Youth Finance Academy
Strategic Partnership in the Youth Sector, supported by the EU under the programme Erasmus+.
The project is implemented by Asociatia Monomyths (Romania) in cooperation with:
Civitas Foundation for Civil Society – Cluj-Napoca Branch (Romania)
Nuorisokeskus Piispala (Finland)
Sdruzhenie Walk Together (Bulgaria)
TERRAM PACIS (Norway)
Asociacija Tavo Europa (Lithuania)
Entrepreneurship and Social Economy Group (Greece)
Financial literacy rates vary across the European Union: in Denmark, Germany, the Netherlands, and Sweden 65% of adults are financially literate. In Bulgaria and Cyprus, only 35% of adults, while in Romania 22%. As it affects everybody, it covers all demographics, all geographies, and all cultures, the involvement of youth workers, educators and educational leaders as the frontline staff is essential to help young people and young entrepreneurs build financial literacy – money knowledge, skills, and habits at key transitional moments.
Aims and Objectives
The main aim of the 8 organizations is to design during the project “Youth Finance Academy” a collection of 3 financial education tools for Youth NGOs to be used by these to equip young people and young entrepreneurs with the know-how and key-competences necessary to achieve a high-quality financial literacy throughout two years.
The specific objectives of the project are:
SO1: To create a cross-sectoral network of financial experts (from the public, private and not-for-profit sector) who can actively contribute with their know-how to the development of Youth Finance Academy training package, educational game and multimedia content (podcasts, micro-learning videos, articles) and promote the necessity of integrating financial education in high-schools and universities
SO2: To train 24 youth workers to become financial educators in 8 local communities through 1 short-term staff training event where they deepen their know-how on financial literacy, test, and learn how to facilitate the Youth Finance Academy training modules and the educational game.
SO3: To design high-quality financial education learning environments that can improve the financial literacy of 238 young people and 181 young entrepreneurs involved in 2 blended mobilities and 16 local workshops. 28 young people and 21 young entrepreneurs will directly participate in 2 international blended mobility activities during the project to improve their financial literacy through non-formal activities and multimedia, digital learning resources. Another 330 will benefit from local workshops, test the training toolbox, and the educational game, to be designed during the project.
The specific outputs that will be developed throughout the project are:
– A Joint research report on the “Financial Well-being of Generation Z”
– A guide with 140 best practices from the 7 partner countries
– A collection of 13 electronic financial education mind-maps (IO1)
– A YFA toolbox (IO2) with NFE activities to stimulate positive financial habits among YP/YE
– An educational game (IO3) designed in cooperation with external financial experts and educators