11Onze, pioneers in financial education in Europe
The European Commission and the OECD’s International Financial Education Network have published a major European framework for promoting financial literacy. The report is the result of two years of work and aims to ensure that European citizens have all the tools they need to manage their money. 11Onze is the first financial institution based on financial literacy in its community.
Financial literacy refers to a combination of critical thinking, knowledge, personal skills and habits that enable us to make the right decisions for individual and collective financial well-being. It is with this objective in mind that the European Commission and the OECD’s International Financial Education Network have promoted this framework, which is not only a comprehensive curriculum, but also a conceptual basis on which to build the financial policies of Europe’s nations.
As such, the report provides a set of competencies to support the development, implementation and updating of national financial education strategies; to promote financial education programmes and the development of teaching materials; and to reduce the exclusion that leaves behind the most vulnerable citizens, such as the elderly, young people, migrants and women.
11Onze has been at the forefront of creating financial education materials, and now the European framework adds new useful work streams to continue creating content. Specifically, the framework provides tools for understanding the world of finance based on four main thematic areas:
- Financial transactions, i.e. everything to do with money and currency; income; prices, purchases and payments; and financial records and contracts.
- Home economics, i.e. all those skills that enable us to manage in the short and long term, such as saving, investing, managing income through budgeting and planning.
- Risks and rewards, i.e. financial security, insurance, risk assessment and financial products.
- Financial ecosystem, or all those skills related to consumer protection, financial advice, public spending, taxation and the characteristics of the global financial ecosystem.
Financial literacy, the main pillar of 11Onze
Financial literacy is precisely the main pillar underpinning La Plaça of 11Onze, a pioneering digital platform that brings together an active community of more than 10,000 people. La Plaça is the agora for building financial sovereignty. For this reason, it promotes content about the world of finance, from less to more in-depth. This is how the Magazine is updated daily, with special sections such as 11Onze Check for the verification of information, and pills prepared by our agents are published.
With the same purpose in mind, the lessons in the Learn section are promoted, such as the documentary series ‘El Diner’ and courses on the collaborative economy, fish markets, basic income and oligopolies, among others. In the same way, 11Onze promotes more careful productions through 11Onze TV, such as the documentary ‘L’Academy’ or the podcasts Pasta Z, Bank Abuse and People, always with the economy and money management as the thematic axis.
In addition, the fincom has opened up a new area for the dissemination of financial content through Fintech Talks and the ‘11Onze School’ project. The Fintech Talks are a meeting point on financial innovation for all audiences and, especially, for entrepreneurs, startups and companies, organised in collaboration with Monday, a network of coworking spaces in Spain. And ‘11Onze School’ offers training sessions on the world of fintech in educational centres, companies and professional associations.
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