![]() ![]() In addition, the Commission and the OECD on financial competence framework for children and teenagers. They are now working on promoting the framework and helping Member States and stakeholders use the framework in concrete policies and initiatives, through targeted workshops. ![]() The Commission and the OECD jointly developed a financial competence framework for adultsin January 2022. They can be used by national public authorities and stakeholders to develop policies, programmes, and learning materials on financial literacy These frameworks will set out the knowledge, skills and behaviour that someone needs to develop to ensure their financial well-being throughout their life. The Commission and the OECD are working together to develop joint ‘financial competence frameworks’ for adults and for children. In its September 2020 capital markets union action plan, the Commission reaffirmed that sound financial literacy is at the heart of people’s financial well-being. What is the European Commission doing about this? Financial education complements consumer protection, but does not replace it. This will be even more important for individuals and businesses as the economy gradually recovers from the COVID crisis.įinancial literacy also protects individuals from over-indebtedness, excessive risk-taking, fraud, or cyber risks. ![]() Financial literacy can help individuals plan for the future, make better decisions about what to do with their money, and invest in capital markets in a way that meets their needs. Everyone should be able to understand the risks involved when borrowing or investing money. ![]()
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