Source: European Parliament
The Commission recognises the importance of financial literacy as a critical life skill, including for young Europeans. The 2024 Council Conclusions on financial literacy[1] also call for the integration of financial education into national school curricula.
However, Member States have a sole responsibility for the content of teaching and the organisation of education systems. Article 165 of the Treaty on the Functioning of the European Union provides the EU only with a supportive role in education.
In light of these considerations, the Commission focuses on supporting initiatives that promote financial literacy for youth. In 2023, the Commission published the EU/OECD financial competency framework for youth[2].
Through existing EU programmes such as Erasmus+[3] and the European Social Fund+[4], the Commission also encourages projects aimed at enhancing financial literacy.
In the Savings and Investments Union Communication[5], the Commission committed to adopting a strategy on financial literacy by the 3rd quarter of 2025. This strategy will have a broad scope, aiming at enhancing various aspects of financial literacy.
The strategy will focus on communication and awareness raising, coordination of best practices, monitoring and evaluation, and increasing funding opportunities. It will facilitate the exchange of best practices among Member States also as regards initiatives linked to financial education.
The recently adopted Union of Skills[6], recognises that financial and entrepreneurial skills gaps exist in Europe and that promoting further STEM[7] approaches are important to facilitate digital and financial literacy by endowing students with the skills needed to understand how the digital and financial systems work.
- [1] https://data.consilium.europa.eu/doc/document/ST-9930-2024-INIT/en/pdf.
- [2] https://finance.ec.europa.eu/system/files/2023-09/230927-financial-competence-framework-children-youth_en.pdf.
- [3] Financial literacy projects with adults, schoolteachers and adult education teachers are funded as part of Erasmus+, for example: https://epale.ec.europa.eu/en/resource-centre/content/financial-literacy-adult-education.
- [4] The European Social Fund Plus (ESF +) also finances projects that include improving financial literacy, for example: https://european-social-fund-plus.ec.europa.eu/en/social-innovation-match/case-study/projekt-domov.
- [5] COM(2025) 124 final.
- [6] eur-lex.europa.eu/legal-content/en/TXT/PDF/?uri=CELEX%3A52025DC0090.
- [7] Science, Technology, Engineering, and Mathematics.