Skopje, 9 April 2025
“The young shall not rely on unverified sources of financial advice, the financial education through formal channels shall not be replaced by advice from social media influencers”, said the Governor of the National Bank Anita Angelovska Bezhoska at the meeting with the members of the Union of High-School Students, held within the Global Money Week, this year under the motto “Think before you follow, wise money tomorrow”. “The dynamic changes in financial system should be accompanied by adequate changes in the education system, in order to have youth that is ready to actively participate in the overall social activity”, pointed out Angelovska Bezhoska and encouraged the young to be curious, to ask questions, to explore and to constantly upgrade their knowledge, since it is the best way to shape their future through informed decisions n and wise resource management.
The surveys show that around a third (31%) of young people aged 18-21 in the UK rely on online sources, including social media influencers, for guidance and information in the area of finance, with 25% relying primarily on TikTok. .
“In a world that is changing at tremendous speed, on the eve of the fifth industrial revolution, financial knowledge is no longer a luxury, but an essential necessity. The way we manage our finances, make decisions and understand economic flows, we shape not only our personal progress, but also the stability and progress of the entire society”, said the Governor, supporting the initiative of the Union of High-School Students, that held a presentation on the importance of the financial education for the youngsters.
The latest measurement of financial literacy in our country by the INFE-OECD indicates that young people aged 18-29 have 54% of the total points for financial knowledge, which is slightly below the regional average of 56%, but there is still a gap compared to the EU countries. In 2021, the young people in the euro area aged 15 to 24 held account, as opposed to 74% of the youngsters in our country, also 90% of the young have debit or credit card, against 52% in our country. Also, 82% of the young people in the euro area have certain savings, compared to 50% of the youngsters in our country. As many as 93% of young people in the euro area have made a digital payment, compared to 64% of young people in our country. However, positive developments were registered in savings, thus the gap decreased from 40 to 32 percentage points and in digital payments from 40 to 29 percentage points compared to 2014.
“These numbers should not discourage us, but on the contrary – they should motivate us to initiate changes. This means that there is room for improvement by educating pupils from their earliest years, with joint efforts made by the financial regulators and the private financial sector, and by the educational institutions”, pointed out the Governor Angelovska Bezhoska.