COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE OF THE REGIONS on a Financial Literacy Strategy for the EU
Date: 2025-09-30
Institutions: Directorate-General for Financial Stability, Financial Services and Capital Markets Union, European Commission
Subjects: EU strategy, financial literacy, financial market, financial planning, household, indebtedness, natural person, private investment, public awareness campaign

EN 

  EN 

   EUROPEAN COMMISSION  Brussels, 30.9.2025  COM(2025) 681 final  COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE OF THE REGIONS on a Financial Literacy Strategy for the EU  
 
 
1.  An EU financial literacy strategy 

Financial literacy is an essential life skill. It refers to the combination of financial awareness, 
knowledge,  skills,  attitudes,  and  behaviours  necessary  to  make  sound  financial  decisions. 
Financial  literacy  empowers  individuals  to  engage  in  healthy  financial  practices  such  as 
effective  budgeting,  informed  savings  and  investment  choices,  proper  long-term  financial 
planning including retirement planning and responsible debt management, thereby contributing 
to financial independence, risk management and avoidance of fraud and scams. By fostering 
sound  financial  habits,  individuals  and  households  can  improve  their  financial  resilience, 
leading to greater economic stability and reduced risk of over-indebtedness. Financial literacy 
is therefore essential to empower citizens to secure their financial independence and well-
being. Moreover, its benefits go beyond the individual: by promoting financial inclusion and 
civic engagement, financial literacy helps build a more resilient society.  

Levels of financial literacy in the EU are currently very low (see chart below). According 
to the 2023 Eurobarometer survey, less than one fifth (18%) of EU citizens have a high level 
of financial literacy (1). Financial literacy levels also differ significantly across Member States 
and among different demographic cohorts within Member States. Women, younger and older 
people, people with lower income and with lower level of general education in particular tend 
to be, on average, less financially literate than other groups.  

Eurobarometer: Financial literacy score by Member State 

Source: Eurobarometer on Monitoring the level of financial literacy in the EU, 2023 

In the EU, almost half (49%) of the population between 18 and 65 years of age do not have 
enough emergency savings to  cover their living  expenses for at  least  three  months, without 
borrowing any money or moving house. Furthermore, 16% do not have any emergency savings 
at all. Combined with low levels of financial literacy this makes them especially vulnerable to 
financial shocks or the consequences of poor financial decision-making. The need to improve 
financial  literacy  is  even  more  important  in  today’s  increasingly  digitalised  world,  where  a 
wider  range  financial  products  and  services  is  more  accessible  than  ever  before.  Financial 

1European Commission (2023). Monitoring the level of financial literacy in the EU (Flash Eurobarometer 525: 
Survey No. 2953). [online] Available at: https://europa.eu/eurobarometer/surveys/detail/2953 

1 

 
 
 
 
 
 
 
literacy must reflect the evolving ways in which financial services are provided, in order to 
empower  people  to  use  them  safely  and  with  confidence,  taking  advantage  of  the  new 
opportunities this  offers, including through Savings and Investments Accounts and with  the 
prospect of the digital euro, while being mindful of the risks, including those linked to frauds 
or scams, or complex, high-risk and speculative products. 

Financial literacy also affects financial decision-making. For instance, it is likely that varying 
levels of financial literacy are an important  factor explaining a relatively low level of retail 
participation in capital markets across the EU as well as significant divergence in participation 
rates among Member States (see chart below). 

Percent of the population with an investment product (fund, stock or bonds) by Member 
State 

Source: Eurobarometer on Monitoring the level of financial literacy in the EU, 2023 

2.  An EU financial literacy strategy 

2.1. Objectives 

Against this background, the Commission has announced a comprehensive financial literacy 
strategy  in  its  Savings  and  Investments  Union  (SIU)  Communication  (2)  with  the  overall 
objective of addressing low levels of financial literacy, in order to empower citizens to make 
informed  decisions  regarding  their  personal  finances,  and  to  facilitate  their  participation  in 
capital markets on a safe and sound basis. This strategy aims to support important financial 
inclusion  objectives  including  raising  awareness  to  promote  access  and  effective  use  of 
financial  services,  strengthening  economic  resilience,  and  advancing  policies  that  target 

2  Directorate-General  for  Financial  Stability,  Financial  Services  and  Capital  Markets  Union  (2025). 
Savings  and  investments  union:  Strategy  to  enhance  financial  opportunities  for  EU  citizens  and 
businesses.  [online]  Available  at:  https://finance.ec.europa.eu/publications/savings-and-investments-
union-strategy-enhance-financial-opportunities-eu-citizens-and-businesses_en  

2 

 
 
 
 
 
 
 
 
 
vulnerable groups. It also seeks to deepen investment literacy and understanding of financial 
products, including real risk-return trade-offs.  

Any strategy relating to financial literacy cannot adopt a one-size fits all approach. Initiatives 
need  to  address  the  specific  circumstances  and  needs  of  different  target  groups  and 
communities. For instance, while some people do not have savings to invest but could benefit 
from guidance on dealing with utility bills, credit cards, insurance and accessing social or other 
benefits, others have savings and could benefit from better access to information on how to 
better manage those savings.  By specifically targeting diverse demographics with dedicated 
and inclusive financial literacy initiatives including trustworthy debt advice and by adapting 
the mediums and channels to their needs, such initiatives could contribute to reducing financial 
inequality, while helping individuals to maximise the benefits of their savings. 

