Financial Education
Financial Education Strategy
Financial education strategy involves a comprehensive, systematic approach to dealing with the low level of financial literacy of citizens of the Czech Republic. The goal of the strategy is to create a comprehensive system of financial education to increase the level of financial literacy. The strategy outlines the main problems and corollary priority tasks in this area, including specific tasks for key actors, with an emphasis on the role of public administration entities.
Financial education here is a tool for increasing the level of financial literacy of citizens of the Czech Republic, and thereby their potential as consumers to adequately work with information concerning the financial market, so that they may ensure their own needs and the needs of their family with regard to changes in their life situation.
Financial education is a key element in consumer protection in the financial market and represents one of the objectives stipulated in the Framework Policy of the Ministry of Finance on Consumer Protection in the Financial Market.
Documents
Financial Education Strategy
Contents
-
Introduction
-
The meaning of financial education
-
What is understood by financial literacy –definition and current situation
-
3.1 Financial literacy as a set of necessary competencies
-
3.2 Current situation
-
-
Priorities and target groups for financial education
-
4.1 Priority areas for the future
-
4.2 Target groups
-
-
Measures
-
5.1 Two-pillar structure of financial education
-
Financial Education System for primary and secondary schools
-
System for lifelong financial education of consumers
-
-
5.2 Effective cooperation between key actors in financial education
-
Role of public service entities
-
Role of professional associations
-
Role of social partners
-
Role of consumer associations
-
Role of educational institutions
-
Role of the media
-
Role of other entities
-
Ensuring effective cooperation
-
-
5.3 Targeted preparations of financial education projects
-
-
Financing and evaluation
-
Action plan
Source: MOF - Financial Market Analyses and Development Department, Consumer Protection Unit - 273: Financial Education Strategy, published 11/2008, for download in PDF format, english version
Public Opinion Poll
In 2007, the Ministry of Finance published a public opinion poll on financial education. In particular, the goal of the research was to identify the attitude of Czech citizens to the question of financial education and the extent of their needs for further education in this area.
The research indicated an urgent need for systematic development of financial education in the Czech Republic.
Main conclusions of the public opinion poll on financial awareness in the Czech Republic
carried out by STEM/MARK, a. s. for MOF in 2007.
Source: MOF - Financial Market Analyses and Development Department, Consumer Protection Unit - 273: Main conclusions of the public opinion poll on financial awareness in the Czech Republic, published 11/2008, for download in Pdf format, english version
Financial Education System for primary and secondary schools
Financial Education System for primary and secondary schools describes the process of increasing financial literacy at primary and secondary schools (i.e., implementing of financial education into school education).
It contains the Financial Literacy Standards which represent the ideal level of financial literacy for appropriate target group. Financial Education System for primary and secondary schools is fully referring to the Financial Education Strategy.
Documents
Financial Literacy Standards
Contents:
- Financial literary standards for primary schools
-
Financial literacy standards for secondary schools
Source: MOF - Financial Market Analyses and Development Department, Consumer Protection Unit - 273: Financial Literacy Standards, published 11/2008, for download in Pdf format, english version
Working Group for Financial Education
Working Group for Financial Education is a long-term independent platform for discussions, exchange of information and experience and coordination of upcoming activities among all relevant stakeholders. Members of this WG represent
-
governmental institutions,
-
financial industry associations,
-
consumer associations
-
and education experts.
The overall objective of the WG is to ensure an effective cooperation among all of the above mentioned groups in the area of financial education.
Documents
List of members - Working Group for Financial Education
List of members of Working Group for Financial Education – Last update : November 2008
-
Source: MOF - Financial Market Analyses and Development Department, Consumer Protection Unit - 273: List of members: Working Group for Financial Education – November 2008, published 11/2008, for download in Word format, english version
Useful links
Czech Banking Association website on financial education 
The Czech Banking Association initiated the creation of a financial education website on a non-commercial basis (http://www.financnivzdelavani.cz/ 
). This website is dedicated to the general public and covers all the financial market sectors. It should help the consumers with information on financial terms and products.
Contact details on institutions and projects dealing with financial education in the Czech Republic - year 2009
Source: MOF - Financial Market Analyses and Development Department, Consumer Protection Unit - 273: Contact details on institutions and projects dealing with financial education in the Czech , published 29/01/2009, for download in Pdf, english version
