The students from our country show growing interest in financial education and the importance of proper management with personal finances savings. This is a result of the continuous investments in the field of financial literacy, and is confirmed by the results of this year’s competition on the occasion of World Savings Day which is traditionally announced by the National Bank and the Ministry of Finance. This year, the specific circumstances imposed by the COVID-19 pandemic were not an obstacle for a great number of students from the country, to send their messages on the importance of saving in a creative way. Over four hundred students from the country submitted their literary and artistic works expressing their thoughts and creativity on savings.

The results of the competition have already been announced on the National Bank’s website. 12 primary school students and three high school students have been awarded. At the same time eight primary school students and one high school student have won commendation. The results are available here.

A total of 373 works by primary school students arrived at the competition, of which 100 poems, 91 short stories and 182 drawings. The aspiration of the students to represent the importance of saving and creating a habit of saving in an imaginative way is recognized in the literary works. According to the assessment of the commission, especially among the received stories, several works stood out, emphasizing the talent, diligence, unique style and financial education of young authors, certainly appropriate to their age. Creativity and individuality in the design solutions are a feature of the received works of art.   

The increased number of received essays is especially noticeable. Specifically, the competition received 60 essays within the deadline, written by students from several high schools in several municipalities- more than in the previous two years, when about 40 essays arrived. This shows that after three years of implementation, this competition is already recognizable among high school students and attracts their attention. Having read and assessed the essays, the commission expressed satisfaction in both the quantity and the quality of the received texts. Most of the received essays according to the commission are of solid quality according to the seriousness of the views conveyed and the style of expression which demonstrate a noticeable level of financial literacy. The essays of the high school students confirm that there are developed habits of saving among some young people in the country, but still, some of the papers openly point to the need for greater information about savings and financial institutions, which is a direct confirmation of the need for further activities in the field of financial education of young people.  We are especially glad that some of the essays explicitly state that the competition encouraged the students to read more educational materials in the field of financial education, so the competition achieves its goal.

The National Bank and the Ministry of Finance, in cooperation with other financial regulators, plan to implement other activities in the field of financial education for the forthcoming period, appropriately adjusted to the conditions of the “new normal” during the health crisis. Some of the activities will certainly be dedicated to young people.

Crucially, after a series of successful activities implemented in recent years, the preparation of the first National Strategy for Financial Education and Financial Inclusion is in its final stage, which is expected to further strengthen the coordinated activities to encourage and promote financial literacy.