Overall, this will enable individuals to manage their budgets and savings efficiently, navigate 
challenges and opportunities stemming from ongoing digitalisation, and build up their wealth 
over time, including by investing in capital markets. Such investments have the potential to 
offer higher returns, while at the same time providing EU companies with additional funding 
options  and  thus  contributing  to  economic  growth.  While  individuals  should  decide  for 
themselves whether to participate in capital markets, it is essential that those who choose to 
invest are equipped to make sound, informed decisions and are treated fairly. By fostering such 
an  environment,  new  investors  can  confidently  navigate  financial  decisions,  and  existing 
investors can remain engaged. With improved financial literacy, citizens will also gain deeper 
awareness of the impact of their investment decisions. This includes a greater understanding of 
the  economic  effects  of  choosing  to  finance  certain  activities,  as  well  as  their  impacts  and 
implications for employment, sustainability, social outcomes and resilience. 

2.2. Building on ongoing initiatives 

The strategy builds upon the Commission’s ongoing efforts to improve financial literacy, 
ensuring  continuity  and  leveraging  past  initiatives.  It  complements  actions  taken  to  raise 
awareness  and  improve  financial  competences  of  youth,  children  and  adults  via  the  joint 
European  Commission/Organisation  for  Economic  Cooperation  and  Development  - 
International  Network  on  Financial  Education  (OECD-INFE)  financial  competence 
frameworks  (3)  (4),  those  of  entrepreneurs  via  the  European  entrepreneurship  competence 
framework  (EntreComp  (5))  and  the  work  developed  with  the  Member  States  under  the 
Technical Support Instrument (TSI) (6). It takes into consideration the Digital Decade Policy 

for 

and 

youth. 

[online] 

children 

Available 

framework 

https://finance.ec.europa.eu/system/files/2022-01/220111-financial-competence-framework-

3  Directorate-General  for  Financial  Stability,  Financial  Services  and  Capital  Markets  Union  (2023).  Financial 
competence 
at: 
https://finance.ec.europa.eu/system/files/2023-09/230927-financial-competence-framework-children-
youth_en.pdf 
adults_en.pdf 
4  Directorate-General  for  Financial  Stability,  Financial  Services  and  Capital  Markets  Union  (2022).  Financial 
competence  framework 
for  adults.  [online]  Available  at:  https://finance.ec.europa.eu/system/files/2022-
01/220111-financial-competence-framework-adults_en.pdf 
5 Joint Research Centre, in partnership with DG Employment, Social Affairs and Inclusion (2016). EntreComp: 
The 
https://joint-research-
centre.ec.europa.eu/entrecomp-entrepreneurship-competence-framework_en 
6  See,  for  example,  Directorate-General  for  Structural  Reform  Support  (2023).  TSI  2024  Flagship  ‒  Digital 
Financial Literacy. [online] Available at: https://reform-support.ec.europa.eu/tsi-2024-flagship-digital-financial-
literacy_en 

Entrepreneurship  Competence 

[online]  Available 

Framework. 

at: 

3 

 
 
 
 
 
Programme  that  provides  a  relevant  framework  for  advancing  digital  skills.  It  also 
complements  the  2025  Union  of  Skills  Communication  (7),  the  upcoming  Anti-Poverty 
Strategy, and other efforts (8).  

The strategy also responds to calls for action from the Council to the Commission in its 2024 
conclusions  on  financial  literacy  (9)  to  facilitate  the  exchange  of  best  practices  by  Member 
States, to continue monitoring financial literacy levels in the EU and promote the uptake of the 
financial  competence  frameworks. Additionally,  the  Council  called  on  the  Commission  to 
support  non-legislative  actions  such  as  funding  financial  literacy  projects  via  the  TSI  and 
Erasmus+,  facilitate  training  and  research  opportunities,  and  strengthen  cooperation  on 
financial literacy. 

The  strategy  supports  efforts  taken  by  the  European  Supervisory  Authorities  (ESAs),  the 
European Central Bank (ECB), and other international organisations, in particular the OECD 
(10), to raise financial awareness and improve financial literacy levels. It is also noted that the 
European  Economic  and  Social  Committee  has  already  adopted  its  own  report  (11).  The 
European Parliament has also recently adopted reports on the Savings and Investments Union, 
including financial literacy (12) and the Commission encourages the European Parliament and 
its Members to pro-actively promote financial literacy in the EU.  

The  new  strategy  aligns  with  the  EU  regulatory  framework  for  financial  services.  It  is 
complementary  to  investor  protection  rules  in  fostering  trust  and  confidence  among  retail 
investors. In light of this, the 2023 Commission proposal for a Retail Investment Strategy (RIS) 
also  includes  a  requirement  for  Member  States  to  promote  financial  literacy  among  retail 
investors.  That  proposal  is  in  the  legislative  process  and  is  now  being  negotiated  by  the 
European Parliament and the Council. Financial literacy is also important to support the success 
of Savings and Investment Accounts, which is the subject of a Commission Recommendation 
adopted on the same day as this Communication.  

