Having knowledge about finances makes our lives easier and contributes to our well-being. Financial culture is a fundamental tool to properly manage our resources and be able to make the right decisions in our day to day. The new chapter of Nosotros, the CaixaBank program in which we all fit, focuses on personal finance education.
The data is revealing. The 100 people who participate in Nosotros have answered questions about their knowledge of personal and family finances. Although 77% affirm that they talk about the value of money with their children. However, only 20 out of 100 have started preparing for their retirement. “Time passes very quickly, the sooner we start the betterâ€, admits one of the participants.
In this case, the stories shown in Us are a true reflection of reality. Financial education begins at home, but theory is one thing and practice is another. According to a recent study by Funcas, despite the fact that 97% of mothers and fathers attribute the main responsibility for their children’s financial education to the family, 45% never talk to them about the income that comes into the home each month and the 47% do not do so either on the taxes they pay.
The report also reveals that only 14% of the fathers and mothers surveyed use the monthly or weekly payment —a recommended instrument of financial education— with their children in primary education and it does not reach a third (29%) who do so in secondary school. . These deficiencies in financial education that begin in childhood are related to adulthood, since almost half of the population (46%) classifies their financial knowledge as “low” or “very low”.
In general, we reach adults valuing the importance of money but not being clear about how to manage it. In this context, it is essential to promote financial culture among the population. For this reason, CaixaBank has its own Financial Culture Plan, within the framework of the social axis of the Sustainable Banking Plan, which includes initiatives aimed at different types of public. During 2022, more than 100,000 people attended conferences, courses and workshops organized by CaixaBank, and its digital content exceeded 12.5 million views.
The entity develops three types of actions on financial culture: awareness, training and knowledge creation. This strategy responds to CaixaBank’s firm commitment to contribute to improving knowledge of relevant economic and financial concepts for day-to-day decision-making by customers, shareholders, vulnerable groups and society. Our finances will change throughout our lives, but making conscious decisions gives us the opportunity to have more control over our money.
Among CaixaBank’s initiatives on financial culture is the Mucho por Hacer program, with informative content and awareness-raising about finance disseminated through different digital media. Added to this is the Economics and Finance Training Classroom program that helps the bank’s shareholders broaden their knowledge to make the best decisions and, through CaixaBank Research, the bank’s research service, knowledge is promoted thanks to to research and economic analysis through articles and conferences.
In addition, the CaixaBank Volunteer program gives workshops on basic finance, both digitally and in person, for all those who wish to broaden their knowledge of economics. The CaixaBank Financial Culture Plan also includes the CaixaBank Talks project, a series of talks on savings, protection and financial planning focused on different life situations.
