Banks and their Impact on Financial Education at the Current Stage

Abstract

Financial education helps to ensure financial wellbeing and maintain it throughout life. Although the role of financial education is very important, very few people know about it. Planning your income and expenditure over a longer period of time and thinking about your own financial well-being is a constant and ongoing process that is passed down through generations. Getting started in financial education starts with changing attitudes towards money, by changing behavior from consumer to manager, from the notion of personal money to personal finance. It is almost impossible to be successful in managing your finances without cooperation with banks and other financial market institutions. It is important to learn how to use all that banks have to offer in order to increase your capital. Over time, the number of people who understand the importance of banks and financial institutions is growing. Banks are investing more and more in financial education, i.e. how to build beneficial bilateral relationships with them. The most significant aspects of financial education that banks are engaging in relate to limiting over-lending, stimulating savings, limiting cash transactions, how important it is to manage personal finances. The purpose of this research is to investigate how banks contribute to financial education. The subject of the research is banks and their contribution to financial education. The research methods will be description, comparison, analysis and synthesis. At the end of the research, we will present the research findings materialized in conclusions and recommendations. CZU: 336.71:[330.59:330.564.22](478); JEL: G21, G41, G51, I22