Financial literacy education is fragmented in Lithuania and faces challenges across Europe, with varying national approaches.
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Financial literacy education in Lithuania remains fragmented, with both academics and educators lacking necessary skills; while initiatives are underway, the process is too slow to meet the needs of the modern job market. The Lithuanian Ministry of Education and Science (ล MSM) is increasing dedicated time for economics and business education in upper secondary schools and integrating financial concepts into various subjects from early grades. Despite these efforts, the Lithuanian Bank’s Financial Literacy Center reports a decline in the general financial literacy level of residents, with weaknesses noted in knowledge of money and investing. Internationally, less than 20% of EU citizens feel they have high financial literacy, with significant challenges in Southern Europe; for instance, Spain’s financial literacy has declined despite curriculum inclusion, while Greece does not have a dedicated subject, and Croatia is reviewing its economics curriculum. In Bulgaria, non-governmental organizations play a crucial role in providing financial education due to the lack of a formal government strategy.
