SURVEY ABOUT SURVEY ABOUT FINANCIAL EDUCATIONFINANCIAL EDUCATION

IN ITALYIN ITALY

ASSOCIAZIONE PROMETEO - € MONEY MATTERS € - ITALY

THE FINANCIAL CULTURE IN THE FINANCIAL CULTURE IN ITALYITALY: :

“THE LEVEL OF FINANCIAL CULTURE, IN GENERAL TERMS, IS LOW AND IT IS NOT SO WELL ADAPTED TO ANSWER TO THE

CHALLENGES THAT THE NEW SCENARIOS PLACE IN FRONT TO THE CONSUMERS”. Ambrosetti-The European House

& Consorzio PattiChiari

• MAJORITY OF THE ITALIANS PERCEIVES OBJECTIVE BARRIERS TO THE FINANCIAL INFORMATION. • MORE OF 70% JUDGED THEMSELVES NOT SO WELL PREPARED IN MATTER OF TAKING FINANCIAL DECISIONS AND PERCEIVES THE EXISTENCE OF TIES IN UNDERSTANDING INFORMATION ABOUT FINANCE.

ACCORDING TO THE STUDY “PATTI CHIARI”:ACCORDING TO THE STUDY “PATTI CHIARI”:

• BASICLY THERE IS GREAT COMPLEXITY OF THE FINANCIAL

INSTRUMENTS, INTERNET, REDUCTION OF THE RENDERING,

DEREGULATION OF THE MARKETS• THE RESPONSABILITIES OF THE FINANCIAL CHOICES ARE

GRADUALLY MOVING FROM THE INSTITUTIONS TO THE CITIZENS

• THE OFFER OF COMPLEX FINANCIAL PRODUCTS

CONFUSES MOREOVER THE THRIFTY PERSON

THE 83% OF THE ITALIANS PERCEIVE THE EXISTENCE OF NUMEROUS OBSTACLES TO THE UNDERSTANDING OF THE

FINANCIAL INFORMATION

THE CHOICE BETWEEN AN ELEVATED NUMBER OF FINANCIAL PRODUCTS, THE TECHNICAL LEVEL OF THE ECONOMIC-FINANCIAL LANGUAGE, A COMMUNICATION NOT ALWAYS CLEAR, ARE PROBLEMS FOR THE MAJORITY OF CUSTOMERS.

AND THE YOUNG PEOPLE?AND THE YOUNG PEOPLE?

“THE MONEY IS A TABOO ARGUMENT”

• 55% OF THEM DO NOT SPEAK ABOUT MONEY IN FAMILY;

• 70% OF THEM, THINK THAT THE SCHOOL WOULD HAVE TO TEACH THEM ABOUT MONEY IMPORTANCE .

SURVEY “YOUNG AND MONEY” FROM ISPO FOR THE PATTICHIARI

CONSORTIUM

DATA ABOUT THE YOUNG PEOPLE IN ITALYDATA ABOUT THE YOUNG PEOPLE IN ITALY:

- 65% BETWEEN 11 - 25 SHOWS LOW OR ZERO INTEREST IN MANAGEMENT OF THE SAVINGS;

- MORE OF 70% HAVE NO COMPETENCES IN FINANCIAL MATTER;

- 38% AGED 11 - 25 SAVE NOT REGULARLY OR 41% DO REGULARLY;

THE WIDE MAJORITY OF THE ITALIAN STUDENTS OF COMPULSORY SCHOOLS

(8 ON 10 CASES) ARE NOT SUBMITTED TO EDUCATIONAL

ACTIVITY DEDICATED TO FINANCIAL INSTITUTIONS OR AIMED TO

APPROACH STUDENTS TO THE SAVING MONEY ACTIVITIES.

THERE ARE TWO CONTRADICTORY THERE ARE TWO CONTRADICTORY FACTORS PLAYING TODAY IN ITALY: FACTORS PLAYING TODAY IN ITALY:

• A HIGH RATE OF SAVINGS • A LOW LEVEL OF FINANCIAL EDUCATION IN THE POPULATION.

