Global Money Week

2016 Lithuania Global Money Week

Leading Organizations:
Bank of Lithuania

Participating Organizations:
The Money Museum
Vilnius University Faculty of Humanities in Kaunas
College of Social Sciences Šiauliai State College
State Social Security Fund Board (SoDra)
Ministry of Education and Science
Education Development Centre
Association of Lithuanian Banks and its members
SEB bankas
Swedbank
Šiaulių bankas
Danske Bank
DNB bankas
Central Credit Union of Lithuania
Securities exchange Nasdaq Vilnius
Central Securities Depositary of Lithuania
Nasdaq technology and business support competence centre
Joint stock limited life insurance and pension

Date of the event:
14th - 21th of March

Total number of children & youth engaged: 64 000
Total indirect reach: 50 000

This year, Lithuanian children had to compete in the creative comics’ competition “I save smart! So should you!” initiated by the Bank of Lithuania. Whilst playing and solving tests at the Money Museum of the Bank of Lithuania, children were introduced to the history of money. The Bank of Lithuania’s buildings in Kaunas were open for schoolchildren as well, and all those willing and interested were able to learn financial management tips and tricks through an electronic lesson. The Bank of Lithuania invited adults as well to take an interest in children’s financial education, organizing, therefore, a discussion entitled “Children and Money: Dispelling Myths!”. During the discussion, experts in various fields advised parents on how and at what age children should be taught about money.

Educational projects for Global Money Week were also conducted by Vilnius University Faculty of Humanities in Kaunas and College of Social Sciences and Šiauliai State College, while representatives of SoDra delivered lectures to 10–12 class schoolchildren on the topic of ‘You Can’t Survive on Love Alone’. The Securities Exchange NASDAQ Vilnius, the Central Securities Depositary of Lithuania and Nasdaq Technology and Business Support Competence Centre invited schoolchildren to “Open Door Days” on 15, 16 and 18 March. Members of the Association of Lithuanian Banks invited schoolchildren to events specifically designed for them: lessons, discussions and games were organized for various schools around the country. Specialists from UAB Aviva Lietuva and a representative of the Lithuanian Life Insurance Companies Association not only discussed life insurance with children, but also spoke about how to save for a trip or a new phone, while UAB SEB gyvybės draudimas invited children aged 6–7, together with their parents, to take part in interactive discussions. The aim of the discussions was to talk in the form of a game about the significance of financial literacy, methods of saving and, most importantly, the children’s future aspirations.

Joining Global Money Week this year for the first time, Vilnius Region Credit Union, seeking to draw children’s attention to the importance of saving, invited children to take part in the competition ‘My piggy bank’. The Kaunas Chamber of Commerce, the Industry and Crafts Financiers Club and the club Pinigų srautas shared knowledge with schoolchildren. While in meetings with bailiffs, schoolchildren learned how to avoid debt and be in control of their finances. This year, the professional volunteering project ‘Why do we need that?!’ again helped experts and schoolchildren interact, bringing together professionals and teachers from various fields who help young people find their career direction. .

2015 Lithuania Global Money Week

Participants:
Bank of Lithuania
Vilnius Stock Exchange NASDAQ OMX
Ministry of Education and Finance, Danske Bank, SEB Bank, Swedbank, DNB bank, Aviva Lietuva, UAB Bonum Publicum, Vilnius University Faculty of Humanities in Kaunas, State Social Insurance Fund (SoDra), Lithuanian Central Credit Union, Kaunas Chamber of Commerce, Industry and Crafts Financiers Club, Finance and Credit Management Association, Transparency International Lithuanian branch, The association Chamber of Enforcement Agents of Lithuania, Volunteer project “Why do We Need That?!”
Date of event:
9th - 17th of March
Number of children reached:
200

Between 9–17 March, Global Money Week was celebrated in Lithuania within the framework of Lithuania’s Children’s Financial Education Week. Various events took place all week: lessons, quizzes, excursions, educational games. Children competed in “The Story of My Pocketmoney”, a contest announced by the Bank of Lithuania, where they shared their experiences of what one can do when they skillfully save pocket-money. At the Money Museum of the Bank of Lithuania, children were introduced to the history of money by completing educational games and tests. Bank of Lithuania staff helped children to learn to differentiate real euro from fake ones by introducing an educational program for children “Get Acquainted with the Euro”, during which they presented the euro security features.

