Citizens of the EU suffer from their low level of financial and legal literacy, which profoundly affects both the individual well-being and the economy of the member states and the EU as a whole. EU loses substantial financial and investment opportunities due to the low financial and legal literacy of its citizens. The differences in financial and legal literacy vary largely in different EU countries and contributes to the fragmentation and economic disparities among the member states. Low financial and legal literacy of the EU citizens makes them more vulnerable to the fluctuations of the economy and crisis situations, which also affects the capacity of the EU to overcome such economic disturbances. This is particularly true regarding the current crisis triggered by the COVID-19 pandemic. Fundamental divergences of financial and legal literacy in different EU countries prove that there is a fundamental need to levy the barriers and ensure the access for all EU citizens to the best European practices of financial and legal education. Taking into account the aforementioned context, the Financial-Legal Literacy for Europe (FIN-LEG-LIT) project aims the following objectives: 1) Developing a Manual (“Financial-Legal Literacy Manual for Europe”) of financial-legal education for trainers and adult learners, based on the best European practices on the matter and reflecting the objectives of the EU related to green finance and Capital Market Union. The Manual and the Online E-learning Tool will particularly target low-income and/or low-skilled and/or low-qualified adults in countries and regions with different level of economic development. The Manual will be universally applicable throughout the EU and could be used by persons having different financial and legal literacy level; 3) Launching and maintaining a financial-legal literacy Online E-learning Tool, which could be used anywhere and in any environment for financial-legal education courses or individual learning; 2) Training of the financial-legal literacy trainers to provide financial-legal literacy education to adult learners using the Manual and the Online E-learning Tool; 3) Providing financial-legal literacy training to the low-income and/or low-skilled and/or low-qualified adult learners. 5 partner organizations participate in the project. The participating partners cover the spectrum of competences, needed to the successful implementation of the project. Therefore, the partnership includes: (i) EURL Aristote (a private company, Paris, France), which has a profound experience in the management of EU projects and activities of education of adults; (ii) VsI Finansu teises institutas (a non-for profit organization, Lithuania), which is a scientific research institution, focusing on the financial law and the promotion of the financial and legal literacy and having a profound experience in education of adults; (iii) Organisation for Empowerment and Nonformal education (an association, Le Moule, Guadeloupe, France), which has a profound experience in working with the community and in particular, with its members in disadvantageous economic and/or social situations; (iv) Euroform RFS (non-governmental organization, Italy) specialized in training and career guidance, with particular focus on ICT, and having an in depth experience in adult learning and development of e-learning tools; (v) European Multicultural Association (non-profit organisation, Bulgaria), working mainly in main field of social inclusion and informal education for youth and having a well-established experience in the field of adult education in an economically disadvantaged environment. To achieve the aforementioned activities all project partners contribute with their respective know-how and competencies. They will perform the research activities, necessary to create the Manual, based on the best European financial and legal literacy training and learning practices. They will create e-learning tool, based on the results of the aforementioned research and feedback from adult learners. Project participants will implement workshops for both trainers and learners of the finacial-legal literacy and ensure the dissemination of the results of the project. As a result of the project the participating trainers will be availed to use the Manual and the Online E-learning Tool in the training of financial-legal literacy to the adults, with a particular focus on the socially and economically disadvantaged learners. Adult learners directly participating in the project will improve their financial-legal literacy skills. The created tools will be freely available for all Europeans via the project website and other partner websites and internet media. The project will contribute strongly to the overall development of the integrated European approach towards the financial and legal literacy education of its citizens.
Thanks to this project we have improved the pedagogical skills of the project partners' staff members, the social partners associated with the project, in financial and legal education will be developed, the legal-financial education of the project participants - low-income and/or low-skilled adult learners, the financial and legal education of the general public, a coherent European approach, integrating best practices in the field of financial and legal education from different EU countries.
The financial and legal literacy of EU citizens is low. This situation contradicts the EU's objectives. It is therefore essential to develop financial and legal literacy in line with EU objectives. As part of the Financial-Legal Literacy for Europe (FIN-LEG-LIT) project, the Financial-Legal Literacy for Europe manual has been designed. It is based on relevant European best practices, taking into account the framework of financial competences for adults in the European Union (https://finance.ec.europa.eu/publications/commission-and-oecd-infe-publish-joint-framework-adults-improve-individuals-financial-skills_en) adopted in 2022. We have also designed an e-learning tool, and set up training courses for financial and legal education educators/trainers and staff from partner organizations, who work with low-income and/or low-skilled adult learners.