COVID-19 is painfully exposing the existing and persisting health, social and economic inequalities in our societies. This pandemic has the heaviest impact on the lives of people living in deprivation or facing difficult socio-economic circumstances. The constant threat of financial crisis has made it crucial to address the need for financial literacy educational programs.

Without it, people fail to make the right decisions. As it affects everybody, it covers all demographics, all geographies, and all cultures, it is essential that the public, private, and not-forprofit sector join forces transnationally to support youth develop their financial literacy.

During the initial phase of developing YFA project, 8 organizations collected data from 314 young people (aged 18-30), 59 young entrepreneurs (aged 18-30), 149 youth workers (aged 18+) to get a better insight of the financial behavior and financial learning needs of these groups.

More than half of the young people (51%) stated that they are not in control of their finances, and 67% of them affirms they have received no financial education in schools and they relate only to direct life experiences

Most young entrepreneurs stated that they are not familiar with financial management tools, and that they need to learn about updated notions that could apply in reality since most of the things learned at formal education settings can no longer be applied

The vast majority of youth workers stated that they have no specific training on financial education (97%), while they think that “educators are not prepared because not even the national education system is ready to teach Financial Education to young people” (78%)