11Onze signs 52 schools to improve financial literacy

Community fintech based in Barcelona 11Eleven enrolled 52 schools in Catalonia in its initiative to improve financial literacy.

The move comes after a green light study, revealing a lack of confidence among adolescents regarding financial knowledge. The report found that almost three-quarters of teens (74%) are not confident in their personal finance knowledge. A similar percentage of teens (73%) said they want to know more about personal finance.

James Sene, President of 11Onze

James Sene, president of 11Onze, explained the importance of the initiative for young people. He said: “Our mission is to engage and educate young students to improve their financial literacy by teaching them how money works and the technology behind it.”

“We understand that without basic financial education, children and young adults will face immense challenges in effectively managing their finances. This could lead to bad credit, bankruptcy and lack of savings.

Covering a range of financial topics

Currently, the initiative offers free one-hour lessons to schools; taught virtually or face-to-face. Courses currently offered include an introduction to financial education, open banking, and digital currencies. 11Onze has already given trial lessons at Arraona Institute in Sabadell.

Sène explained, “We cover topics like credit cards, crypto, and money management. For young people, digital banking is no longer a mystery, although they know little about all the processes behind it. Since almost all of them have financial applications on their mobile phones, they are keen on financial education.

Joan Medard Oriol Barristeacher at Cendrassos Institute of Figueres, explained what the fintech community offers to students. Barris said: “We were delighted that 11Onze was offering this financial literacy session. It was quite popular. It broadened the subject I teach and covered key technologies used in financial institutions, financial instruments, payment and collection systems: topics you don’t learn about in your day to day life. »

James Séne highlighted the growing importance of ensuring that young people are financially literate today. He explained: “In today’s environment, where we have to rely on ourselves to make important decisions such as which credit cards, mortgage deals or savings instruments to choose, the responsibility to educate ourselves is paramount – both individually and collectively.”

Louis R. Hancock