Objective
Understanding and managing personal finances is crucial for promoting individuals’ financial and economic well-being. Yet, financial literacy remains low globally, with only one-third of people understanding basic financial concepts. In addition, socioeconomic and gender financial literacy gaps persist, exacerbating social inequalities. Increased complexity of financial markets and personal responsibility due to longer life expectancy, the emergence of private pension plans, and the digitalization of banking underscore the need for national strategies to promote financial literacy. Those can empower individuals, enhance financial stability, and promote inclusive economic development.
FINforALL will evaluate the impact of a large-scale financial literacy intervention on the working population in Portugal, a developed country with below-average financial literacy. It investigates how financial education shapes individuals’ financial knowledge and behavior and how these effects extend to co-workers, firms, and local economies. While financial literacy programs have been studied globally, this project analyses often-overlooked spillover effects, which are important to designing cost-effective interventions.
The experimental design involves three randomization units: municipalities, firms, and employees. It combines survey data collected during the experiment with unique administrative data at the individual level (credit registry, tax filings, property registry, and private banks’ transactions) and firm-level (financial statements and matched employee-employer). These data allow me to examine the short- and long-term effects on individual outcomes, such as assets, credit, income, consumption, saving, employment, entrepreneurship, and broader effects on firms and local economies.
FINforALL will be the first to examine the direct and spillover effects of financial education at the workplace, offering new insights into its broader implications of financial education.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- social sciences economics and business business and management entrepreneurship
- social sciences sociology governance taxation
- social sciences economics and business business and management employment
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Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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HORIZON.1.1 - European Research Council (ERC)
MAIN PROGRAMME
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
HORIZON-ERC - HORIZON ERC Grants
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) ERC-2024-ADG
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
1099 085 Lisboa
Portugal
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.