The FinaLY project aimed to strengthen financial literacy among young people by improving their ability to make informed and responsible financial decisions in everyday life. A key objective was to bridge the gap between theoretical knowledge and practical application, focusing on essential topics such as budgeting, saving, digital payments, and online financial safety. The project also aimed to develop and provide accessible, high-quality educational materials in both English and Greek languages, supported by the online learning platform Class365 to ensure flexible and continuous access. Another core objective was to actively engage young people through interactive and digital learning methods, including webinars, workshops, reels, informative social media posts and practical exercises based on real-life financial scenarios. Additionally, the project sought to enhance awareness of digital financial risks, such as online scams and impulsive spending influenced by social media, while promoting responsible financial behaviour. By implementing activities across Cyprus and Ireland, the project aimed to foster collaboration, share best practices, and contribute to improving youth financial literacy at a European level.
The FinaLY (Empowering Financial Literacy in Youth) project was proposed to address the growing need for practical financial literacy skills among young people in Cyprus, Ireland, and across Europe. Initial consultations with university student affairs offices and youth organisations, together with findings from the OECD/INFE 2020 survey and the 2023 Eurobarometer on financial literacy, highlighted gaps in young people’s ability to manage budgeting, digital payments, online banking, and financial safety. To understand these needs more profoundly, the consortium conducted desk research based on EU financial literacy studies, collected over 330 questionnaire responses from young people across Cyprus, Ireland, and other European countries, and organised two focus groups with 36 participants in Cyprus and Ireland. Findings showed gaps in applying financial knowledge to real-life situations, particularly in budgeting, credit management, and digital financial safety. Based on these findings, the consortium developed 5 key educational topics supported by bilingual presentations, videos, worksheets, webinars, workshops, and online learning through the Class365 platform.