A financial rule-of-thumb is that saving is a good thing to do. But is it wise to save now when the interest rate can be as low as 0.3% and the list of bank fees can be long as 8 pages?
Who is Fly For?
The economic crisis that has been hitting the world in the recent years revealed serious gaps in financial literacy and financial management skills of populations across countries, nations, genders and age groups. Countries as well as individuals executing poor or wrong financial management steps contribute to global economic instability and mal-performance. Although not all EU countries have been affected by the consequences of the crisis to the same extent, the need for higher financial literacy of the EU population has been expressed by the European Commission in 2008 when the Expert Group on Financial Education was set up. The rising indebtedness on both individual and national level within the EU is only a one of the facts proving the need for more joint effort concerning improvement of financial literacy of the EU citizens.