What is Social Protection?

Financial education

"Financial education can be defined as “the process by which financial consumers/investors improve their understanding of financial products, concepts and risks and, through information, instruction and/or objective advice, develop the skills and confidence to become more aware of financial risks and opportunities, to make informed choices, to know where to go for help, and to take other effective actions to improve their financial well-being”. Financial education thus goes beyond the provision of financial information and advice, which should be regulated, as is already often the case, in particular for the protection of financial clients (i.e. consumers in contractual relationships)."

Source: OECD. 2005. "Recommendation on Principles and Good Practices for Financial Education and Awareness". Directorate for Financial and Enterprise Affairs. <http://www.oecd.org/finance/financial-education/35108560.pdf>. Accessed 11 June 2020.