The “strategy” of financial education of young people in the process of acceleration

What is a bank overdraft? How much does a loan cost? How much can be taken in a savings account with 100 euros paid at 1% for a year? … Questions which several thousand students aged 13 will be asked to ponder in the coming days , in class, with one of their teachers, as part of the “Educfi passport”, an educational course of a few hours aimed at providing them with the basics of personal finance.

According to the Banque de France, 2,156 classes in 4and, of the thirty academies of national education must experiment before the end of the school year this Educfi passport, which is presented in the form of a quiz. That’s almost 50,000 students.

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And most will do so as part of the tenth edition of Financial Education Week, which begins March 21-27. During the 2020-2021 school year, this passport was tested in 74 classes in five academies (Nancy-Metz, Dijon, Créteil, Rennes, Limoges), on nearly 2,200 students.

“Escape game” on SNU

The initiative was spearheaded by the Banque de France, operator of the national financial education strategy launched by Bercy in 2016, in encouragement of the Organization for Economic Co-operation and Development (OECD), which replaced the topic in the early 2000s and urges its member countries to develop a financial culture of the general public.

In detail, this French financial education strategy has many pillars, one of which is specifically targeted at young people.

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“Educfi’s passport focuses on the budget, the balance between resources and spending, the bank account, savings and savings to finance projects, or even insurance. We try to awaken the first ones. reflexes.We do this in [classe de] fourth because it is an age where young people are already sensitive to these topics but there is no pressure to certificate »explained Stéphanie Lange-Gaumand, director of financial education at Banque de France.

Despite the ramp -up in the system observed for the current school year, it, tested for the first time in 2019, still worries only a small proportion of fourth -grade students – about 7%, according to Banque de France. . Will it generalize in future years to all students at this level? It is considered but nothing is done: “It is up to the ministers to decide within the framework of the strategy operations committee [l’instance de pilotage, où siègent, notamment, les ministres de l’économie, de l’éducation nationale et des solidarités]»reply by Ms. Lange-Gaumand.

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However, young people now have many opportunities to be contacted with questions about money within the framework of the national strategy for financial education, he determined: in the fourth grade first, if the Educfi passport is disseminated in their class, then between the ages of 15 and 17 if they join the Universal National Service (SNU), and finally through the interventions of local missions (organizations that support young people in their social and professional association). “We believe these three meetings will ultimately help avoid financial disasters”added Ms. Lange-Gaumand.

At SNU, the financial start-up takes the form of an escape game, explained by the Banque de France. If, by 2021, an estimated 14,000 young people are educated in this context, at two hundred sites, nearly 50,000 will be needed in total by 2022, according to the institution: 2,700 during the stay in February and 46,000 at UNS sessions scheduled for June and July.

Scam Avoidance

From March 21 to 27, the tenth edition of Global Money Week will take place, the “world money week” – an initiative of the Organization for Economic Co -operation and Development (OECD) famous in France since 2019, more moderately, Financial Education Week. . In this context, the Banque de France has launched MOOC, an online course on money and payment methods. It will be accessible for free from March 21 to May 14 (registration is possible until May 12 here). “Targeting an audience at the end of high school, students and adults, this MOOC answers the specific question of payment fraud and how to avoid it, how to react if you are a victim, and more. . »explained Stéphanie Lange-Gaumand, of the Banque de France.

Prevention of bank scams could also be the topic of a forum organized on Wednesday March 23 in Evry-Couronnes (Essonne) by the association Prévention Océane and broadcast live on the Instagram account @stop_arnaque. This association bears the first name of a 17-year-old girl who committed suicide after being the victim of a stolen check scam. “We always ignore it, but young people are very targeted, especially on social networks, by check fraud”promoted Ms. Lange-Gaumand.

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