International experience in teaching financial literacy to children and youth

Abstract

The article is devoted to the international experience of teaching financial literacy to children and youth. This article responds to the current situation in our society and the need for financial education in schools. The modern world requires financial and economic literacy. The state of research on the problem in the theory and practice of primary education is analysed. An analysis of international experience in teaching financial literacy and organising the educational process aimed at developing the financial skills of primary school students is carried out. Financial literacy and financial education are not new categories for the world experience of teaching young people. The number of countries implementing financial literacy programmes is growing every year. For example, there are more than 180 such programmes in Europe.
The study has shown that it is extremely important to include financial literacy in the educational process in general secondary education institutions, in particular in primary school. An important role in the process of teaching primary school students financial literacy is played by relevant programmes developed by Ministries of Finance, National Banks, NGOs, charitable foundations, etc. that exist in different countries of the world (USA, UK, Netherlands, Turkey, etc.). The author concludes that in Ukraine, there is a need for young people to acquire competencies in various types of financial activities due to the peculiarities of the development of Ukrainian society. For these reasons, financial literacy is included in the key competences that should be developed in schools.