Frontpage News 2014 The Danish Money W...

The Danish Money Week 2014 starts today

10 March 2014

When it is time to go to class at 8.00 in the country’s municipal primary and lower secondary schools, it is also the beginning of Denmark’s first Money Week. 
 
It is an important societal task to ensure that the young acquire basic skills in private finance. The banks would like to contribute to this task with targeted teaching in the municipal primary and lower secondary schools.
 
Way too many children and young people end up as bad payers because they do not know the basic concepts of interest rates, loans and budgets. This means, among other things, that they take up expensive consumer loans without being able to figure out the economic consequences. In total, approximately 50,000 young people aged 18-30 were registered in RKI’s register of bad payers, which has serious consequences.
 
"Although the responsibility for knowledge of personal finance primarily lies with the young people’s parents, we must also note that not all families are able to handle the task. But that must not affect the young people and their onward journey through life, "says Deputy Chief Executive of the Danish Bankers Association, Louise Mogensen, and continues:
 
Therefore, the Danish Bankers Association has initiated Denmark’s first Money Week -  ‘’Pengeuge’’, which is a brand new, nationwide effort to teach our children and young people the skills they need, when they need to manage their own finances. The Danish Bankers Association has asked the Danish Mathematics Teachers Association to develop new teaching materials to be used in the Money Week.

"The teaching material is designed for 7th-8th graders, since it typically is at that age at which students get their own money to their disposal. They may have taken an after-school job or they may have received confirmation money, " Louise Mogensen continues.
 
Teaching materials are freely available to all and can be downloaded from www.pengeuge.dk. It can be applied to a course, or the components may be used separately. The material covers approximately 4 teaching modules or 8 lessons.
 
"All schools can participate to the extent they want. During Money Week 10-14 March 2014, a number of schools across the country will be visited by guest lecturers from banks. Among them are a number of the country's top banking executives, "says Louise Mogensen, who will be teaching at a school in Hvidovre.
 

Facts

On www.pengeuge.dk, one can read more about the activities during Money Week 2014. Additionally, there are links to other relevant teaching material plus other material on children, young people and personal finance.
 

Who is behind Money Week 2014?

The Danish Bankers Association arranges Money Week 2014. Denmark’s Mathematics Teachers Association, the Consumer Council Tænk and the Financial Services’ Union support the cause.
 

Purpose

The purpose with Money Week 2014 is to teach children and yound people about personal finance terms such as interest rates, loans and budgets, so that they are prepared to be responsible for their own personal finance and avoid getting in financial trouble.
 
Money Week 2014 is non-commercial and has a purely educational aim.
The Danish Bankers Association has developed a set of guidelines for the teaching during Money Week 2014. The guest lectures must be free of company logos, reference to specific products etc.
 
 

Where can I read more?

 
Contact the arrangers by sending an e-mail to mail@pengeuge.dk
Or directly to:
 
Helle Jeppesen, hje@pengeuge.dk or phone: 3370 1035
Christian Michelsen, cmi@pengeuge.dk or phone: 3370 1144
 
Press contact:
Thomas Søie Hansen, tsh@finansraadet.dk or phone: 3016 1098
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