7 European Commission (2025). Proposal for a Regulation of the European Parliament and of the Council on 
digital  financial  literacy  (COM(2025)  90  final).  [online]  Available  at:  https://eur-lex.europa.eu/legal-
content/EN/TXT/PDF/?uri=CELEX%3A52025DC0090 
8 The strategy also builds on the Commission’s ongoing efforts to strengthen statistical and data literacy, helping 
citizens  grasp  the  key  elements  needed  to  make  sound  financial  decisions.  See:  Eurostat  (2024).  Improving 
statistical literacy. [online] Available at: https://cros.ec.europa.eu/book-page/improving-statistical-literacy 
9 Council of the European Union (2024). Draft Council Conclusions on Digital Financial Literacy (ST-9930/2024 
INIT). [online] Available at: https://data.consilium.europa.eu/doc/document/ST-9930-2024-INIT/en/pdf  
10 The OECD provides guiding principles through the OECD/INFE Recommendation on Financial Literacy, which 
supports  governments  and  stakeholders  in  designing,  implementing,  and  evaluating  effective  strategies  and 
education programmes. As part of its work, the OECD also conducts regular assessments to measure financial 
literacy. The 2023 International Survey of Adult Financial Literacy, covering 39 economies, revealed a clear link 
between higher levels of financial literacy and greater financial resilience and well‑being. Additionally, the 2022 
PISA financial literacy assessment evaluated the skills of 15-year-olds, highlighting significant gaps in students’ 
ability to apply financial knowledge to real-life situations. 
11 European Economic and Social Committee (EESC) (2025).  Financial literacy and education for Europeans 
(Opinion  ECO/677-EESC-2025).  [online]  Available  at:  https://www.eesc.europa.eu/en/our-work/opinions-
information-reports/opinions/financial-literacy-and-education-europeans-0 
12  European  Parliament,  Resolution  of  10  September  2025  on  investments  and  reforms  for  European 
competitiveness  and  the  creation  of  a  Capital  Markets  Union  (facilitating  the  financing  of  investments  and 
reforms) 
at: 
10 
https://www.europarl.europa.eu/doceo/document/TA-10-2025-0185_EN.html  

(TA-10-2025-0185) 

September 

Available 

[online], 

2025. 

4 

 
 
 
 
 
 
Engagement  with  stakeholders  remains  a  priority. The  strategy  builds  on the  success  of  the 
2024  high-level  conference  on  ‘Financial  Literacy,  Resilience  and  Inclusion’  and  the 
accompanying  academic  conference  (13).  It  also  incorporates  feedback  from  the  Call  for 
Evidence  published  in  the  context  of  the  Communication  on  the  Savings  and  Investments 
Union, which included considerations on the need to improve the levels of financial literacy in 
the EU. In addition, it reflects extensive consultations with all Member States through the EU 
Government Expert Group on Retail Financial Services (GEGRFS). 

The  strategy  seeks  to  complement  and  strengthen  national  financial  literacy  strategies  and 
initiatives undertaken by public and private stakeholders in Member States, such as consumer 
and  retail  investor  associations,  social  partners,  civil  society  organisations,  industry 
associations  and  other  market  participants.  In  particular,  consumer  and  retail  investor 
associations  can serve as trusted, independent  advocates  that ensure  that educational  efforts 
remain accessible, unbiased, and aligned with consumers’ interests.  

In addition, industry associations can provide in-depth expertise, practical insights and scalable 
outreach. If properly framed, this can help citizens to have relevant and up-to-date knowledge 
of  financial  products  and  services.  Trade  unions  are  also  uniquely  positioned  to  promote 
financial literacy because of their direct access to a broad base of working adults. Through their 
network, unions can increase the outreach of financial literacy initiatives and deliver practical 
financial  education  in  the  workplace,  for  example,  related  to  retirement  preparedness  and 
planning.  

3.  A comprehensive approach  

In line with its supporting and coordinating role in the area of financial literacy, and recognising 
the  numerous  existing  national  and  private  initiatives  already  in  place  across  the  EU,  the 
Commission  aims  to  complement  ongoing  efforts.  The  strategy  therefore  focuses  on  areas 
where EU action can deliver the greatest added value. 

In this context, the EU financial literacy strategy adopts a comprehensive approach and is based 
on four interrelated pillars of action: (i) coordination and best practices; (ii) communication 
and awareness raising; (iii) funding for financial literacy initiatives including for research; and 
(iv) monitoring progress and assessing impacts.  

Together,  actions  in  these  areas  aim  to  promote  informed  financial  decision-making  and 
facilitate  the  development  and  exchange  of  effective  ways  to  monitor,  analyse  and  assess 
financial literacy (14).  

20 

and 

inclusion 

(Conference, 

13 European Commission; Belgian Financial Services and Markets Authority (FSMA) (2024). Financial literacy, 
resilience 
at: 
https://finance.ec.europa.eu/events/financial-literacy-resilience-and-inclusion-2024-02-20_en 
14 It is important to note that financial literacy is different than financial education. While financial literacy focuses 
on the outcomes—what individuals know, understand, and do regarding their finances—financial education refers 
to  the  process  through  which  individuals  acquire  the  knowledge  they  require  to  become  financially  literate. 
Financial education is learning about budgeting while financial literacy is about applying those principals to one’s 
own personal finance. Early and ongoing exposure to financial education results in measurable improvements in 
financial  behaviour  and  knowledge.  Member  States  where  financial  education  is  embedded  in  the  national 

[online]  Available 

February 

2024). 

5 

 
 
 
 
 
 
 
a.  Coordination and best practices  

All Member States either have a financial literacy strategy in place or are in the process of 
developing one. In addition, various financial literacy initiatives are undertaken by different 
stakeholders in  Member  States.  Mutual  learning and exchange of best  practices  can  help  to 
identify and broaden the roll-out of effective initiatives and to gain insights into key success 
factors. 

