Did you know that, on average, only 11% of 15-year-old students in OECD countries demonstrate capabilities corresponding to the highest, 5th level of financial literacy?
According to the PISA 2022 financial literacy assessment, students who have reached this level are able to analyze complex financial situations, understand the consequences of different financial instruments, and make informed decisions. So, how can children be taught to make responsible financial decisions and navigate safely in the digital financial environment?
The study reveals a few noteworthy facts:
· Active use of financial tools: 63% of teenagers have a bank account, while 86% have made online purchases in the past year. At the same time, the active use of digital financial transactions also requires knowledge of financial and personal data security rules.
· Financial literacy and behavior are interconnected: more financially literate teenagers save money 72% more often and compare prices before making a purchase 50% more often.
· The role of parents is important: 64% of teenagers regularly discuss their spending with their parents, and children who have such discussions show higher results on financial literacy tests.
The situation in Armenia also highlights the importance of developing practical thinking: according to PISA 2025, only 28% of 15-year-old students have reached at least Level 2 in mathematical literacy, while 1% have reached the highest levels. This shows that theoretical knowledge alone is not enough; it is also important to develop the ability to reason, compare alternatives, and make informed decisions in real-life situations.
In line with these trends, Idram and IDBank conduct financial literacy courses in Armenia, which are structured in the format of interactive discussions and real-life examples. The content of the courses is tailored to the level of understanding of different age groups.
In parallel with the financial literacy courses, the Idram Junior application creates the practical environment where children can apply the acquired knowledge. Designed for children and teenagers aged 8-16, Idram Junior provides an opportunity to apply financial knowledge in everyday situations.
Real experience: Through the application, children independently make contactless QR payments, top up their mobile phones, and learn to manage personal funds while following digital security rules.
Parent-child financial cooperation: Idram Junior operates under the direct supervision of a parent. The parent transfers money, sees the spending history, and gets the opportunity to guide the child by having healthy financial discussions at home.
The financially literate society of the future is not shaped only by textbook definitions. Children need the opportunity not only to learn financial concepts, but also to apply them in everyday situations, making independent decisions and forming responsible financial behavior. With this approach, Idram and IDBank's financial literacy courses and the Idram Junior application complement each other, combining knowledge and practical experience.
IDBANK AND IDRAM COMPANIES ARE SUPERVISED BY THE CBA
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