Global Money Week ends today. As part of this, there were presented useful financial concepts for managing the personal budget, initiating an online business and making investments. On the completion of Global Money Week, the National Bank of Moldova (NBM) launches an information and awareness-raising campaign entitled “Financial education – personal, social and economic benefit”. As part of this campaign, the Bank disseminates a series of videographers, podcasts and video guides that present financial concepts, useful advice and other information that should be known in the daily life in a succinct and accessible way, IPN reports.
According to the governor of the National Bank of Moldova Octavian Armașu, the events that formed part of Global Money Week took place in a version adjusted to the current reality, based on a virtual dialogue. Those who wanted to take part in the organized activities could take part in a number of seminars, depending on the information needs. The students of secondary schools and lyceums could find out many interesting things within the National Bank’s financial education platform Moldova Banking Hub. Also, together with other participants of different ages, they could make an online visit to the exhibition hall of the NBM and see a special coin exhibition at the National Museum of History of Moldova.
The campaign “Financial education – personal, social and economic benefit” is carried out with support from the Good Governance Fund of the UK and is intended for consumers, entrepreneurs and the general public. According to Octavian Armașu, only intelligent financial planning, such as budget planning, formation of reserves for emergency situations and preparation for retirement, can help the population to benefit from a more stable economic situation, this being an important pillar in the economic development of society.
Liubomir Chiriac, director of the Institute for Development and Social Initiatives “Viitorul”, said that as part of the project, they managed to identify a number of problems related to the financial education, depending on the target groups, starting from the younger ones and ending with older persons. Financial education is first of all a priority of the state. The state wants to have people with financial culture who would be able to increase revenue, to correctly manage their savings and to correctly invest in the country’s economy. Financial education should be stimulated at schools, from the primary classes, and also for employees. The products worked out together with the NBM can be useful to all the country’s citizens.
Andreea Paul, president of the Initiative for Competitiveness (INACO) Romania, said there is no money movement without confidence and hope. When these two are not felt in what moves around, the money stops and becomes useless. The NBM should clarify several concepts and should delimit the approach to the public communication campaign for financial education at three levels: financial education, financial intermediation and financial inclusion.
Student Valentina Butmalai, Financial Literacy Ambassador, said the financial education is important not only for investors, but also for a family. The persons who are not financially educated can become victims of fraud. If this education persists, they will have more chances of making savings favorable for them.
Global Money Week was held during March 22-26.
