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Financial Literacy for Adults 2022–2024
| Project | Financial Literacy for Adults 2022–2024 |
| Time period | June 2022 – May 2024 |
| Project value | 517.000,00 EUR |
| Financed by | European Union from the core package of the instrument “Next Generation EU” – Recovery and Resilience Mechanism (Regulation 2021/241/EU of the European Parliament and of the Council of 12 February 2021) |
| Contact | Estera Možina, MSc T: +386 (0)1 5842 591 E: ester.mozina@acs.si |
| Contract supervisor | Lidija Fischinger, Ministry of Education (Slovenia) |
AIM
The primary objective of the proposed project is to contribute to the strategic development of financial literacy in three key areas that enable individuals to achieve and maintain financial well-being during times of highly unpredictable economic and social changes. The project’s long-term goal is, therefore, to ensure the financial well-being of Slovenia’s residents, their relatives, and families in the years to come, through the education and training of adults in the field of financial literacy.
OBJECTIVES
The core objectives of the project are as follows:
- Analyze the financial literacy needs among adults.
- Prepare guidelines for program design.
- Develop two new publicly valid programs and four exemplary informal programs in the field of financial literacy for adults.
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- Empower education providers by training professional workers to design tailored programs in the field of financial literacy.
- Pilot the implementation of publicly valid programs, conducting evaluations in cooperation with a network of implementing institutions.
- Present publicly valid programs to potential implementers and disseminate project results.
DESCRIPTION
The ultimate project goal is to develop programs for adults that educators can easily adapt to meet individual financial literacy needs. Achieving this goal requires high-quality foundational training for professional workers in the field of adult education in Slovenia. Consequently, another crucial project objective is to develop a training program for these professionals. The development of new financial literacy programs will provide the field of adult education with quality resources to educate and train adults in a vital aspect of their lives and work.
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Adults will acquire concrete and valuable knowledge and skills in the following areas:
- Managing personal and family finances, including borrowing.
- Personal and family financial planning, saving for the future.
- Understanding dangers and taking preventive actions against abuse and fraud.
The acquired knowledge and skills in the field of financial literacy will enable efficient management of the financial resources that adults possess.
An indirect positive impact of skillful financial resource management and investment is expected to enhance the quality of life for adults and families. This impact will be reflected in improved living conditions, access to quality nutrition, and the ability to maintain good health and an active lifestyle throughout their senior years. The positive influence of adult financial literacy will also extend to support environmentally conscious and digital transitions.
Adults who gain competence in the realm of finance will be better equipped to assess the personal and broader societal advantages of investing in green technologies and environmental protection. Additionally, they will adeptly utilize digital technologies to facilitate personal financial transactions. The newfound knowledge, skills, and attitudes towards investment savings, along with a propensity for less risky investments, could result in more frequent adoption of these financial strategies by adults. Consequently, this trend could stimulate fresh investments in Slovenian companies, fostering economic growth within the country.
EXPECTED ACHIEVEMENTS
We will prepare the following:
- A report analyzing the current situation and needs in the field of financial literacy.
- Professional guidelines for program development.
- Two new pilot-tested publicly valid programs for adults.
- A new pilot-tested training program tailored for professionals.
- Four exemplary informal financial literacy programs.
National:
Green Quality LogoLifelong Learning WeeksLifelong learning of adults for sustainable development and digital breakthrough (2021–2023)Evaluation of the programme Comprehensive support for businesses to encourage active aging of the work forceStudy CirclesQuality counsellorsProfessional Support in the Field of Adult EducationSelf-Directed Learning CentresAdult Education Guidance CentresDevelopment of Approaches to Adult Education Trainings and SeminarsProject Learning for Young AdultsOffering Quality Education to AdultsElementary School for AdultsImplementation and Monitoring of Adult Education Training ProgrammesEducation for Sustainable DevelopmentFinancial Literacy for Adults 2022–2024Expert External Evaluation