Vilnius Stock Exchange NASDAQ OMX opened its doors to children on 9, 10, 12 and 13 March. Schoolchildren were able to follow real time trading in stocks, while specialists from the stock exchange spoke about what a stock exchange and depository are, explaining the specifics of trading in securities. Specialists from of the Association of Lithuanian Banks, representing SEB bank, Swedbank and DNB bank, conducted lessons in schools across the country, organized games and led discussions. Bank representatives offered advice on how to manage personal finances and prepare for independent living. Danske Bank, for the sixth year in a row, invited people to the project “Learn about the Bank”. This included interactive lectures and quiz battles for schoolchildren.

Specialist representatives of the Association of Life Assurance Companies, Aviva Lietuva and Bonum Publicum, spoke with children about life assurance as well as how to save for a trip or a new phone. Educational projects for the Children’s Financial Education Week were conducted by the Vilnius University Faculty of Humanities in Kaunas, as well as at Šiauliai State College. Representatives from SoDra presented lectures to students in 10–12 grades on the topic of “You Can’t Survive on Love Alone”.

Lithuanian Central Credit Union invited schoolchildren to participate in quiz battles: “Don’t Hide Your Knowledge, Come to the Quiz Battle”. The Kaunas Chamber of Commerce, Industry and Crafts Financiers Club shared their knowledge with schoolchildren, while representatives from the Finance and Credit Management Association spoke with children about what is a good loan and a bad loan. In meetings with bailiffs, schoolchildren learned how to not get lost in debt and to be the masters of their situation. Schoolchildren discussed with the Lithuanian branch of Transparency International what school finances are, how they are allotted and how to transparently manage them.

A professional volunteering project, “Why do We Need That?!” helped schoolchildren and experts interact. The activity brought together professionals and teachers from various fields to help young people find their career direction.

 

2014 Lithuania Global Money Week

Bank of Lithuania
Vilnius Stock Exchange NASDAQ OMX
Money Museum
SEB bank
Swedbank
Danske Bank
Credit bureau Creditinfo
Life assurance undertaking BONUM PUBLICUM
Vilnius University’s Faculty of Humanities in Kaunas
College of Social Sciences
State Social Insurance Fund SoDra
Aviva Lithuania
Date of event:
10th - 17th of March
Number of children reached:
8 000

The Board of the Bank of Lithuania’s meeting hall hosted an awards ceremony for the winners of the Bank of Lithuania’s “Children’s Financial Week’s Symbol” contest which ran in the weeks prior to Global Money Week. Following this, the children visited the Vilnius Stock Exchange NASDAQ OMX. Staff members explained to youth about what the exchange, the depository and security trading are. They conducted a Q&A for the youth following the presentation and awarded the students for correct answers. The students also got to experience trading first hand as they watched the real-life trading in shares displayed on the big screen. To end the day off on a high note the students were invited to ring the bell during the closing of trade ceremony.

The following educational programs took place in the Money Museum in Vilnius: “Learn to Recognize and Count Euros” which consisted of an excursion, a lesson and games for children, aged 5–9; and “Learn to Recognize the Euro” for older children which consisted of an excursion and a lesson. Excursions and lessons, during which children will be introduced to the euro, will be held at the Bank of Lithuania in Kaunas as well. The Bank of Lithuania are offering these “intro to the euro” lessons to schools around the country.

A seminar on “Investments for Future Leaders” was held for members of the club “Cash Flow”. During the seminar schoolchildren received useful information on the financial system, investment product characteristics and main investment principles. They also participated in a quiz and where the winners received fun and practical prizes.

