OECD - OCDE’s Post

🚀 Out today! 🚀 Nearly 1/5 of students in participating OECD countries and economies did not achieve baseline proficiency levels in financial literacy.   Latest OECD PISA report shows 15-year old students actively use financial products and services, but important gaps persists in their levels of financial literacy and knowledge of money matters.   Stronger financial education is essential to help them better manage their money at a young age and navigate new challenges in an increasingly digitalised financial landscape. Read the findings of the new PISA Volume IV 👉 oe.cd/5BC #FinancialLiteracy #PISA

Nearly 1/5 of students in participating OECD countries and economies did not achieve baseline proficiency levels in financial literacy. Latest OECD PISA report shows 15-year old students actively use financial products and services, but important gaps persists in their levels of financial literacy and knowledge of money matters. Stronger financial education is essential to help them better manage their money at a young age and navigate new challenges in an increasingly digitalised financial landscape. Read the findings of the new #PISA 2022 Volume IV: oe.cd/5BC

✨Thank you for making a difference When you sign. Today. And share with your network. ❗️This is too important, urgent and impactful to ignore #financialeducation #money #financialwellbeing #talkmoney

We continue our deep dive into the OECD - OCDE recently-released findings from the #PISA study! We take a look at the tight link between #FinancialLiteracy and positive financial behaviour. Students who have more financial literacy skills behave financially more responsibly, forward-looking and pro-actively. Studies revealed that about 20% of the score on financial literacy is uniquely attributed to accessing financial literacy lessons. In fact, exposure to financial terms in #School is associated with higher financial literacy performance. The PISA results emphasise the necessity for specific attention to Financial #Education, separate from the general quality of current subjects and education. In addition, even though parents can be an important source of info, findings from the study show that this is not enough. In 2022, Aflatoun tailored programmes have reached over 3.8 million children and youth in 102 countries through our partners network, and 29.5 million children and youth through national integration. We aim to lead global efforts in Social & Financial Education, promoting equitable and quality education worldwide and aiming to integrate SFE into national education systems. Together, we can make a difference!  Join us in our mission to build a financially literate world, one child at a time: https://lnkd.in/dERdgP7R #JoinTheMovement #FinancialLiteracy #PISA2022 #Education #YouthEmpowerment #Aflatoun #FinancialEducation #GlobalDevelopment

Looking forward to digging into the OECD - OCDE International Survey of Adult #financialliteracy. A quick skim revealed the following: * Only 34% of adults achieved passing score (>70) on the financial literacy questions. * 15% of adults have been the victim of scams. * Only 26% of adults compare financial products across providers * Among countries, Germany, Ireland, Hong Kong (China) and Thailand stood out with strong financial literacy scores (knowledge+behavior+ attitude). * U.S. did not participate. My early takeaways: * Avoiding scams and comparison shopping are important part of personal finance curriculum based on stats above; too much fraud and too little comparison of products. Next Gen Personal Finance's Consumer Skills unit includes both as well as Dark Patterns too: https://lnkd.in/gB3WAYG8 * What can we learn from top performing countries about how their educational systems prepare students? The report: https://lnkd.in/g9QRJgwu

