literacy in Bulgaria’ was published outlining the best practices in the European Union and other countries, which may serve as a guide for institutions responsible for policy formation and even as a basis for national strategies.
With the Financial Workshops ‘About the money and other important things in life’, the Foundation was able to engage young people by challenging them to play games in which they discussed real life experiences, worked in teams and surfed the net. The manual for this project, designed for 9 – 12 graders, contains 25 financial workshops on ten topics. Pupils learn about personal finance, such as budget, borrowing, investment, risk management and pensions through subjects they enjoy talking about (e.g. love, friendship and travel). The next step to extent the impact of the method is the teachers training in September 2016.The BG Map of Financial Literacy, containing a database with all Bulgarian financial literacy resources, was created by FLI and its partners to simplify the process or getting access the relevant financial literacy resources. The enhanced usability can increase the scale of the impact. The database can be found at: