Belgium

Participating organisations: FSMA (Financial Services and Markets Authority) / Wikifin, the Belgian Monarchy with Her Majesty the Queen Mathilde, The Belgian Federal Government with Prime Minister, Minister of the Economy and Employment, Minister of Finance, Fight against Fraud, Minister of Small Businesses, the Self-Employed, SMEs and Agriculture, Institutional Reform and Democratic Renewal, Minister of Pensions and Social Integration, Combating Poverty, State Secretary for the Budget and Consumer Protection, Federation of the Belgian financial sector: Febelfin, School’s Federation Wallonia-Brussels, Flemish Community of Education, European Banking Federation (EBF) and others Total number of participating organisations: 3,010 Number of children and young people reached directly: 10,300 Number of adults reached directly: 710,000 Number of people reached indirectly: Not reported

Throughout Global Money Week 2021, the FSMA/Wikifin along with partners such as the Belgian Monarchy, the Belgian Federal Government, the schools of the Wallonia-Brussels Federation and of the Flemish Community, Febelfin, BIZ/CAW and reference centres to fight overindebtedness reached 13,000 children and youth through several digital activities.

© Koninklijk Paleis, België – Palais Royal, Belgique – Königlicher Palast, Belgien – Royal Palace, Belgium

10,000 secondary school students had a very unique opportunity to take digital classes led by the Prime Minister, the Deputy Prime Minister, the cabinet ministers of the Federal Government and by the Chairman of the FSMA. Topics discussed included “From barter to bitcoin: the evolution of payment methods in an increasingly digital economy”, “The labour market and the professions of the future”, “Why do we pay personal income tax? What are the obligations of Belgians in this respect?”, “What is the difference between self-employed status as an individual and as a company?”, “The functioning of social security”, “The state budget and tips for managing your budget”, “Sources of financing for businesses: from bank credit to crowdfunding”, and many more. For teachers and students who did not get a chance to attend, they could view the sessions on the Wikifin website.

More than 2,000 students from the first and second year of secondary school had a chance to test their financial knowledge and responsible consumption during the Wikifin Quiz held on March, 24th. This activity was a collaboration with the Federation of the Belgian Financial Sector (Febelfin). For everyone who did not have a chance to participate in the Wikifin Quiz, the questions were made available online, or they could play directly via the website and the Kahoot! app. Also, free teaching materials were made available on the Wikifin School website to help teachers prepare their classes for the Wikifin Quiz.

One 5th-year and one 6th-year class of primary school had a chance to take part in a remote conversation with Her Majesty Queen Mathilde on March, 18th, an event that kicked-started the Belgian Money Week. The students had an opportunity to learn about budgeting through the educational game “Just’in Budget.” Through the game, the youth gained better understanding of the difference between cash and bank payments, why it is important to put money aside for the unexpected, what credit is and its impact on budget management, why paying in instalments is more expensive than paying in one go, and more. They then spoke with Her Majesty about what they had learnt from the experience in terms of budget management.

Moreover, BIZ/CAW, in charge of debt prevention in Flanders and Brussels focused on the WAKOSTA app where students could enter all their income and expenditure while the app calculates what is left over each week or month. Groupe Action Surendettement (GAS), a co-creator of the Just’in Budget game engaged youth with their initiative.