Financial literacy is relevant to consumption risk sharing in the article by 𝘎𝘪𝘶𝘴𝘦𝘱𝘱𝘦 𝘉𝘦𝘳𝘵𝘰𝘭𝘢 𝘢𝘯𝘥 𝘈𝘯𝘯𝘢 𝘓𝘰 𝘗𝘳𝘦𝘵𝘦 "𝐹𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝐿𝑖𝑡𝑒𝑟𝑎𝑐𝑦 𝑎𝑛𝑑 𝑅𝑖𝑠𝑘 𝑃𝑟𝑜𝑡𝑒𝑐𝑡𝑖𝑜𝑛 𝐷𝑢𝑟𝑖𝑛𝑔 𝑡ℎ𝑒 𝐶𝑜𝑣𝑖𝑑-19 𝑃𝑎𝑛𝑑𝑒𝑚𝑖𝑐" published in the 𝐈𝐭𝐚𝐥𝐢𝐚𝐧 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐉𝐨𝐮𝐫𝐧𝐚𝐥. Financial markets have worked better for financially literate households in the first phase of the Covid-19 pandemic: not only previous financial choices and economic conditions, but also competent access to financial markets appears to have smoothed the negative consumption impact of the pandemic in Italy. #financialliteracy #financialeducation #research #risksharing #consumption #financialassets #publicsubsidies #covid19 #pandemic G53 Financial Literacy and Personal Finance Research Network (https://lnkd.in/erX_Kvaj) Università degli Studi di Torino https://lnkd.in/ebZ2P994

📣 Out now! 📣 How financially smart are students?   Our new report assessing the financial literacy of 15-year-old students show that 2/3 of students make spending decisions but their levels of knowledge on money matters is not sufficient.   15-year-old students actively use financial products and services but nearly 1/5 of students on average in participating OECD countries and economies did not achieve baseline proficiency levels in financial literacy.   Stronger financial education is essential to help them better manage their money at a young age and navigate new challenges in an increasingly digitalised financial landscape.   Read the findings of the new #PISA2022 Volume IV 👉 bit.ly/45dxRvv Elsa Favre-Baron, CAIA, Chiara Monticone

As we observe the Financial Literacy Week scheduled from February 26 to March 01, 2024, let us recognise the contribution made by the International Network on Financial Education (INFE), a global platform dedicated to enhancing financial literacy worldwide. INFE was established by the Organization for Economic Co-operation and Development (OECD) in 2008. Drawing from extensive research spanned across countries, OECD/INFE has developed a comprehensive framework for propagating financial literacy. One of the most important aspects of the OECD/INFE framework is that it is grounded in empirical evidence, with data and insights from numerous studies, some conducted by itself. For example, when targeting women, OECD/INFE suggests that we take into account factors such as the gender pay gap, career interruptions due to motherhood responsibilities, lower participation in formal financial systems, etc. If implemented properly, this framework can serve as an invaluable guide for institutions looking to develop effective financial literacy content and design financial literacy programs. What are the benefits? Firstly, the framework is rooted in rigorous research and best practices, and not guesswork. Secondly, the framework is highly adaptable, meaning you can localise it to suit the unique needs of your target group. Finally, and the most important benefit is by adopting the framework, you can optimise your limited resources, and focus on implementation rather than reinventing the wheel. An excellent example of a financial literacy program developed based on the OECD/INFE framework is "Multiply India" by the Creador Foundation. It offers comprehensive resources and tools designed to improve financial literacy across various target groups. #financialliteracy #financialeducation #oecd #infe #multiplyindia #creadorfoundation

Financial Literacy. • Just 35% of youths are financially literate globally, compared to 59% in advanced economies. (https://lnkd.in/d_iG2X5G) • A research by the European Banking Federation and Child and Youth Finance International showed that only 12% of young people (ages 15-18) in Europe have a good understanding of financial concepts. (https://lnkd.in/exNa7rKq) Being financially literate at a young age is essential to avoid making costly decisions that can haunt you for years to come. As we head into the new year, we at Heritage would like to do our part to contribute. Starting 2024, we will be sharing weekly tips that we hope will benefit the next generation. As we understand LinkedIn may not fully reach our target audience, do stay tuned for information on additional platforms that we will be sharing on as well. This is a no-strings attached initiative that we are starting. Should you wish to contribute, do not hesitate to drop us a message. If you find yourself needing guidance, please do not hesitate to reach out to us as well. We may not necessarily be the experts but we can at least point you in the right direction. #financialliteracy #youthdevelopment #financeforgood

https://lnkd.in/dczzv-Rs OECD data, publications and analysis become freely accessible