At what age should financial education begin? International expert: As early as possible

The National Bank of Moldova (BNM) has launched today a new podcast from the series “Giving Meaning to Money,” dedicated to the importance of financial education and its consolidation models worldwide, including in the Republic of Moldova. This time, Liliana Barbăroșie’s guest is Bianca Isaincu, an analyst in financial literacy and sustainable finance policies at the Organization for Economic Cooperation and Development (OECD) based in Paris, France.

During the show, the OECD expert responded to a series of questions related to developments in promoting financial education at the national and international levels. Among the topics discussed were the evolution of financial education in the last decade, the top three objectives for the future of financial education, and the importance of national strategies.

Additionally, Bianca Isaincu explained at what age financial education should begin and the models through which the discipline is introduced into the school curriculum.

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"Financial education in schools is very important. We believe it should start as early as possible. Through studies that have been conducted, we have seen that financial behaviors actually develop at a very young age, for example, as early as 7 years old. It is important for financial education to begin in schools because all students have access to it there. There are families where parents may not be financially literate and may not be able to provide this information to their children. School can be the environment where children have this opportunity," mentioned Bianca Isaincu.

Certainly, the podcast host and the guest also analyzed various solutions identified at the national and international levels to combat over-indebtedness and excessive financial risk-taking, as well as to manage personal budgets in a balanced manner.

The full interview can be watched below.