How important is Financial Education? Especially for those who are important? Italy places itself at the last places in Europe regarding financial knowledge, this creates great consequences for our portfolios. A national strategy for financial education could close the gap with the rest of European countries.
There are more and more initiatives, even if until now still fragmented. Important is what we read in the report of the Survey on financial education initiatives in Italy in the 2012-14 period of the Bank of Italy: “The increasing complexity of the financial choices that citizens must make in the course of their lives requires levels of financial literacy often higher than those currently available in large sections of the population. Recent surveys show how the level of financial culture of Italians is among the lowest found in advanced economies for adults and students. Financial education is the process that should enable people to increase this competence. “
How is the training offer in Italy?
The report continues by addressing the issue of financial disclosure: “The initiatives surveyed were very heterogeneous: some, defined as education, provided for a real training program; others, defined as sensitization, have in many cases been limited to sharing informative material. The web was the main vehicle for promotion, with risks of exclusion for relevant sections of the population. Although it is difficult to quantify the total resources allocated to financial education, it has emerged that only a few programs have foreseen a significant financial commitment. The main promoters were the financial world, the school and associations, which often collaborated with each other for the creation of materials and educational activities. The competition of various subjects has laid the foundations for the development of appropriate initiatives in terms of both specialist and pedagogical and cognitive. “
What were the goals?
When we talk about Financial Education we want to make it clear that we are referring to how it can be put into practice, the importance of this type of education is manifested precisely in putting it into practice, in this way it will improve our lifestyle. The report talks about this: “The objectives of the initiatives surveyed, also modulated on the age of the learners, show an approach to financial literacy that recognizes the importance of acquiring both the knowledge and the ability to put into practice what has been learned. Almost all the programs introduced the students to elementary financial concepts; with secondary school students the activities aimed at strengthening the skills were more frequent; with the little ones the teachers have developed the value of legality and awareness in the use of money. Above all, larger initiatives have shown characteristics in line with best international practices: greater collaboration between financial experts and teachers has been associated with more frequent training activities for trainers, better integration with school curricula, modern teaching materials and diversified, greater dissemination of monitoring and impact assessment with counterfactual techniques.
The report continues by focusing on the data collected on financial education focused on adults: “Financial education for adults is less structured than that for students. Educational initiatives are not frequent due to the difficulties in identifying ways, places and times compatible with the availability of potential beneficiaries. One of the challenges for adult financial education is to compete with an extremely varied audience in terms of both needs and access to the various information channels. The survey showed that the programs were almost always aimed at a general audience and the initiatives aimed at reaching particularly vulnerable segments of the population or with specific training needs, such as the elderly or small businesses, were still not widespread. “
We disclose a new type of ethics
In this context we decided to insert ourselves, we believe that people must first be informed about financial changes, which are increasingly dynamic and complex. Secondly, we want to give people useful tools to face those who unfortunately do not follow the right ethics, those who promise and do not keep, those who focus on selling, selling and selling without worrying about the problem that their client is facing.
This situation has pushed us to LeaseCredi to strengthen our structure more and more, surrounded by professionals of the highest profile and expertise ready to offer customers the best service, supporting it before, during and especially after the delivery of the Cession of the Fifth; at this stage many operators lack professional honesty.