Hungary

GMW national coordinator: National Commission of Banking and Insurance (Comisión Nacional de Bancos y Seguros – CNBS) Participating organisations: Banco Davivienda, Banco Azteca, Banco del País, Banco Financiera Comercial Hondureña (Ficohsa), Banco de América Central (BAC), Remesadora EHLEXSA, Instituto de Previsión Militar (IPM), Junior Achievement Honduras Total number of participating organisations: 21 Number of children and young people reached directly: 185,732 Number of adults reached directly: 110,740 Number of people reached indirectly: 296,472

Throughout Global Money Week 2021, the CNBS along with partners reached 296,472 children, youth and adults through several digital activities such as webinars on savings and other financial education topics. A stand-up show was developed, with a monologue of a character who comes from the future to raise awareness of the importance of being aware of the use of electronic banking, mobile banking and cybersecurity through financial education.

During the Week, the CNBS published infographics on social networking sites with messages about smart money management, tips to help save, and a Facebook Live event where people learnt about the importance of saving, entrepreneurship and proper money management.

HUNGARY

GMW national coordinator: Ministry of Finance Participating organisations: Ministry of Human Capacities, Ministry of Finance, Ministry for Innovation and Technology, Financial Compass Foundation, Hungarian Banking Association, Junior Achievement Hungary, Central Bank, National Tax Office, National Treasury, Audit Office, schools, banks, insurance companies, Stock Exchange Total number of participating organisations: 1,100 Number of children and young people reached directly: 171,500 Number of adults reached directly: 1,100 Number of people reached indirectly: 500,000

GMW 2021 was led by the Ministry of Human Capacities, the Ministry of Finance, the Ministry for Innovation and Technology, Money Compass Foundation (founded by the Central Bank, MCF), Hungarian Banking Association, and Junior Achievement Hungary. Government and market players joined hands to make the programme Hungarian Money Week “PÉNZ7” successful. It has grown into a public educational programme reaching over 1,200,000 schoolchildren. In 2021, after seven years of innovative work, 171,500 students from 1,100 schools joined online the Money Week. More than 700 volunteers from financial institutions, public administration and enterprises were involved in the programme.

As each year, the Financial quiz competition “ZsetON” (Token) was organised by the Ministry of Finance and its partners for high school and university students. This year’s test was held online because of the pandemic. This educational competition is very popular among youngsters, more than 36,000 students applied to participate in the contest in 2021. The final during Global Money Week included exciting tasks and lots of fun.

Linked to the MCF, two school networks were set up which held a number of competitions during the Money Week. They are the PénzOkosKupa (team competition for students at ages 12-14, and 577 teams registered), BankCode (organised together with Money Museum (Central Bank), team competition for students at ages 14-18, 380 teams registered, and Stock Market Race (organised with Budapest Stock Exchange, individual four-week long competition), a virtual investment race with virtual money which saw as winner the team whose portfolio increased the most.

MCF has also released an online financial “Escape room” for individual players. Students had an opportunity to learn all about savings accounts, credit and debit cards, and the importance of credit score, jobs and taxes for teens in this discounted financial literacy bundle that includes culminating Escape Room activities that can be done digitally.

Another successful programme of the Week was the Innovation Day, where teams of entrepreneurial young people (4-5 people) had the opportunity to offer their own solution to a real social, business problems or challenges. During the Day, company professionals supported and advised students in developing their ideas. Due to the pandemic, these competitions were held online where ten teams tested their knowledge and creativity at the same time.

The Digital Security Quiz Competition was held. Modern payment methods, PIN and password protection and other related issues were the topics of the competition developed by the Hungarian Banking Association and its partners. Students between the ages of 10-14 and 15-21 entered the online contest to test their cybersecurity abilities.

As part of the European Money Week organised by the European Banking Federation, the European Money Quiz took place in over 30 countries. Hungarian youth participated and tested their financial literacy knowledge. The organisers of Money Week also created questions and tasks for students dealing with financial literacy, digital payment and security, the use of money and the related mathematical foundations.

The Ministry of Finance launched the pocket money calculator “ZsetON” tailored to the needs of young people. This free online calculator helps them take control of their money by registering their expenditures and revenues in relevant categories and providing them with useful saving tips.

FINTELLIGENCE International Scientific and Practical Online Conference focused on the link between FinTech and financial literacy. 425 participants from nine countries took part in this challenge.