Frontpage News 2014 The Danish Money W...

The Danish Money Week is here to stay

17 March 2014

​Active students and the support from mathematics teachers, principals, politicians, banks and organisations as well as a large and nationwide media attention gave Denmark's new Money Week a terrific debut.

In the past week, municipal primary and lower secondary schools across the country put private economy on the school timetable of the 7-8th graders. The teaching took over the classes regular lessons in mathematics and many classes were visited by guest lecturers from the Danish banks. Among the lecturers were the nine bank directors, who normally constitute the Danish Bankers Association’s Board of Directors.
Before the Money Week, the Danish Bankers Association published a number of new studies and analyses on the young, debt and the Danes’ financial literacy. They helped highlight the fact that too many young Danes end up in unmanageable debt spirals, mainly due to lacking financial literacy.
"A lot of young people are now registered as bad payers in RKI, the Danish credit information register. It is a societal problem that we have to focus on," Tonny Thierry Andersen, Chairman at the Danish Bankers Association stressed in ‘’Go’ Aften Danmark’’, a Danish evening TV show which on Tuesday 11 March had dedicated an entire episode to teach the Danes more about loans, interest and to tell parents how they can teach their children about personal finance.
"The support for Denmark's first Money Week has been overwhelming. The Danish Mathematics Teachers Association has produced the new study material for the Money Week and many of the nation's mathematics teachers have used it during the past week. Also, the Danish Consumer Council ‘’Tænk’’ and the Financial Services’ Union have backed the initiative, “says Deputy Chief Executive of the Danish Bankers Association, Louise Mogensen.
"In addition, there has been a major media focus on the Money Week at local, regional and national media level, which has meant that many Danes have now realized that we have to help the many young people who find themselves in unmanageable debt issues and in RKI because they know too little about personal finance, " Louise Mogensen continues.

The Danish Bankers Association organises Money Week 2015

The Danish Bankers Association’s Deputy Chief Executive is also pleased that the Minister of Education as well as principals and teachers have, in connection with Money Week, stressed that it is continually important that personal finance is prioritised in the regular mathematics teaching at school level. Still, this does not change the fact that the Danish Bankers Association will develop and scale the Money Week effort towards 2015.
"We will use the coming months to organise activities so that we can reach an even broader audience. I would like us to visit all schools, and we will also look at whether the target audience of 7th-8th graders must be extended, Louise Mogensen starts and continues:
"We will, for example, create a personal finance universe at ‘’Vismandsportalen’’, an online learning platform used in many of the nation's upper secondary schools. And in 2015, the first European Money week will take place simultaneously with the Danish Money Week, which I think seems very exciting. "
The Danish Bankers Association will create a broad basis among all stakeholders in and around the municipal primary and lower secondary school, so that Money Week can become a permanent element of the school timetable. The dates for Money Week 2015 will be announced in the early summer.
The happy winners from 7.C at Langhøjskolen in Hvidovre. The students won the Danish Bankers Association’s personal finance Jeopardy game which was included in Money Week 2014. Here, they receive the visible proof of their victory by the day’s guest lecturer the Danish Bankers Association’s Deputy Chief Executive, Louise Mogensen.
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