EMERGED EMERGED DIFFICULTIESDIFFICULTIES

• A SUBJECTIVE DIFFICULTY TO USE MONEY - 32% OF THE BOYS EFFECTIVELY DECLARES THAT OFTEN THEY DON’T KNOW THE BEST WAY TO USE MONEY

• OBJECTIVE DIFFICULTIES IN USING AND UNDERSTANDING FINANCIAL LANGUAGE

THERE IS NOTNOT A CLEAR STRATEGY CLEAR STRATEGY ON NATIONAL NATIONAL LEVELLEVEL

DEDICATED TO THE FINANCIAL EDUCATIONFINANCIAL EDUCATIONAND

THERE IS NOTNOT A SUBJECT “INSTITUTIONALLY” SUBJECT “INSTITUTIONALLY” DEDICATED FOR COORDINATION AND GUIDE

THE INITIATIVES

ABSENCE OF LINKS WITH THE EDUCATIONAL SYSTEM IS THE MAIN CRITICAL POINT THAT THE ECONOMIC-FINANCIAL INSTITUTIONS HAVE TO

CONSIDER.

IN ITALY IN ITALY

FOR THE FOR THE PROMOTIONPROMOTION OF OF FINANCIAL FINANCIAL EDUCATION EDUCATION

PATTICHIARI IS STRONGLY ENGAGED WITH THE FAMILIES,

THE THRIFTY PEOPLE AND THE COMPANIES

FINANCIAL EDUCATION IN SCHOOLSFINANCIAL EDUCATION IN SCHOOLS

“ME AND THE ECONOMY” 2004-2008

18 REGIONS

42 CITY

200 EXPERT

858 SCHOOL

2.500 CLASSROOMS

60.000 STUDENTS

10 MORE RELEVANT INITIATIVES10 MORE RELEVANT INITIATIVES TO CARRY ON

PROJECT CONTENTSS

ER

VIC

ES

SA

VIN

GS

CR

ED

ITBEACON HOW TO USE CASH DISPENSER IN REAL TIME

CHECKING ACCOUNTS A GUIDE IN ORDER TO MAKE THE BETTER CHOICE

CHANGE ACCOUNT HOW YOU CAN CHANGE CHECKING ACCOUNT

BASIC BANKING SERVICE A SIMPLE AND ECONOMIC BANK PRODUCTS GUIDE

AVAILABILITY CHECKS THE TIMES OF THE CHECKS

OBLIGATIONS TO LOW RISK

HOW YOU CAN CHOOSE AN OBLIGATION

STRUCTURED BANKING OBLIGATIONS

HOW ESTIMATE THE RISK OF INVESTMENT

COMPARISON AMONG FINANCIAL INVESTMENTS

UNDERSTANDING AND CHOOSING FINANCIAL PRODUCTS

GENERAL CRITERIA OF EVALUATION

HOW BANKS EVALUATE A BUSINESS FINANCING

AVERAGE RESPONSE TIME TIME FOR ANSWERING AFTER A LOAN DEMAND

THE MAIN FINANCIAL INSTITUTIONS OF THE COUNTRY ARE:

• THE BANK OF ITALY -

TO ITS DUTY CONTROLS AND CHECKS BANKS ACTIVITY

IT HAS RENEWED ITS WEBSITE

www.bancaditalia.it

THE NEW SECTION “SERVICES TO THE PUBLIC“

IS ADDRESSED TO A PLURALITY OF ACTORS INVESTORS, MARKET ACTORS, SCHOLARS, EMPLOYEES TO THE MEDIA, INVESTORS.

• THE CONSOB - SUPERVISOR ON FINANCIAL AND BOURSE ACTIVITIES

THANK YOU THANK YOU FOR YOUR FOR YOUR ATTENTIONATTENTION