European Money Week 2018

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Testing the financial literacy of thousands of European students aged between 13 and 15, and thus helping to foster financial education among the young. This was the aim of the Quiz game which, for the first time, put thousands of students in direct competition at European level and put to the test their ability to manage their personal finances. The initiative was included in the European Money Week celebrations and involved more than 7,000 classes from 30 European countries.

In Portugal, the national final of the European Money Quiz, held on 20 March, was promoted by the Portuguese Banking Association and involved students from the Padre António Vieira School grouping, in Lisbon.

Mariana Policarpo and Leonor Madeira, both 9th graders, were the big winners of this financial literacy competition. On 8 May they will go to Brussels to represent Portugal in the European final. Mariana, who got 19 out of 20 questions right, has no doubts that "more difficult than learning how to earn money, is knowing how to spend it well". For Leonor, who got the second-best score, "financial literacy is important to help us manage our money better when we start working". With their passport stamped to go to Brussels, the winners of the Portuguese European Money Quiz now qualify for the final prize - a cheque for 3,000 euros for the school of the winner, at European level.

Manuela Athayde Marques, General Secretary of the APB, recalled the work that has been done by the association to develop financial education among young people. "It is very important that you learn how to manage your money for when you earn a salary, want to buy a house or even for when you have to save for retirement", was her advice to the dozens of students gathering in the auditorium. Representatives from the Bank of Portugal and the CMVM (the Portuguese Securities Market Commission) were also present at the session. Lúcia Leitão, Manager of Bank of Portugal's Behavioural Supervision Department and Chair of the Coordination Commission of the National Financial Training Plan, alerted the students to the importance of knowing how to manage money, which is becoming increasingly virtual. "Nowadays, financial products are as many as the chocolates you are used to buying. You have to know how to distinguish between them.”

See here how was the National Final of the European Money Quiz see»