The Commission will work with the relevant stakeholders to define key thematic priorities 
and  to  identify  best  practices  within  those  areas.  Potential  areas  for  action  would  include 
initiatives  to  foster  the  “teaching  of  teachers  and  trainers”  or  financial  inclusion  and  other 
initiatives aimed at specific target groups, including those with low income, women, children, 
youth or older people, notably by identifying relevant “teachable moments” (15) for these target 
groups.  

In this context, the Commission will support the collection and exchange of best practices 
with a view to ensuring that they are discussed with Member States and that the potential for 
effective implementation across the EU is fully explored while taking into account national 
specificities. The exchanges with Member States will serve to facilitate mutual learning and 
foster convergence of approaches where appropriate.  

These exchanges will also serve as a platform to identify priority areas and the best way forward 
for the communication and awareness-raising campaigns and funding opportunities.  

By  fostering  these  exchanges,  the  Commission  aims  to  identify  common  challenges  and 
collaboratively  develop  solutions,  thereby  strengthening  collective  commitments.  Where 
relevant,  the Commission  will also  coordinate with  experts from  international organisations 
and third countries to enrich this process. 

Regular  high-level  discussions  at  ministerial  level  will  also  be  organised  to  foster  political 
ownership and ensure alignment with broader EU policies and effective coordination among 
EU  Member  States.  These  regular  discussions  would  be  relevant  to  establish  political 
momentum and support for financial literacy actions at both EU and Member State level.  

The Commission also welcomes the work of the European Supervisory Authorities on financial 
education,  in  particular  the  repository  on  financial  education  initiatives,  which  is  key  to 
improve coordination and promote the exchange of good practices. The Commission calls for 
the ESAs to jointly develop a broader repository on financial education initiatives taken 

curriculum  consistently  rank among  the  top performers  in terms  of  financial  literacy  in EU-wide  surveys.    In 
addition, in line with the scope of the financial competency frameworks, this strategy does not cover financial 
literacy  for  entrepreneurs  and  SMEs,  which  are  covered  in  other  Commission  workstreams.  Through  the 
EntreComp  the  Commission  promotes  entrepreneurship  education,  including  for  underrepresented  groups  like 
women and youth. Additionally, practical experience and networking are promoted through the Erasmus for Young 
Entrepreneurs (EYE) and the Enterprise Europe Network. 
15 A teachable moment is the most effective time to deliver education. Citizens are more likely to improve their 
financial  knowledge,  improve  financial  skills  or  adopt  better  financial  behaviour  during  teachable  moments 
because  it  is  the  time  that  they  are  most motivated  and  receptive  to  learning. Teachable moments  in  financial 
literacy are moments were citizens have the possibility to apply their knowledge in a concrete case of interest to 
them. 

6 

 
 
 
 
 
in the sectors they supervise. The repository should be easily accessible online, inclusive, user-
friendly and searchable,  enabling users to  identify existing  practices by theme, based on an 
underlying classification system. Its scope should not be limited to digital financial education.  

To facilitate exchanges and help stakeholders to connect with each other, the Commission will 
also  organise  regular  workshops  with  financial  literacy  practitioners  bringing  together 
private  sector  and  not-for-profit  stakeholders,  including  consumer  and  retail  investor 
associations. These workshops will aim to identify guiding principles or practical measures to 
foster cooperation and will promote the creation of a pan-European community of private and 
not-for-profit financial literacy practitioners.  

The involvement of private stakeholders in improving financial literacy has clear merits as a 
complement  to  initiatives  by  other  stakeholders,  most  notably  because  it  enables  the 
mobilisation of  their vast  networks,  practical  expertise  and outreach capacity. However, the 
absence  of  a  standardised  code  of  conduct  for  these  stakeholders  can  lead  to  (perceived) 
conflicts of interest or inconsistencies in the quality and reliability of the information provided. 
Therefore, the Commission will promote and assist in developing a European code of conduct 
for  private  and  not-for-profit  organisations  providing  financial  literacy  initiatives. The 
voluntary  code  of  conduct  should  be  principle-based  and  developed  jointly  by  relevant 
stakeholder representatives under the auspices of the Commission. A robust code of conduct 
would  ensure  that  the  objectives  of  financial  literacy  initiatives  are  transparent,  and  that 
educational  content  is  accurate  and  unbiased,  thereby  fostering  trust  among  consumers  and 
investors, and enhancing the credibility of the initiatives. It would also help mitigate the risk 
of potential conflicts of interest, where private entities might promote products or services that 
benefit their own interests rather than the financial well-being of participants. A well-defined 
code would promote ethical behaviour, accountability, and continuous improvement, ultimately 
leading  to  more  effective  and  equitable  financial  literacy  programmes.  In  addition,  the 
Commission recommends that Member States consider incorporating the EU code of conduct 
into their national financial literacy strategies (16). 

Proposed measures: 

•  The  Commission  will  organise  regular  financial  literacy  thematic  meetings  of 
relevant  government  expert  groups,  where  warranted,  to  coordinate  efforts  on 
communication, awareness raising, monitoring, evaluation and funding of national 
financial literacy initiatives. The first meeting will be organised in Q1 2026. 

