10.05.2016Sofia Municipality and Municipal Bank started a campaign for financial literacy

Today starts the joint informational campaign for financial literacy in the schools organized by Sofia Municipality and Municipal Bank. Nearly 100 children from third grade of 139 “Zaharii Krusha” School in Lozenets neighborhood in Sofia city learnt basic rules on how to manage the money they have and how to organize their weekly budget.

Mr. Doncho Barbalov, Deputy Mayor in the “Financial and Business Activity” direction of Sofia Municipality and Mr. Sasho Tchakalski, Chairman of the Management Board and Executive Director of Municipal Bank were the speakers today during the first open lesson. The pupils and the speakers were discussing different questions in the form of amusing games and interactive presentations. Some of the questions discussed were from where the money come, how to make weekly budget, how to plan their expenses and what else can the young people learn in order to improve their financial literacy.  

“Sofia Municipality has always considered that the most important capital of the city are the people – the citizens and their children and we always strive to provide the best for them. So we started this initiative with which to contribute for the motivation of the children to acquire key competences. It's never too early to establish a good start to provoke their interest in financial literacy, because that affects their future. I therefore believe that this initiative motivates them to be more informed and thus we will contribute to their development and successful realization” commented Mr. Barbalov, Deputy Mayor of Sofia Municipality.

 “Nowadays the financial competency is an important skill for all of us and we consider that with this campaign in a comprehensible way we can inform the pupils and the young people how to manage their own money, to plan their expenses and to save money.” said Mr. Sasho Tchakalski, Executive Director of Municipal bank.

The children participated actively in the discussions and the games and some of them wished to become financiers, bankers and even mayors when they grow up.  

The practical-educational initiative will continue during the whole year of 2016 in numbers of schools in Sofia. The goal is to inform and encourage the young people to get basic financial culture and knowledge. Within the campaign is organized a national competition for school essay on the topic "I Manage My Finances." The goal is also to inspire pupils to learn more about financial literacy. There will be special prizes for the best competitors and the winner will win the opportunity to spend a day in Municipal Bank, where he/she will learn a lot about finance at place and what means to work in a bank. More information about the competition can be found here.