Context
The gender gap in financial literacy is still a persistent problem for European societies. According to the European Consumer Payment Report (2020), women are less confident about financial matters than men. OECD/INFE International survey of adult financial literacy (2020) exposed gender disparities in financial literacy compounding women’s difficulties in securing their financial future and well-being, and in participating confidently in economic and financial activities. Institute of Women’s Policy Research (2017) as well as the Austrian Survey of Financial Literacy (2019) exposed that women have significantly lower rates of financial literacy than men. This leaves women at a potential disadvantage, considering they still earn less than men and are responsible for the same living expenses.
Aim of the project
The project will offer new high-quality learning opportunities tailored to women’s needs. Currently, in all participating countries (Austria, Italy, Portugal, Lithuania, Slovenia, and Poland), the available training in the field of financial education for women is limited. Training centres and women’s associations are trying to increase offers for women, but there is still a huge lack of training on financial literacy for women. FINPOWER aims to strengthen women’s knowledge of sustainable financial literacy, by creating a new learning opportunity in the field of financial management and minimising their discrimination in the field of financial literacy.
Impact
Financial literacy is essential for economic and financial stability and development. There are still significant gaps between women and men in terms of levels of financial literacy, which is leaving women at a potential disadvantage. FINPOWER is set to empower women’s optimal decision-making. With the knowledge and information offered by the learning program, women will increase their ability to use financial management services and strengthen their self-esteem and confidence in their financial skills to participate equally in modern society. Higher financial literacy enables people to manage their monetary issues, and improve the performance of their portfolios.
Results
GAPS CATALOGUE includes the status quo of women’s financial education, practice examples on financial education and an analysis of the needs of women in the area of sustainable financial education to empower their day-to-day decisions.
LIFE SKILLS COMPETENCE PACK includes micro-learning that addresses real-life financial situations faced by women. The scenarios and challenges are designed to provide insight and possible solutions to problems women face frequently.
FINPOWER Sustainable Finance Academy is divided into 2 parts. The first will target trainers and will include training materials such as manuals. The second part will target women directly, offering micro-learning and self-assessment tests to check which content they should learn first.
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Projects news
Project’s information
- Duration 24 months, from 01.11.2022 to 31.10.2024
- ID 2022-1-AT01-KA220-ADU-000087985
ENG TO DO
Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or the European Education and Culture Executive Agency (EACEA). Neither the European Union nor EACEA can be held responsible for them.