•  The  Commission  will  work  with  relevant  stakeholders  to  define  thematic  priority 
areas and identify best practices; exchanges on these practices will then be carried 
out among Member State experts in designing and implementing financial literacy 
initiatives starting in Q4 2026. These best practices will be presented and discussed 
with Member States at both technical and political levels. Each Member State will be 

16 For example, Austria’s national financial literacy strategy includes a code of conduct for the involvement of 
stakeholders. See: Federal Minister of Finance (Austria) (2024). Overview National Financial Literacy Strategy 
(Download & Contact Details). [online] Available at: https://www.bmf.gv.at/en/the-ministry/National-Financial-
Literacy-Strategy/overview-national-financial-literacy-strategy/download---contact-details.html 

7 

 
 
 
 
 
 
responsible for evaluating the implementation of the identified best practices and the 
Commission will publish the results of the discussion. 

•  The Commission will  organise regular  workshops  bringing together private sector 
and  not-for-profit  stakeholders  to  facilitate  exchanges,  foster  cooperation  and 
promote  the  creation  of  a  pan-European  community  of  financial  literacy 
practitioners, as of 2026. 

• 

In  2027,  the  Commission  will  organise  a  first  ministerial-level  event  on  financial 
literacy to take stock of progress achieved in the dissemination and implementation 
of  best  practices  and  to  review  key  emerging  trends.  The  event  will  aim  to  ensure 
continued active engagement and political  commitment and will be held  every two 
years. 

•  The  Commission  will  support  the  development  of  a  voluntary,  principle-based 
European  code  of  conduct  for  private  and  not-for-profit  organisations  in 
collaboration  with  relevant  stakeholders  by  Q1  2027.  The  Commission  also 
recommends that Member States consider incorporating the EU code of conduct into 
their  national  financial  literacy  strategies  and  monitor  progress  by  tracking  the 
number of organisations adhering to it. 

b.  Communication and awareness raising 

The 2024 Council conclusions emphasise the importance of awareness-raising campaigns in 
the area of financial literacy, encouraging Member States to take relevant action.  

Financial  literacy  programmes  and  initiatives  are  essential  but  raising  awareness  of  such 
programmes  is  an  obvious  pre-condition  for  their  success.  In  this  context,  an  EU-level 
awareness  campaign  will  be  designed  to  bolster  existing  national  actions  in  this  area, 
complementing communication, awareness and guidance efforts of Member States’ authorities 
and EU and national consumer and industry associations as well as social partners.  

The  EU-level  awareness-raising  campaign  will  focus  on  personal  finance  skills,  including 
budget planning, retirement planning, debt management, risk management and fraud and scam 
prevention, which are relevant to all EU citizens, particularly vulnerable groups. The campaign 
will be sufficiently flexible to support tailored national approaches that cater for specific target 
groups such as people with disabilities, women, young, older and low-income people. These 
groups can be hard to reach and may have specific needs that may vary across Member States. 
Therefore,  it  is  important  that  national  strategies  utilise  existing  infrastructures,  including 
community centres or similar social hubs found at the local level, where relevant, and work 
with trusted and relatable interlocuters to reach these target groups. 

At  the  same  time, the  campaign  would  support  the  broader  SIU  objectives  of  fostering  “an 
investment  culture”  and  raising  awareness  about  the  risk  and  opportunities  of  investing, 
including risk-return trade-offs and the benefits of diversification. The campaign will include 
a range of communication materials aimed at helping investors gather information, including 
on how to participate in capital markets and the features of different investment products, in an 
inclusive way. It would highlight the benefits of Savings and Investment Accounts (SIAs) in 

8 

 
 
 
 
 
 
facilitating participation in capital markets, thus complementing the SIA recommendation by 
contributing to the visibility of SIAs and encouraging their take-up. 

In order to support Member States’ initiatives, increase their visibility and ensure consistent 
messaging, a network of "financial literacy ambassadors" will be established. This network 
of  public  figures  will  champion  financial  literacy  as  a  European  and  national  cause,  going 
beyond  just  investment  decisions  —to  include  everyday  money  management  and  raising 
consumer awareness. Without these advocates, efforts to increase public awareness have often 
lacked the necessary visibility and influence to effect meaningful change. Ambassadors could 
bridge  the  gap  by  providing  relatable  examples  and  personal  testimonies  that  resonate  with 
diverse  audiences, thereby enhancing  engagement  and encouraging more people to  develop 
essential financial skills. 

Ambassadors should have a key role within Member States in guiding citizens towards reliable 
financial  literacy  programmes  and  resources  and  relevant  interlocutors,  including  consumer 
and retail investor associations, social partners and national authorities. Ambassadors will be 
selected and appointed by each Member State to support and amplify overall efforts to advance 
financial literacy across the EU. These ambassadors will operate at national  and local level, 
engaging  with  citizens  and  communities  (including  those  in  rural  areas),  businesses, 
governments and educational institutions. They will foster the debate at national level, targeting 
different groups through various channels, including by participating in public events, engaging 
with mainstream media and connecting with younger generations on social media. They will 
aid  in  the  promotion  of  educational  programmes,  encourage  informed  financial  decision-
making,  and  support  initiatives  that  enable  citizens  to  better  manage  their  finances  and 
participate in capital markets. Member States are encouraged to provide continuous support to 
the ambassadors in carrying out their tasks.  

