Global Money Week was celebrated for the first time at the SIAE this year. From 20 to 24 March, we raised daily awareness about financial literacy and invited people to participate in a short questionnaire to assess their financial literacy. The questionnaire reached over 350 individuals in just one week. Additionally, we participated in events organised by other institutions.
At the national educational event on 20 March at the Bank of Slovenia, representatives of the National Education Institute of the Republic of Slovenia highlighted the importance of quality education for strengthening lifelong competences. Representatives from both the Ministry of Finance and the Ministry of Education informed us about their activities, as well as other stakeholders such as the Slovenian Bank Association, the Slovenian Consumers’ Association, the Bank of Slovenia, the Bankarium – Slovenian Banking Museum and the Financial Administration of the Republic of Slovenia. The winning team of the Generation €uro students’ competition, organised by the Bank of Slovenia, was announced at the end of the event. Under expert guidance, we visited the Bank of Slovenia Museum and Bankarium as examples of learning environments for quality education on financial topics.
This year, Global Money Week and European Money Week coincided time-wise. As part of this, the Slovenian Bank Association organised the traditional professional meeting titled Financial Education Projects alongside the European Money Quiz (EMQ) and activities for primary schools, secondary schools and seniors. During the meeting at Bankarium, colleagues from the SIAE also participated by presenting the Financial Literacy for Adults 2022–2024 project. Matej Krumberger, the Head of the Training Centre at the Slovenian Bank Association and the moderator of the meeting, began by reflecting on the low financial literacy of younger generations and the older population, which are diametrically opposed. For the former, the issue lies in their lack of knowledge, while for the latter, it’s the changing methods of service delivery. We also encounter this aspect in the Financial Literacy for Adults 2022–2024 project in which we are preparing two publicly recognised programmes for adults in this field. One is aimed at the target group of adults aged 25 to 35, and the other is for those aged 55 to 65. The meeting continued with a presentation on the financial literacy needs of older adults. It was emphasised that seniors form a highly heterogeneous group who generally think differently from younger individuals regardless of their education.
On Thursday, 23 March, Moje Finance, Slovenia’s leading personal finance magazine, organised the Naj skladi 2023 (Best Funds 2023) event for financial experts. There they annually present awards to the top mutual and pension funds. The participants were greeted by Jure Ugovšek, the editor of Moje finance magazine, who wrote in the latest issue’s Editorial: “Financial literacy is becoming a popular phrase… it is an increasingly established component of sustainable development and some place it within ESG (environmental, social and governance).” Before the award ceremony, three half-hour discussions took place. The first addressed the concept of ESG, which involves considering the environmental, social and governance aspects of business operations. A conversation about the future of the Slovenian capital market followed. The final segment of the discussion sought to answer the question of how institutions see their role in financial literacy. The speakers in this segment were Irena Simčič and Sonja Primožič from the Bank of Slovenia, with their conversation moderated by Mira Koporčić Veljić, the director of the Association of Investment Fund Management Companies (GIZ).
Therefore Global Money Week brought numerous new meetings, expanded horizons, reflections and collaborations. The speakers at the events often emphasised the importance of such partnerships. The exchange of information, ideas and resources among participants to achieve a common goal is crucial. As an African proverb says, “If you want to go far, go together.”
Dr Tina Kompare Jampani (tina.kompare.jampani@acs.si), SIAE
