The topic of a new episode of the CNB Podcast is financial literacy. Bojan Fras, Vicegovernor of the Croatian National Bank, spoke about the definition of financial literacy, survey findings on the level of financial literacy in Croatia and the activities carried out by the CNB to improve financial literacy.
Sections:
00:59
Financial literacy is a set of knowledge, skills and attitudes that help us make informed, rational and responsible financial decisions.
03:03
Financial and economic literacy are two connected but still different dimensions of knowledge that relate to our understanding of and behaviour in the world of money and markets as well as the society.
05:30
Numerous studies confirm that financial literacy plays a key role in reducing the risk of financial problems – both at the individual level and at the level of society as a whole.
09:10
For years, the CNB has carried out a variety of activities to promote financial literacy, from lectures for primary and secondary school students and college students to the organization of the Great Student Debate and educational campaigns.
14:03
Financial literacy should be systematically taught within the education system. Although individual projects and workshops are currently being carried out in schools, the absence of a formal subject means that not all students have the same access to education on money.
15:42
According to a survey conducted by the CNB and Hanfa in 2022 and 2023, Croatian citizens achieved a total financial literacy score of 62 percent. This is higher than the average of all participating countries (60 percent), but still slightly below the OECD member countries' average of 63 percent.