SEB Bank invited older schoolchildren to attend financial literacy lessons in different cities across the country. SEB Bank employees visited schools during global Money Week hosting discussion sessions with high school students on how to rationally deal with money, and what services and products financial the different institutions provide. They also introduced the basics of financial management. For Children’s Financial Week SEB bank created a special financial literacy test which was available on SEB bank’s Facebook page. It was a 3-tier financial literacy test, created for schoolchildren of various ages.

Swedbank’s Institute for Private Finances and volunteers in different cities across Lithuania (Vilnius, Kaunas, Panevežys, Šakiai, Vilkaviškis, Palanga) will conduct lectures on personal finances, their management, budget planning, preparing for independent life. They also organized discussions for schoolchildren on managing personal finances, and how to prepare for starting their own life. Excursions were also held at Swedbank’s administrative building in Vilnius.

Danske Bank organized their 5th annual educational event called “Learn About the Bank”. The project is aimed at all schoolchildren, and is split into 2 events which the students can attend, depending on their school year (i.e. Grades 1–8 were and 9–12). The “Learn About the Bank” program consists of an interactive lecture on the bank’s founding, its activities and functions (Grades 1–8), a lecture called “5 Financial Literacy Lessons” (for the grades 9-12) and a “Battle of the Brains”. The preliminary length of one event was 2 hours.

Representatives of Creditinfo taught students what their ‘credit history’ is, why it is so important and how irresponsible financial decsions will make it more difficult to get a student loan, or open an internet, mobile phone or credit card account. Life insurance undertakers from Bonum Publicum went to schools to lecture on "The Essence and Benefits of Life Insurance." The lesson was aimed towards students 14 years old and up.

The Bank of Lithuania presented 3 financial lessons at Vilnius University’s Faculty of Humanities in Kaunas. The lessons were based on how to manage personal finances, savings and responsible lending. The lessons were illustrated by an animated film.

The College of Social Sciences invited Grade 9-12 students to take part in a financial literacy project. The class whose project won was crowned the “EURO class” of 2014. The State Social Insurance Fund (SoDra) prepared lessons for Grade 10–12 students on the topic of “You Can’t Survive on Love Alone”. During the lesson, specialists from SoDra spoke about how the state social insurance system operates, why it is useful to be a member, what the effects of illegal wages are and what love has to do with all of this. The lecturers were SoDra staff members.

Aviva Lietuva joined the Bank of Lithuania’s initiative and on 12th and 13th March they invited high school students to attend a lecture given by Aviva Lietuva’s financial consultants. They answered relevant questions such as how to manage personal finances and why life insurance is necessary. Students were welcomed to visit their branches in Vilnius, Klaipėda, Šiauliai and Panevežys.

 

2013 Lithuania Global Money Week

Name of organizing entity - Central Bank of the Republic of Lithuania
Partners - Ministry of Education and Science of the Republic of Lithuania; Danske Bank A/S Lithuania Branch; SEB bank; Swedbank; Life assurance company Bonum Publicum; AB NASDAQ QMX Vilnius; Lithuanian Youth Council
Date of the event - 15th of March
Number of children reached - 3 000

Lithuania started the celebrations of Global Money Week on the 15th of March with numerous events for students - tours, lectures, games, tests and brain battles. The project includes the participation of pupils in an interactive presentation about the history of banks, their operations and functions. A special quiz took place which gave the opportunity to children and youth not only to learn new things but also challenge their present financial knowledge.

The celebration of Global Money Week Lithuania continued with school visits to banks, Money museum and other financial institutions. Schools were also visited by bankers or financial experts where special lectures on financial education took place.

In order to raise the awareness for the importance of economic citizenship events were organized at local landmarks on the topic of financial inclusion. Radio, TV programs and distribution of educational souvenirs and materials were held in order to increase the awareness on the topic.