Financial Literacy Russia

October 12-16, 2015, Astrakhan hosted an International Financial Literacy Week with special guest Phil Schuman, Director of Financial Literacy at Indiana University. The event was organized by the Center for Financial Literacy of Astrakhan State University to improve student’s financial literacy and exchange of experiences in this field with foreign educational institutions.

Entrepreneurship at Astrakhan

Throughout the week, it was discussed such important financial topics as personal financial planning, investments, insurance, taxes, financial fraud, bank services, financial literacy for entrepreneurs. The participants got acquainted with the foreign money management features and gained useful tips. For interesting questions and comments, participants received useful financial books.

External experts-financiers have visited the financial literacy week – Danil Gubarevskiy, The Head of Investment and Securities Department of Vkabank, who spoke about investments, and representatives of the project «Bank XXI» (Astrakhan branch of Sberbank) with presentation about banking and financial mobile services.

There is a game club with economic board games in the Center for Financial Literacy. In one of such meetings during the week the Director of the Center for Financial Literacy Aleksandr Koshkarov and American guest Phil Shuman played «Monopoly» game in English with the students of ASU Russian-American Center.

Monopoly game

A special point of the week was the development of entrepreneurship. One part of that was discussion and presentation «Financial literacy for entrepreneurs» on the basis of Russian and foreign experience. The second part was the business plan competition (topic: “The best financial literacy center”). The main aspects of business planning were discussed during each meeting, and as a result we have couple of new interesting student projects. The ideas of the participants will be taken into account in the work of the Center for Financial Literacy of ASU.

The effectiveness of the international financial literacy week is not long in coming. During the event participants were asked to answer the questionnaire (in the current topic), before and after the meeting. In particular, the overall level of financial literacy of the participants (10-point scale) increased by 53.5%, and the level of awareness (of security) about financial frauds rose by 45.8%.

Participants of the International Financial Literacy Week at Astrakhan State University shared their opinions each day in the group of the Center in social network vkontakte, and they commended the relevance and usefulness of such events.

Financially literate winners

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