The level of financial literacy - in Poland it seems really scary... :( How does it look in your country?

Hey Guys,

While surfing the net I’ve recently found the terrifying results of the research run in March 2019 by the Warsaw Banking Institute (WIB) and Warsaw Stock Exchange Foundation (FGPW). :poland:

According to the research only 9% of Poles feel they have a good or very good level of the financial knowledge. It doesn’t look good… :astonished::astonished::astonished:

How does it look in your country? I know there has already been similar subject raised in our community and many of you suffered from the lack of financial education at your schools…

The results of the March research in Poland confirmed that there is a serious problem we have to deal with as a society.

Have you got any data on financial literacy in your country? I believe Poland cannot be the sad exception…

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It’s the same story in Australia and seems to be in most countries around the world.

I know in Australia we have little to no financial education in school’s at all. You learn the basics of mathematics but there is nothing on budgeting, investing, saving or buying a house which are all the basic foundations of financial literacy and building yourself a financial future! It comes down to what your parents teach you, unfortunately most of them have low levels of financial literacy too so it’s a chain reaction of bad habits!

In Australia, Deloitte and Compare the Market prepared a financial consciousness index (FCI) which gives a score out of 100 for financial literacy. The average score out of the Australian’s who were surveyed was 48… That’s less than a pass mark. :face_with_hand_over_mouth:

It’s a global problem in my eyes and it’s about time that changes!

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So sad, but true… It seems that the need for change is getting stronger & stronger all over the world…

The good thing, however, is that many of people start to realise it and so sth with it. In Poland i.e. we have a growing number of financial bloggers & other educational initiatives launched by different financial institutions, including banks as well as the Warsaw Stock Exchange. This is a good sign that makes me believe that we’ll manage to combat this financial illiteracy soon. :slight_smile:

Of course, I strongly believe that our Library-related efforts will also contribute to increasing the global level of financial knowledge :muscle::muscle::muscle:

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