Global Money Awareness Week 2023
Global Money Week (GMW) is an annual international awareness-raising campaign that takes place in over 175 countries. The event takes place in the third full week of March and helps raise awareness about the importance of financial literacy and highlights the role that everyone can play in promoting financial education and inclusion.
This year’s Global Money Week Awareness theme focuses on sustainability and raising awareness of the consequences of individual financial behavior not only on a person’s financial future but also on the environment and society.
“This year’s theme is aimed at the younger generations and has the goal of encouraging them to have an inclusive view when making financial decisions,” says Michael Norton. Senior Vice President, Investments, for David Lerner Associates. “Working with an experienced Investment Counselor can help guide a sound financial strategy.”
What Is Money Awareness and Why Is It Important?
Money awareness refers to understanding how money works, managing it effectively, and making informed financial decisions.
Money awareness involves knowledge about budgeting, saving, investing, debt management, and other financial concepts and practices.
Money awareness is important for many reasons:
- Better financial management: Understanding how to manage money effectively helps you make better financial decisions, avoid debt, and achieve your financial goals.
- Increased financial security: Being financially aware can help you protect your assets, minimize risk, and plan for a secure financial future.
- Improved quality of life: Good financial management can lead to greater financial stability and independence, which can improve your quality of life.
- Better decision-making: Financial awareness helps you understand the consequences of your financial decisions and make informed choices that align with your goals and values.
Overall, developing money awareness is crucial for you to lead a financially secure and fulfilling life.
What Happens During Global Money Week Awareness
During Global Money Week, various events and activities are organized to educate young people about money management, entrepreneurship, and financial inclusion.
These activities are held at the regional, national, and local levels and may include the following:
- Webinars
- Financial literacy workshops
- Visits to national banks
- Interactive games and simulations
- Youth debates
- Talks by prominent public figures
- Charity fundraising
- Contests and competitions
History of Global Money Week Awareness
Global Money Week Awareness is an initiative of the OECD’s International Network on Financial Education (INFE).
Global Money Week was founded to promote financial literacy and financial inclusion among young people, helping them develop the skills they need to make informed financial decisions throughout their lives.
By providing young people with a solid understanding of money and finance, they can be better prepared to take control of their financial futures and reach their financial goals.
The overall coordination of Global Money Week is led by Child & Youth Finance International (CYFI), a non-profit based in Amsterdam.
2023 Theme: “Plan your money, plant your future.”
How to Observe Global Money Week Awareness
- Explore the GMW website for country overviews, inspiring ideas, and available resources for your GMW
- Follow the conversation online through hashtags #PlanYourMoney, #PlantYourFuture, and #GMW2023
- Participate in events
Conclusion
GMW Awareness is an annual event that ensures that young people, from an early age, are financially aware and are progressively gaining the skills, knowledge, attitudes, and behaviors essential to make sound financial decisions and ultimately attain financial well-being and financial resilience.
By participating in Global Money Week, young people can learn how money works, including gaining employment, entrepreneurship, saving, and creating livelihoods.
IMPORTANT DISCLOSURES
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