FAIRLY – Financial Education for Legal Economy
Éducation des adultes
Action clé :
Action clé 2
Camera di Commercio Italo-Lussemburghese (Luxembourg)
Coopération Bancaire pour l’Europe (Belgium)
Varna Economic Development Agency (Bulgaria)
Centro Italiano Opere Femminili Salesiane – Formazione Professionale Piemonte (Italy)
The rising complexity of the financial system has hampered the capacity of every EU citizen in the field of economic decisions. European citizens need more knowledge concerning financial instruments, firstly to avoid taking wrong economic decisions and, secondly, to improve their chances of a safe future. Any commercial, economic, or social action requires basic financial competences that many people lack. This becomes especially problematic for young people, as this lack of knowledge becomes a real obstacle to planning their economic life. Moreover, financial literacy programmes are generally not able to reach adults, households, and NEETs, which face more barriers in learning such subjects. Low-skilled people are more likely to address “black financial markets”, fostering illegal practices and exposing themselves to risks. As a result, low-skilled people are not encouraged to deal with financial and credit institutions, or with the entrepreneurial world, increasing disparity in financial literacy among European countries and citizens.
The main objective of FAIRLY was to foster financial literacy towards unemployed people, but also households and professionals. At the same time, the project aimed to give them the ability to defend themselves from the most widespread illegal practices in the daily finance and economic world, fostering “anti-fraud skills”. To do so, the consortium combined an innovative training scheme for adults by exploiting the digital potential.
The activities implemented are:
– management activities
– quality assurance activities
– dissemination activities
– four transnational project meetings and monthly online meetings between partners
– a learning, teaching and training activity in Turin
– six multiplier events in Luxembourg, Bulgaria, Belgium, Italy, Norway, and Spain
– production of six legal economy training modules
– production of one report on the status of financial literacy and legal economy in the EU
– production of one interactive training platform
– production of one practical guide for informed and safe financial choices.
The outputs of the projects are:
– legal Economy Training modules: the partnership developed the content, short introductory videos and self-assessment sections
– FAIRLY Platform (accessible from mobile devices): the platform is easy to navigate and its login system is integrated with social networks
– practical Guide for Informed and Safe Financial Choices: the partnership developed six topics, including real-life cases and Dos and Don’ts. The Guide is downloadable from the project website.
The following impact has been reached:
– the project has improved the partners’ capacity of developing educational programmes at an international level. Moreover, partners are discussing ways to enlarge the project, by creating new projects in the field
– the direct target group (low-skilled and unemployed people, households, professionals) can benefit from educational content and a practical guide for informed financial choices, both available on an interactive platform, allowing to reduce the existing gap in financial literacy. Learners also showed an increased motivation to start and stay in lifelong learning
– the indirect target group (adult education providers, education institutions, and Chambers of Commerce) can offer innovative learning content that will result in more potential participants in their courses
– external stakeholders involved had the chance to express their opinion on the development of the material to target it to the needs of the target group.
The partners have worked since the beginning to ensure sustainability of the project after the end of EU funding by directly involving target groups and stakeholders in the project implementation.
The project website is attractive and interactive, allowing users to rely on it also in the future. It will be maintained for at least five years after the project end. The practical orientation and its free availability as open source give an opportunity to use it in different contexts and guarantee a long-lasting multiplication effect.
In the long run, the impact of the project is expected to be spread also to other European countries. This is ensured, for example, by the involvement of international associated partners.
FAIRLY will therefore continue to create stable bridges with regional networks of local authorities and public bodies, continue training activities and spread the project mission.