by Björn Schöpe
translated by Annika Backe
March 10, 2016 – Next Monday, March 14, 2016 marks the date again: the Global Money Week will begin. Over the course of one week, the goal is to teach children and youth about money to enable them to manage their finances in a self-determined and conscious way.
Many young people get into debt
In Germany – to mention only one example – about one third of the youth between 14 and 24 already got into debt once. Most of the time, it is about fulfilling their wishes; electronic devices are especially popular, notably the latest smartphones. By the way, it is no longer the parents who act as money lenders but friends and banks. These numbers clearly show: it is vital to inform!
Child and Youth Financial International
In 2012, Child and Youth Financial International (CYFI) made it a matter of concern to work towards this goal: to help young people become empowered participants in the financial world.
One of CYFI’s projects is the Global Money Week, held in the second week of March each year since 2012.
Global Money Week
CYFI coordinates this action week and provides ample information material. However, this material only serves as an inspiration since the local actions proper will be carried out by banks and credit institutions. Likewise involved are government institutions and the “general public”, schools, companies and other parties.
The list of events and possibilities is large, comprising online seminars (webinars) and visits to a stock exchange or a bank as well as discussions with celebrities and presentations at schools.
In Venezuela, for example, a committee organized a tour of the country last year. The local pupils were asked to write down their lifetime dream. The experts then talked with the children about how these dreams could be financially fulfilled. This year, too, will see many children and youth in many stock exchanges throughout the world, ringing the bell and thus starting the new Week.
Global Money Week Award
Every year, particularly devoted hosts are eligible to win an award. The booklet presenting last year’s winners illustrate the full range and the global participation, ranging from Guatemala to Ruanda, from Brunei to Belarus, from Croatia to Bangladesh. About 5.2 million children and youth were involved whereas nearly 7 million are expected to participate in 2016.
The Week has not started yet and there is still time to register an event. If you have an idea please contact the organizers.
This is the Global Money Week website.
The upcoming events are listed in this calendar.
Ample information materials in different languages and for several target groups are available here.
You may read the Global Money Week Report 2015 here.
And these are the 2015 award winners.
This is the official website of Child & Youth Finance International.