The Week of Financial Literacy of Children and Youth opened in Belarus

The Belarusian Currency and Stock Exchange traditionally opened the Week of Financial Literacy of Children and Youth, which will last in Belarus until 23 March, BelTA has learned.

An information campaign to raise awareness among young people about finance is held annually in March around the world. In Belarus, the events of the Financial Literacy Week are held at the initiative of the National Bank of the Republic of Belarus. In the Year of Improvement, the week will be held under the motto "Put your personal finances in order". Children will be told how to analyze expenses, keep records of income and expenses effectively, draw up a personal financial plan, how to cultivate financial discipline and create their own financial reserve, how to use credit services competently and comply with the rules of financial security, children will also study traditional and innovative ways of investing, investor rules together with specialists.

The National Bank acts jointly with the Ministry of Education and prepares information in a simple accessible form for children on the eve of the week. "In addition, in optional lessons on financial literacy, teachers can convey this information on their own. Many financial institutions are open this week, various lessons, events, promotions are organized for the children," said Yulia Sakovich, head of the financial literacy department of the Information and Public Relations Department of the National Bank.

According to Andrei Aukhimeni, Chairman of the Board of the Belarusian Currency and Stock Exchange, this year a record will be set for the connection of online schools and other educational institutions - about 500 educational institutions from all over the country will join the events of the week. "This year we decided to cover all regions of our country with this work as much as possible - these are villages, agro-towns, cities, farms and so on. We want to reach out to every child who is even in the most remote point of our country," he stressed.

Answering the question whether children have become more financially literate now, Andrei Auhimenya stressed that finances become more complex over time, so it is impossible to answer this question unequivocally. "There is no limit to perfection. The level of development of children ten years ago fully corresponded to the level of the country's financial system. Now there are more and more new interesting financial instruments, plus scammers are on the alert. Therefore, every year we re-teach children new tools, approaches and challenges," the head of the BCSE noted.

The financial planning skills formed at a young age will help young people in adulthood to confidently use the financial instruments offered on the market, which will significantly expand the boundaries of life opportunities and allow them to successfully take care of their well-being.

Traditionally, the opening ceremony of the Week of Financial Literacy of Children and Youth was held at the Belarusian Currency and Stock Exchange and launched various thematic events with a symbolic strike of the stock exchange bell.

BCSE is the central core of the financial system of the organized market of Belarus, which this year will celebrate its 32nd anniversary. Andrei Auhimenya briefly and easily told the children how the exchange works, how organized markets work, the repository of the Belarusian Currency and Stock Exchange. The children were also told in detail about exchange-traded, depository, corporate bonds, shares, currencies. In addition, they touched on the topical topic of protecting their finances from fraudsters.