It was launched for the sixth time this year competition for the development of financial knowledge and awareness of high school students The National Association of Voluntary Funds (ÖPOSZ).
Taking place with the support of numerous member funds and offering prizes, total prize of more than two million forintsThe main sponsor of Pénzmesterek is the Ministry of National Economy (NGM), the Ministry of Finance (PM) and the Magyar Nemzeti Bank (MNB), and its main patron Dr. Csaba Kandrács, Vice President of the MNB, as well as Minister of National Economy Márton Nagy.
On the Penzmesterek.hu page, a simple one registration available after and playable, multi-round online quiz its special feature is that the organizers have compiled a knowledge base that, on the one hand, helps the participants prepare thoroughly, and on the other hand, provides useful information for those interested in the world of finance, self-care, investments, loans and taxation.
THE competition winners valuable prizesthey can take it home. Among other things, cash prizes, material prizes (JBL Bluetooth speakers), gift certificates (Rossmann, Media Markt), to name just a few.
Not just students they can win they also reward the preparatory teachers!
“Increasing the financial awareness of the Hungarian people is in the interest of the national economy. The more people will be able to manage finances with greater awareness and security, the more families and households will grow, and through them the economic performance of the country will also grow. That is why it is important to expand the financial knowledge of young people, which is best started from childhood. The government also strongly supports initiatives such as the Money Masters competition, but for my part, every year I also teach classes as a volunteer in schools,” said Finance Minister Mihály Varga.
Are adults more financially savvy than young people?
ÖPOSZ regarding the competition national researchexamined the characteristics of the financial awareness and preparedness of different age groups, as well as how each generation judges the financial knowledge and attitude of others. (During the questions, for the sake of simplicity, people over 30 years old were apostrophized as adults.)
According to the narrow majority – 56 percent – 16-30-year-olds do not manage their finances very well, and only 20 percent have the opposite opinion. At the same time, the situation is exactly the opposite for the elderly, i.e. the respondents spoke much more favorably about them: half of them believe that adults over 30 manage their finances well or rather well, and according to one third, they are not very skilled in this area.
They spend too much on fashion and entertainment; they are less conscious than their elders; they only live for today – these were the three statements with which the respondents agreed the most, when the researchers tested the attitude of 16-30 year olds to financial issues. The good news is that these negative opinions are not shared by the majority, since only about a third of the respondents indicated the above answer options. Even fewer consider young people to be irresponsible, lazy, and anxious, but neither more conscious nor risk-taking compared to older people.
Young people have a worse opinion of themselves than older people
One of the interesting lessons of the research is that young people often have a worse opinion of their own generation than older people. When asked how skillfully today’s young people manage their finances, two-thirds of the 16-30-year-old age group concerned responded negatively, while, for example, in the case of the 50-59-year-old age group, only barely half of the respondents had this opinion. A more or less similar picture also emerged when the respondents were asked what most characterizes young people’s attitude to financial issues. For example, nearly half of the 16-19-year-olds believed that young people are less aware than the elderly, while only a quarter of the 50-year-old group held this view.
On other topics, however, the generational differences are not so sharp: in most age groups, four out of ten agreed, for example, with the statement that the young people spend too much on entertainment and fashion, and three out of ten thought that people under thirty only live for today.
It is also an interesting result that while young people have a worse opinion of their own age group in many respects than the older people see them, they spoke more positively about adults in many questions than the over-thirties themselves. For example, nearly three-quarters of those under twenty agreed with the statement that 30-60-year-olds tend to handle their financial issues well or very well, while the proportion of positive opinions did not even reach 50 percent for those over thirty.
“If young people see themselves as less aware of financial decisions, recognizing this can be an important step in order to acquire the necessary knowledge in time. This is also the mission of the Pénzmesterek competition” – He told Gábor Kravalik, secretary general of ÖPOSZ. “One of the priority goals of the Pénztárvössészég is to raise awareness of: it’s never too early to start self-care. On the one hand, this way it can become routine, integrated into the series of everyday financial decisions, and on the other hand, the younger someone starts, the more efficient saving becomes, the more financial options they can use, such as tax refunds in the case of health and pension funds”.
Source: NOGUCHI
Tags: Surprising financial contrasts young
-