The Commission will regularly engage with the financial literacy ambassadors,  periodically 
bringing them together to assess progress, exchange insights and ideas, and share best practices 
at local level. It will also equip them with key messages and communication materials, which 
the ambassadors can tailor and adapt to the local context. This network of ambassadors could 
also collaborate with EU and national consumer  and retail investor organisations and social 
partners in implementing the awareness-raising campaign or by promoting the actions of these 
organisations,  including  those  on  financial  guidance.  This  approach  aims  to  leverage  on 
existing national networks and expertise to maximise the campaign's impact and reach. 

The  EU  ambassadors  can  also  play  an  active  role  during  the  OECD/INFE’s  Global  Money 
week, an annual global awareness-raising campaign which aims to ensure that young people, 
from an early age, have the necessary financial knowledge and skills.  

In addition,  the Commission  will organise  public events, featuring  discussions  on financial 
and investment literacy. 

Proposed measures:  

•  The Commission, together with Member States, will create by Q1 2026 a network of 
reputable “financial literacy ambassadors” to foster debate at national level. These 
trusted  public  figures  will  help  champion  financial  literacy  as  a  national  and 
European cause and relate to the unique context of the Member State.  

9 

 
 
 
 
•  The Commission will run an extensive communication and social media campaign, 
targeting  various  groups,  including  youth,  children  and  vulnerable  ones.  The 
campaign will also raise awareness on EU funding schemes in support of national 
financial literacy strategies and initiatives.  The Commission can also help identify 
specific needs or priority areas and promote specific initiatives at national level to 
increase their reach and impact.  

•  The Commission will hold public events focused on financial literacy and its role in 
supporting financial well-being, as part of broader awareness-raising initiatives. 

c.  Monitoring progress and assessing impacts 

Monitoring progress and assessing impacts will be crucial in evaluating the effectiveness of 
financial literacy actions.  In  its conclusions  on financial literacy, the Council recommended 
Member  States  to  take  actions  to  strengthen  monitoring  and  evaluation  efforts  (17).  The 
Eurogroup in inclusive format has decided that it will regularly conduct a structured monitoring 
to assess the performance of European capital markets and track progress on Capital Markets 
Union (CMU), including the level of financial literacy (18).  

To support this, the Commission will conduct a second Flash Eurobarometer survey on 
financial literacy in 2027 and continue to do so regularly afterwards. By comparing the survey 
results  with  those  of  the  2023  Flash  Eurobarometer,  financial  literacy  developments  and 
progress in all EU Member States can be tracked through a common measurement framework 
(19). Besides collecting the comparative data vis-à-vis the 2023 survey, the Commission will 
consider including additional questions on matters such as budgeting and saving, retirement 
preparedness  and  planning,  financial  resilience  and  insurance  coverage,  while  avoiding 
duplication  with  information  already  collected  through  alternative  surveys.  This  data  will 
support the analysis  of financial behaviour and provide insight  into the correlation  between 
levels  of  financial  literacy  and  financial  well-being,  also  considering  the  gender  and  age 
dimension.  It  will  also  help  identify  areas  where  financial  literacy  initiatives  would  be 
particularly helpful. The Commission also encourages Member States to participate in other 
international surveys on financial literacy.  

In  addition  to  monitoring  the  levels  of  financial  literacy  in  the  EU  it  is  also  important  to 
monitor the implementation of the established best practices in Member States. To this end, 
the Commission proposes that the process of exchanging best practices be complemented by a 
mechanism for reporting to the Eurogroup in inclusive format. In addition, the Commission 
will work with Member States and stakeholders to monitor the implementation of the EU code 
of conduct for private and not-for-profit organisations. 

17 Council of the European Union (2024).  Capital Markets Union: Council approves conclusions on financial 
literacy  (Press  release,  14  May  2024).  [online] Available  at:  https://www.consilium.europa.eu/en/press/press-
releases/2024/05/14/capital-markets-union-council-approves-conclusions-on-financial-literacy/ 
18  Council  of 
https://www.consilium.europa.eu/media/kljp0mvi/cmu_monitoring_framework.pdf 
19 For an overview, see European Commission (2023). European Financial Stability and Integration Review 2023. 
[online] 
https://finance.ec.europa.eu/document/download/ffc80aa7-96a8-4500-b7a5-
eaf1f8e607cf_en?filename=european-financial-stability-and-integration-review-2023_en_0.pdf 

the  European  Union  (2024).  CMU  Monitoring  Framework.  [online]  Available  at: 

Available 

at: 

10 

 
 
 
 
 
 
Rigorous  evaluation  of  financial  literacy  initiatives  is  key  to  evaluating  their  effectiveness, 
including in delivering behavioural changes, and identifying best practices. The Commission 
encourages relevant stakeholders (20) to make use of the Commission’s Learning Lab on 
Investing  in  Quality  Education  and  Training  for  the  evaluation  of  financial  literacy 
initiatives.  In  addition,  the  Commission  is  committed  to  supporting  the  development  and 
uptake of evaluation tools by Member States. Existing tools such as the European Institute 
of Innovation and Technology (21) methodology for evaluations and the OECD work in this 
area can serve as a model, while exchanges of best practices can provide an opportunity for a 
more in-depth discussion, including on methodologies and indicators for measuring concrete 
outcomes and behavioural changes (such as increased savings rates, use of digital platforms, 
insurance coverage, supplementary pension participation or levels of participation in capital 
markets). 

