It is clear that good financial management affects not only our own lives but also the lives of our close ones, family and friends
Making financially responsible decisions is a skill that can truly change our future. Except for economists, most people didn’t have the chance to learn about finances in school. Citizens usually consult their family members and closest friends or rely on some previous experience, whether good or bad. This is confirmed by the research that Erste Bank has conducted among its client.
As much as 90 per cent of them have never had any kind of financial education, 60 per cent consult family and friends for advice, and only six per cent consult the bank. That’s why Erste Bank has launched a comprehensive, free programme of financial education, available to all citizens. First among the activities within the programme is #ErsteZnali online financial education platform, available as of today at ErsteZnali.rs.
On that occasion a panel was organized at the Museum of Science and Technology, dedicated to the importance of financial literacy, within which Nina von Gayl, curator at Erste Financial Life Park in Vienna, Milan Inić Yasserstain, young YouTuber and online entrepreneur and Vladimir Jovanović, social and startup support expert at Erste Bank took part. Slavko Carić, Erste Bank CEO, presented the programme and moderated the panel.
“For several years now Erste Bank has been working to improve the financial literacy of its clients and the wider community – through Step-by-Step programme, through its network, communication and sponsorship projects, participation in working groups and expert volunteering. We have realised that the near future is bringing new challenges and that all our previous activities in the field of financial education have to be approached strategically, by sharing our knowledge with all citizens of our country. We care about people learning to be financially responsible, but also that they apply this knowledge in practice,“ Carić stated.
Savings and personal finances management are the first areas that have been elaborated on the ErsteZnali.com platform, while in the coming period, the focus will be on loans, electronic banking, security, cards and other important topics.
Milan Inić, also known as Yasserstain, spoke from the perspective of the importance of financial literacy for young people, as well as those young people who base their business online.
“Through formal education, we did not have the opportunity to acquire practical knowledge in personal finances’ management, which made it difficult to enter the adult world and take responsibility for the decisions we make independently. When we became entrepreneurs, as high school students, we had to find ourselves, explore and collect information on our own. Today, many colleagues are dealing with similar things, so it’s a bit easier to share experiences, but there is a lack of systematic approach to education, and that’s why I like this initiative,” Inić said.
Vladimir Jovanović has many years of experience in the education of entrepreneurs and beginners in business. At Erste Bank he is a part of the team that manages the “Step by Step” program, which provides mentoring and financial support to startups, social enterprises and civil society organisations.
“Market trends and our experience show that what entrepreneurs lack the most is financial management knowledge, and this is precisely what is crucial for the sustainability of their business. The success of one business depends on the good management of finances but, unfortunately, it often happens that the lack of it is a crucial factor for failure, regardless of the business potential. #ErsteZnali programme is a step further in financial education, and a lot of colleagues showed great interest to get involved and contribute to the development of this quality programme with their experience and knowledge,” Jovanović added.
“Financial literacy is becoming more and more important for the society as a whole and for citizens’ wellbeing. It is highly important that people understand the connection between the economy and their budget. Having in mind that financial products are becoming more complex, through education we enable people to make responsible decisions which lead to successful financial management,” Nina von Gayl, curator at Erste Financial Life Park, concluded.
ErsteZnali.rs, fun, educational platform for serious financial topics, is available for everyone interested in improving their knowledge in the area of finances.