Liechtenstein

Published on 23-03-2017 by admin

Kinder Cash, Finanzkompetenzen, Banking 4 You, …

Vaduz castle - is the residence of the Prince of Liechtenstein

European Money Week events in Liechtenstein

 

Date Target Group / School Level Initiative Description
29.03.2017 Lower secondary
(14 – 18)
Financial skills
At four stations, experts of the Liechtenstein Bankers Association, its member banks, the Hand in Hand Establishment counselling service, and Caritas Liechtenstein convey plenty of useful knowledge about: budgeting, debt traps, account types, payment transactions, and financing options.
29.03.2017 Kindergarten / Primary
(5 – 8)
“Money for sale!” “Money for sale!” Story for children and their parents. The narrative deals with the themes of money, consumption and values ​​and brings them closer to the children playfully.
31.03.2017 Lower secondary
(14 – 18)
Financial skills At four stations, experts of the Liechtenstein Bankers Association, its member banks, the Hand in Hand Establishment counselling service, and Caritas Liechtenstein convey plenty of useful knowledge about: budgeting, debt traps, account types, payment transactions, and financing options.

Key actors in financial education and financial literacy

Government

There is no national strategy on financial literacy in Liechtenstein. Initial discussions took place in 2013 with the aim of systematically teaching pupils about budgeting, types of accounts and methods of payment as well as forms of credit, in a way befitting their age. They should also be familiar with the macroeconomic functions of a bank.
 

Liechtenstein Bankers Association & members

In 2010, the Liechtenstein Bankers Association (LBA) decided within the framework of its 2015 financial centre strategy to support the teaching of financial skills in the population. Initial projects were implemented as early as 2011: In the primary school segment, the LBA offers schools the teaching materials ‘Kinder-Cash’ (kids’ cash), developed by Pro Juventute for pupils, as well as tools that serve to actively involve parents in the topic.
For 12-16-year-old pupils, different modules have been developed in collaboration with the Department of Social Services on a variety of topics in the area of basic financial literacy and under the title ‘Finanzkompetenz’ (financial skills). These have been conducted on several occasions with the help of bank employees and Caritas Liechtenstein. The ‘Banking 4 you’ initiative, which includes training content on banking issues, vocational training and job applications and has also be around since 2011, was developed specifically for 14-18-year-olds and from the beginning has been successfully implemented by bank employees at various schools each year.
In addition, a project specifically tailored to adults and entitled ‘Rund-ums-Geld’ (Money Matters) was announced for the first time in 2014 and the following modules conducted in cooperation with CYP smart education: What does a bank do? / Save or invest money? / Financial products – opportunities and risks.
Some LBA members also offer courses on topics including home financing and retirement planning.


Other actors

1) The Swiss National bank’s “Iconomix”: A web-based economics curriculum with teaching materials for download or purchase. It is aimed at secondary school teachers (secondary school and vocational colleges)
2) Pro Juventute: Pro Juventute is Switzerland’s leading financial education charity for children up to the age of 12
3) The webpage money-info.ch: A guide for Internet services for all-round financial education, to promote the responsible use of money and the avoidance of debt.
4) Budgetberatung.ch: The non-profit umbrella organisation of the Budget Advisory Centre with an archive of free leaflets.
 

Example of good practice

1) Kinder-Cash (Kids Cash): The Liechtenstein Bankers Association has been funding the teaching materials “Kinder-Cash” (Pro Juventute) for primary schools in Liechtenstein since 2012.

2) Finanzkompetenzen (Financial skills): An offer for 14-18-year-old pupils, developed in cooperation with the debt counselling service (Office of Social Affairs Liechtenstein) and conducted with bank employees, representatives of the debt counselling service (Office of Social Services and Caritas Liechtenstein) and those affected (since 2011).

3) Banking 4 you: Interactive and age-appropriate lessons for 14-18-year-olds on the subject of banks and financial centres as well as training in a bank, developed in collaboration with its member banks (since 2011).

4) Rund-ums-Geld (Money matters): A free modular offer for teaching basic financial literacy to adults, conducted by CYP, a centre of excellence for basic professional education (since 2014).

Financial education part of curriculum? No
PISA financial literacy ranking (OECD, 2012): Did not take part