Lastly,  financial  literacy  featured  prominently  in  the  country  reports  of  the  2025 
European Semester, building also on the Technical Support Instrument’s projects. The 
Commission will continue to assess financial literacy developments in each country report 
that is part of the European Semester framework. The analysis in these reports could build 
upon the aforementioned Eurobarometer surveys on financial literacy levels. The analysis will 
inform  the  content  of  country  reports  and  may  feed  into  potential  country-specific 
recommendations. 

Proposed measures: 

•  The Commission will conduct a second Flash Eurobarometer on monitoring levels 
of financial literacy in the EU in 2027 and will continue to do so regularly afterwards. 
To  further  improve  monitoring,  the  Commission  encourages  Member  States  to 
participate in international surveys on financial literacy.  

•  The  Commission  will  support  the  development  and  uptake  of  evaluation  tools  by 
Member States, including by discussing the use of such tools in the exchange of best 
practices. The Commission will also encourage stakeholders to use the Commission’s 
Learning Lab on Investing in Quality Education and Training for the evaluation of 
their financial literacy initiatives.  

•  The  Commission  already  considers  and  will  continue  to  consider  financial  sector 
issues  including  financial  literacy  in  the  European  Semester  process.  Where 
warranted, the Commission may propose country-specific recommendations in these 
areas.  

20 The Lab promotes education policy evaluation practices in the EU. It offers general training courses, customised 
technical support on policy evaluation, including help on designing an evaluation process, and free counterfactual 
impact  evaluation  studies  of  education  policies  for  selected  projects.  Policy  makers  and  members  of  the  civil 
society, including social partners and education practitioners, can participate in the Lab. For further information, 
see: European Commission; Directorate-General for Education, Youth, Sport and Culture (2022). Learning Lab: 
Investing  in  Quality  Education  and  Training.  [online]  Available  at:  https://education.ec.europa.eu/focus-
topics/improving-quality/learning-lab 
21 European Institute of Innovation & Technology (2022). EIT Monitoring and Evaluation Strategy 2022–2027. 
[online] 
at: 
https://www.eit.europa.eu/sites/default/files/eit_monitoring_and_evaluation_strategy_2022-2027_1.pdf 

Available 

11 

 
 
 
 
 
 
d.  Funding for financial literacy initiatives including for research 

Securing funding for financial literacy initiatives will be crucial. Adequate funding is necessary 
to  implement  comprehensive  educational  programmes  and  initiatives  that  can  address  the 
diverse needs of the population. 

In implementing this financial literacy strategy, the Commission encourages Member States to 
make the best use of existing funding channels, including the Erasmus+ programme, the Single 
Market Programme, the Technical Support Instrument, and the European Social Fund Plus, to 
finance  financial  literacy  initiatives  under  the  current  Multiannual  Financial  Framework 
(MFF).  

While the Commission has funded financial literacy initiatives through various programmes 
(22),  a  more  structured  and  coordinated  approach  could  make  it  easier  for  stakeholders  to 
identify relevant funding sources. Building also on existing tools, a dedicated website set up 
by the Commission that gives a comprehensive overview of the relevant EU funding channels 
for  financial  literacy  would  enhance  the  visibility  of  funding  sources  and  strengthen  the 
implementation of financial literacy initiatives and research projects.  

Academic research can advance financial literacy objectives in several ways (23). In line with 
this,  the  2024  Council  conclusions  on  financial  literacy  recommend  to  the  Commission  to 
facilitate research opportunities and call on the Commission, Member States and stakeholders 
to  stimulate  research  and  collaboration  by  considering  funding  opportunities  to  improve 
financial  literacy  in  the  EU. The  Commission  will  promote  the  use  of  existing  funding  for 
financial literacy initiatives and research projects. In addition, the Commission will promote 
the use of the financial literacy competence frameworks in the design of financial literacy 
initiatives  and  research  projects  seeking  EU  funding, 
the 
implementation  of  these  frameworks.  The  objective  of  this  strategy  is  to  complement,  not 
replace, national financial literacy funding opportunities. 

thereby  supporting 

Looking  ahead  and  as  mentioned  in  the  Commission’s  MFF  proposal,  the  National  and 
Regional Partnership Plans will be expected to support, inter alia, measures, including reforms, 

22 Including via the digital financial literacy flagship initiative under the TSI, Erasmus+ and the ESF + and the 
Single Market Programme. In addition, many financial literacy projects are also funded at national level by public 
or private stakeholders. 
23 It can help assess the effectiveness of national financial literacy strategies and inform country reports under the 
European Semester framework (see Section c). It can also identify best practices through cross-country initiatives, 
overcoming the local focus of national initiatives which might hinder the implementation of national initiatives in 
countries  with  different  institutional,  social  and  demographic  characteristics.  Furthermore,  it  can  support  the 
implementation of the voluntary EC/OECD-INFE financial literacy competence frameworks by developing and 
testing competence-based educational material. This would facilitate the integration of the youth framework in 
curricula,  as  schools  often  lack  the  expertise  to  develop  rigorous  evaluations  and  identify  best  practices  (see 
Section a and Section c).  

12 

 
 
 
 
 
 
 
to  further  the  Savings  and  investments  Union  and  foster  the  development  of  market-based 
funding options. This can also include actions on financial literacy. 

Proposed measures: 

•  The  Commission  will  set  up  a  website  to  help  stakeholders  find  information  on 
existing  EU  funding  channels  for  financial  literacy  initiatives  and  research.  The 
Commission also calls on Member States to improve the visibility of national funding 
channels  for  financial  literacy  initiatives  and  make  them  easily  accessible  for 
stakeholders. 

