We combat financial illiteracy with scalable and effective solutions
- WHAT we do: We fight financial illiteracy with a new edutainment approach that effectively bridges the gap between knowledge and behaviour.
- HOW we do it: We come up with scalable solution that will have a real social impact.
- WHERE do we do it? We are a European initiative based in Vienna (Austria). We are active in Central and Eastern Europe as well as South Eastern Europe.
Why we do it?
- Financial Illiteracy is a global problem -- especially among the young:
- private bankruptcies tripled in the past 10 years, both in Europe and the US
- in Austria, every 5th person in debt counseling is under 25, with 30.000€ of average debt
- 10% of Austrian households are unable to pay their bills due to high debts
Financial literacy is the key in order to:
- give people the opportunity to live a life in dignity and have the freedom to fulfill their dreams within the scope of their financial means
- decrease the number of people at risk of living in poverty due to unsustainable debts.
- In Europe, there are very few financial literacy initiatives. We are among the very first broaching the issue in a wider sense. Financial illiteracy has become a social challenge for Europe and it is high time that the issue is tackled!
If young people do not learn how to handle money, they will be massively impacted in their future. For instance, unemployment in...
Federal Minister Rudolf Hundstorfer, Federal Ministry of Labour, Social Affairs and Consumer Protection