Who are we:
The Partnership for Financial Education for Vulnerable Adults (FEVA) brings together the most important initiatives in adult financial education from Eastern and Western Europe. We are a group of organizations committed to improving the financial literacy and capabilities of vulnerable adults – those living on low-incomes or socially excluded or marginalized – by directly providing financial education and/or actively supporting financial education initiatives.
The FEVA aims to:
- increase access to know-how on adult learning methodology;
- disseminate delivery models for reaching large numbers of beneficiaries;
- provide a platform for exchange of experiences and good practices.
The FEVA Partnership Website was created primarily with practitioners in mind, but the information and practical resources it contains can also be valuable to policy-makers, regulators and financial sector institutions committed to reducing poverty and creating an inclusive financial sector.
The FEVA Partnership was initiated by the Microfinance Centre (MFC) for Central and Eastern Europe and the New Independent States, a leading microfinance resource centre in Eastern Europe and a champion in financial education for low-income households in transition countries. For more information, visit our website: www.mfc.org.pl/finedu
Why is financial education important?
The importance of financial literacy has significantly increased for two main reasons:
- the responsibility for, and risks associated with, financial decisions that will have a major impact on individuals' future are shifting from the State to individuals,
- financial markets are increasingly sophisticated, which means that consumers face more complex choices and a wider range of options.
Moreover, there is an increasing recognition by leading global players, such as the World Bank, the G8 and the EU, that financial education Financial education is particularly important for people with limited financial resources because it builds the capacity to control and better manage personal finances. It serves as an important tool to smooth the road out of poverty and keeps vulnerable individuals from falling back below the poverty line. Financial education thus contributes to financial inclusion and fosters a responsible consumer base.