•  The  Commission  will  promote,  where  relevant,  the  use  of  the  financial  literacy 
competence frameworks to design financial literacy initiatives and research projects, 
including where they may benefit from EU funding. 

•  The Commission will encourage Member States to make the best use of existing and 
future  funding  channels,  including  under  the  current  MFF,  such  as  Erasmus+, 
European  Social  Fund  +,  Single  Market  Programme,  and  the  Technical  Support 
Instrument.  

3.  Conclusions and next steps 

At the heart of this financial literacy strategy lies a fundamental commitment to support citizens 
in managing their financial well-being. Financial literacy has the potential to unlock doors to 
better  life  outcomes:  from  preventing  over  indebtedness  and  securing  stable  housing  to 
planning for retirement, as well as navigating unexpected challenges with resilience. It is the 
cornerstone of personal empowerment, economic inclusion, and long-term prosperity for all, 
benefitting  communities  and  the  broader  economy.  By  equipping  individuals  with  the 
knowledge,  skills,  and  confidence  to  make  informed  financial  decisions,  we  are  not  only 
contributing to increasing individuals’ financial independence —we are cultivating a resilient, 
inclusive  and  forward-looking  society  where  citizens  can  thrive.  Acting  without  delay  is 
essential,  especially  since  the  full  impact  of  any  financial  literacy  strategy  will  not  be 
immediate and will materialise only over time, as individuals adapt their behaviour. 

The  next  phase  will  focus  on  the  effective  implementation  of  the  strategy,  with  a  strong 
emphasis on structured cooperation among Member States and key stakeholders to maximise 
the impact of ongoing and future initiatives.  

To track progress, a robust monitoring framework will be established, using existing tools such 
as the Flash Eurobarometer survey, the Eurogroup monitoring processes, and country-specific 
monitoring in the European Semester. The Commission will assess the implementation of the 
financial literacy strategy in the broader context of the planned SIU strategy’s mid-term review 
in 2027. This review will provide a key opportunity to identify any implementation challenges 
and refine the strategy as needed, to ensure continued relevance and impact.  

Stakeholder engagement will remain central, involving the private sector, consumer and retail 
investor organisations, social partners, and international partners to share  best practices and 
align  efforts.  Regular  reporting  will  provide  updates  and  solicit  feedback  to  inform  future 

13 

 
 
 
 
 
action.  Finally,  findings  from  monitoring  and  evaluation  will  inform  long-term  planning, 
ensuring financial literacy remains a key priority in EU policy and funding frameworks. 

14 

 
 
 
 
APPENDIX: Table of actions 

Pillar 

Proposed action 

Date 

Regular  financial  literacy  thematic  meetings  of  relevant  government  expert  groups  to  coordinate  efforts  in  terms  of 
communication, awareness raising, monitoring, evaluation and funding of financial literacy initiatives. 

As of Q1 2026 

Identification  of  thematic  priority  areas  and  exchanges  of  ‘best  practices’  among  Member  States’  experts  in  designing  and 
implementing financial literacy initiatives.  

Q4 2026 

Coordination and 
best practices 

A  ministerial  event  on  financial  literacy  to  take  stock  of  progress  achieved  in  the  implementation  and  dissemination  of  best 
practices and to review key emerging trends. 

As of 2027 

Development  of  a  voluntary,  principle-based  European  code  of  conduct  for  private  and  not-for-profit  organisations  in 
collaboration with relevant stakeholders. 

Q1 2027 

Regular workshops with private sector and not-for-profit stakeholders to facilitate exchanges, foster cooperation and promote the 
creation of a pan-European community of financial literacy practitioners. 

As of 2026 

Establishment  of  a  network  of  well-qualified  “financial  literacy  ambassadors”  to  foster  debate  at  national  level,  champion 
financial literacy as a national and European cause as it relates to the unique context of the Member State. 

Q1 2026 

Communication 
and awareness 
raising 

EU-wide communication and social media campaign on financial literacy, targeting various user groups, including youth, children 
and vulnerable ones.  

As of 2026 

Organisation  of  public  events focused on financial  literacy  and  its role in  supporting  financial  well-being, as  part  of  broader 
awareness-raising initiatives. 

As of 2026 

15 

 
 
 
 
 
 
  
Second  Flash  Eurobarometer  survey  on  monitoring  levels  of  financial  literacy  in  the  EU.  The  Commission  will  continue  to 
conduct such surveys regularly afterwards.  

As of 2027 

Monitoring 
progress and 
assessing impacts 

Support for the development and uptake of evaluation tools by Member States. The Commission will also encourage stakeholders 
to use the Commission’s Learning Lab on Investing in Quality Education and Training for the evaluation of their financial literacy 
initiatives.  

As of 2026 

Inclusion of financial literacy in the European Semester process to promote consistent evaluation and potential country-specific 
recommendations. 

Ongoing 

Website to help stakeholders retrieve information on existing EU funding channels for financial literacy initiatives and research. 

Q4 2026 

Funding for 
financial literacy 
initiatives 
including for 
research 

Promotion of the use of the financial literacy competence frameworks to design financial literacy initiatives and research 
projects, including where they may benefit from EU funding. 

The Commission will encourage Member States to make the best use of existing and future funding channels, including under 
the current MFF, such as Erasmus+, European Social Fund +, Single Market Programme, and the Technical Support 
Instrument. 

Ongoing 

16