Financial literacy is essential for informed financial decision-making, but approximately half of EU adults, particularly vulnerable groups like low-income individuals, women, youth, and the elderly, lack a basic understanding of financial concepts. This knowledge is vital for managing risks, planning for the future, and safeguarding against financial pitfalls, fraud, and cyber threats. The European Commission is actively promoting financial literacy by providing frameworks, collaborating with Member States to develop policies and educational materials, and working with national authorities to assess financial literacy levels and establish dedicated education programs. (EC, 2023)