Financial education: Potent tool in fight against over-indebtedness
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BRUSSELS, 28 January 2019 – Savings and retail banking association ESBG released recently a new financial education brochure that focuses on good practice from ESBG members, addressing how financial education can act as a powerful tool in the fight against over-indebtedness.
A lack of education – particularly financial education – can be the cause in some cases of some of the problems affecting part of the financial system, namely over-indebtedness, lack of diversification, fraud and abuse. An increased level of financial literacy can mitigate those, particularly over-indebtedness.
ESBG posits that increased levels of financial literacy, complementing adequate consumer protection regulation, can lead to fairer and more inclusive societies.