The FinaLY Erasmus+ project – Empowering Financial Literacy in Youth (2023-3-CY02-KA210-YOU-000185401) –  has just published its Synthesis Report, offering valuable insights into the financial literacy levels, attitudes, and behaviors of young people in Cyprus and Ireland.

Through combination of desk research, 331 survey responses and focus groups conducted with over 36 young people, the report reveals a consistent pattern: while youth demonstrated good theoretical knowledge in areas like inflation and risk-return relationships, they struggled with the practical application of key financial concepts, including compound interest and credit card management.

Highlights from the research:

• Less than 14% of respondents had formal exposure to economic theory.
• Interest in daily money management outweighed interest in long-term planning.
• There is growing curiosity around digital finance tools, but limited confidence in using them.
• Focus groups uncovered a need for practical, scenario-based learning, especially around budgeting, risk assessment, and online financial safety.

📘 Read the summary of synthesis report here: https://finalyproject.eu/educational-material/

The FinaLY project, coordinated by ECECT (Cyprus) with partners YouthNet (Cyprus) and Meath County Council (Ireland), aims to ensure these findings guide future financial education efforts across Europe.

💬 We invite youth, educators, and policymakers to explore our findings and integrate them into practical training interventions that close the gap between financial knowledge and real-world application.

#FINALYproject #ErasmusPlus #FinancialLiteracy #YouthEmpowerment #Cyprus #Ireland #EPALE

This work "FinaLY Report" is licensed under Creative Commons Attribution 4.0 International

This work "FinaLY Report Results" is licensed under Creative Commons Attribution 4.0 International