FINPOWER addresses two important groups of needs. First group is related to the needs of inclusion of new innovative training tools in the adult trainings which exposed the most with the last COVID pandemic where all the learning processes immediately should have gone online. FINPOWER partners are lacking the knowledge about which digitalized tools can be incorporated in their trainings in order to increase the availability of the trainings, which tools can be incorporated in order to increase the attractiveness of the trainings as well which tools are needed to increase the motivation of learners to attend the trainings.
Therefore, with the FINPOWER all partners will get important knowledge to be able to shift more towards digital education.
The second group of needs is related with the gender gap in financial literacy, which is still a persistent problem for European societies. According to the European Consumer Payment Report (2020) women are less likely than men to feel confident about financial matters. OECD/INFE International survey of adult financial literacy (2020) exposed gender disparities in financial literacy compound women’s difficulties in securing their financial future and wellbeing and in participating confidently in economic and financial activities.
Institute of Women´s Policy Research (2017) as well as Austrian Survey of Financial Literacy (2019) exposed women have significantly lower rates of financial literacy than men. Reaching lower financial literacy than men, is leaving women at a potential disadvantage. Further, women also have particular financial literacy needs than men, because they earn less, save less, and live longer — but are still responsible for the same living expenses men pay. And since they live longer, they face additional costs, including more long-term and overall health care expenses. Overcoming these obstacles demands serious dedication to financial planning and planning for retirement.
Primary target groups:
- Adult education training providers/centres
- Women – covering the whole women population, including young women, women with families, unemployed women and women living in the rural areas
- Women associations
Secondary target groups:
- Customers of adult education training provider
- Federations of trade unions
- Chambers of Trade/commerce
- Ministries of Trade, education; finance