Financial education still tends to slip into the list of pending topics in Spanish society, as OECD data shows. Thus, PISA reports reveal that Spanish 4th year ESO students are 12 points below the average in this subject. Even if, despite everything, our country is improving year after year, thanks to the different initiatives promoted by different public and private organizations.
And the academic curriculum leaves room to work on this type of content through transversal themes, thanks to the latest modification of the educational law (LOMLOE). In other words, financial education can be addressed by teachers as part of the curriculum of several subjects. More precisely, the regulations integrate it through two key skills: entrepreneurship and mathematics, and those linked to science, technology and engineering.
At the same time, financial education is also experiencing specific development in several subjects of primary education, ESO, baccalaureate and vocational training, such as mathematics or education in civic and ethical values, among others , according to the report. Financial competence in the Spanish education systemcommissioned by the Financial Education Plan, an initiative promoted by the National Securities Market Commission (CNMV), the Bank of Spain and the Ministry of Economy, Commerce and Business.
Specific programs aimed at the school-age population are also promoted by the financial entities themselves. This is the case of ABANCA and Afundación, organizations that since 2015 have promoted a specific plan that, only last year, reached more than 200,000 students. Its objective is that this subject is relevant from childhood and adolescence, since, in the opinion of those responsible, the key is to improve their financial culture, which involves not only having knowledge, but also develop a positive attitude towards financial management of money. and adopt behaviors that allow you to achieve long-term financial well-being. In short, a vital objective that appeals to emotions and the importance of living life with fewer worries.
To broaden the scope of application, ABANCA has opted for the implementation of digital formats that facilitate the teaching of financial concepts in a fun and accessible way. Thus, the three free programs have names as evocative for students as Certainly, The crazy adventure of saving And Keep your money safe.
In the first of these, participants must organize a school party, with the challenge of raising funds for an extracurricular activity, all aligned with the values of sustainability and promotion of local culture. This approach not only allows them to acquire knowledge in economic management, but also promotes collaboration, commitment to the environment and entrepreneurship.
The quality of this program has been recognized nationally, receiving the Finance for everyone from the Bank of Spain and the National Securities Market Commission (CNMV), as well as an award from the Spanish Confederation of Savings Banks (CECA) for its contribution to financial education.
On the other hand, the program The crazy adventure of savingwhich is in its fifth edition, was designed for boys and girls between 1st and 6th grade of primary school. This collaborative game introduces in a fun way the essential concepts of savings and responsible consumption. Aligned with the educational objectives of LOMLOE, this project teaches children to distinguish needs from desires, by promoting balanced consumption habits through daily examples and simple mathematical operations.
The importance of cybersecurity is another of the topics that ABANCA has integrated into its educational offering through the program. Keep your money safe. In this case, focused on secondary school and basic and intermediate vocational training students, it teaches young people to identify and protect themselves against threats in the digital environment. In a context where frauds and scams online are increasingly common, this initiative aims to train students as “specialist agents” in digital security, providing them with tools to recognize risks such as phishingMalicious applications and scams on social networks or cryptocurrencies. As a new feature, this year participants can access tutoring online with educational advisors, which guarantees continuous support during learning.
As part of the financial education program, ABANCA also supports the development of business skills of young people through the program Talents of young companies. This initiative uses a business simulation to allow participants to experience running a real business. In its last edition, more than 11,400 young people from all over Spain participated in this game, which allowed them to develop key skills in decision-making, business strategy and problem solving.
Bridging the digital divide
Alongside efforts with young people, ABANCA and Fundación have also focused much of their efforts on improving the financial inclusion of older people. This group faces particular challenges, particularly in rural areas. This is why, since 2022, a specific program has carried out a total of 114 training actions, with the participation of nearly 1,200 people.
So far in 2024, 53 additional sessions have already been organized. These include a theoretical part, which explains, for example, the most common operations that can be carried out on an ATM, and a practical part, which demonstrates the operation of these devices in real time. This hands-on approach has been crucial in increasing older users’ confidence and enabling them to complete tasks independently. Additionally, they receive advice on mobile banking and basic security measures.
These workshops also focused on financial fraud prevention, providing seniors with knowledge on the most common fraud methods, such as phishingvishing and smashing. ABANCA volunteers, who lead the sessions, play a fundamental role in providing personalized attention and answering all questions from this group.
