26.Feb .2021 00:00

Finns to Have the World’s Best Financial Literacy

Finns to Have the World’s Best Financial Literacy
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The goal of the financial literacy strategy proposal issued by the Bank of Finland is that Finns will have the world’s best financial literacy by 2030. The aim is that as many people as possible would understand the importance of financial literacy in their lives and are capable of making good financial decisions. 
 
Olli Rehn, Governor of the Bank of Finland, issued a national strategy proposal for promoting Finland’s financial literacy to Anna-Maja Henriksson, Minister of Justice, Bank of Finland reports.

According to the strategy proposal, reaching the target state calls for a change in operating methods. From the point of view of individuals, their ability to understand and anticipate their financial situation better is of key importance. Easily accessible low-threshold guidance and information services must be available which everybody can use. The proposal emphasizes that citizens’ better financial literacy produces well-being not only for themselves but also for the entire national economy.
 
”The financial literacy of Finns is on the average good, though there are differences between population groups. With systematic, well-resourced financial literacy work, it is possible to broadly improve citizens’ knowledge and skills and thereby prevent over-indebtedness and other financial problems,” says Governor Olli Rehn.
 
”This is an important objective, which I strongly want to advocate. Questions related to over-indebtedness are especially topical these days, and strengthening citizens’ financial literacy is a key goal. I am glad that the proposal focuses on the ‘positive aspects’ of financial literacy, i.e. good financial management, saving and investment,” Minister Henriksson said.