FLY (Financial Literacy for Youth) is a two-year project funded by the European Commission through the Italian National Agency for Youth (ANG Italia). The project deals with the topic of financial literacy of young people and is implemented through a partnership with organizations from five EU countries: Italy, Romania, Spain, Greece, and Sweden.
The research conducted in the countries involved in the planning phase clearly shows that Italy, Romania, Greece, and Spain are far behind Scandinavian countries, where financial education is taught as a curricular subject in schools and where young people begin to manage their finances early in life, the differences between the partner countries of the FLY project are indicative: while in Sweden, the financial literacy rate is around 65%, in the southern European countries the figure is about 45-49%, with the lowest, 25%, in Romania.
The FLY project aims to understand better the financial literacy gap of young people between 18 and 30 and to produce multilingual digital tools to help them fill it.
The main project results are:
- Digital Mind Maps, developed through best practice research and a questionnaire for 500 young people in 5 countries
- Digital Playbook, through which youth workers and volunteers can involve and train young people in each country involved
- Guidelines for organizations across the EU about young people and financial literacy