The Ministry of Education and Culture has published a framework of financial competences for children and youth: what it entails
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The Ministry of Education and Science of Ukraine has defined a set of financial competencies that children and youth between the ages of 5 and 18 should master.
The set of knowledge, abilities, skills and peculiarities of attitude to issues in the field of personal finance management and consumption of financial services were outlined in a special document – the Framework of Financial Competences of Children and Youth of Ukraine, reports the Ministry of Education and Culture.
The department says that the document should unify the understanding of financial competencies for children and youth among all those who promote financial literacy education.
The ministry has identified approximately 900 financial competencies that students must master by the time they finish preschool primary (4th grade), basic secondary (9th grade) and specialized secondary education (12th grade).
| Photo: GarnaZarina/Depositphotos |
The document consists of four sections:
- money and deals;
- financial planning and management;
- risks and rewards;
- financial landscape.
“Financial competences are a mandatory part of the life of each and every one of us, because the level of mastery of them determines how competently we manage our own resources.
This Framework will help form a holistic and universal understanding of the level of financial literacy among children and youth in Ukraine. And, at the same time, to improve the teaching of financial competences, in particular in educational institutions“, – explains the Minister of Education and Science of Ukraine Oksen Lisovyi.
It is assumed that the use of the Framework in practice will contribute to the implementation of state policy in the field of financial literacy and financial inclusion.
The framework is available for free use by public authorities, private organizations and civil society at the link.
For ease of use, a tool for quick selection of financial competencies in Excel format will come in handy.
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