What is a financial
education program?
Today, it is increasingly important to be informed and have a solid financial education. This requires knowing and applying methods and practices that help achieve your goals. Financial education will improve your understanding of financial products and provide you with the necessary tools for making informed decisions, developing saving habits, and planning your expenses. The Organisation for Economic Co-operation and Development (OECD) defines financial education as:
“The process by which financial consumers/investors enhance their understanding of financial products, concepts and risks and, through information, education and/or objective advice, develop the skills and confidence to become more aware of financial risks and opportunities, make informed decisions, know where to go for help and take any effective action to enhance their financial well-being.”.
OECD. July 2005
We summarize some of the advantages of financial education:
- Financial education allows users and the general public to improve their understanding of financial concepts and products, make appropriate decisions based on their circumstances and needs, and be alert to avoid excessive risks resulting from poor management of economic resources.
- Financial education aims to develop individuals, families, and businesses by providing them with the knowledge, skills, and abilities to make smart and informed decisions that enable them to achieve their goals.
- Financial education is a tool that contributes to the comprehensive development of individuals, enabling them to acquire a financial culture that allows them to build wealth and enjoy a better quality of life.
- Financial education, in addition to facilitating the understanding of basic personal finance concepts and money management, offers tools to face financial challenges.
We share some of the concepts that are regularly covered in financial education programs, and we expand on their definitions in the Glossary of Terms section:
Km 3.5 Vía Durán – Tambo.
Guayas, Ecuador.
Phone: +593 999 518 050
Km 3.5 Vía Durán – Tambo.
Guayas, Ecuador.
Phone: +593 999 518 050
S13-145 y Joaquín Gutiérrez.
Pichincha, Ecuador.
Phone: 02 2675096
y Mercedes Quinde.
Azuay, Ecuador.
Phone: 07 2803030
07 2800916
Parque del Atún area, Jaramijó.
Manabí, Ecuador.
Phone: 05 2389240
05 2389241
S13-145 y Joaquín Gutiérrez.
Pichincha, Ecuador.
Phone: 02 2675096
y Mercedes Quinde.
Azuay, Ecuador.
Phone: 07 2803030
07 2800916
Parque del Atún area, Jaramijó.
Manabí, Ecuador.
Phone: 05 2389240
05 2389241
Cdla. Urbasur, on the banks of the Guayas River
Guayas, Ecuador.
Phone: +593 987 283 968
