Financial education at school works
If your child comes home after school and asks you about mortgages, debt management, the status of the emergency funds or future savings, don’t worry! it’s nothing serious! He or she is just a Financial Education student.
Financial Education (FE) which is taught in Spain in the last two years of Compulsory Secondary Education (ESO) as well as in High School, is leading to positive outcomes according to a study carried out by Olympia Bover, Laura Hospido and Ernesto Villanueva, researchers from Banco de España who have studied 9th grade students from 77 public, private and state-funded Spanish high schools in 12 different Regions. Students who followed FE during a semester of the academic year 2014/2015 were compared with those who did not. Outcomes showed that students from the first group improved their financial knowledge, as they had learned about banking products, and would talk to their parents about economics. Furthermore, when students were asked to choose between receiving a gift at that moment or a better one in the future, those who had studied FE displayed more patient choices.
Financial Education in schools is an initiative developed by the Financial Education Plan throughout Spanish schools since 2010, in collaboration with the Ministry of Education and Spanish regional governments. Last academic year, 500 schools and more than 30,000 students took part in FE courses taught by their own teachers in subjects like social sciences and mathematics. The enrolment period for this year is still open. For further information visit www.finanzasparatodos.es