‘Money Week’ Celebrates 10 Years of Educating Kids

Analysis

Minister of Finance Mihály Varga Mihály holds a lesson on financial awareness during the Pénz7 week at the Sándor Kőrösi Csoma Bilingual Baptist High School in Budapest on March 5.

Photo by Attila Kovács / MTI.

For the 10th time, the Pénz7 (Money7) Finance and Entrepreneurship Week was organized nationwide from March 4-8 to raise awareness of the importance of developing financial literacy, entrepreneurship and business skills among primary and secondary school students.

More than 200,000 students from 1,250 schools nationwide participated in Pénz7 2024 through 15,000 lessons given by 650 volunteer tutors.

The 10th edition of the thematic week also attracted experts from associations representing the insurance sector, including the Hungarian Association of Insurance Consultants (MBTSz), founded only this January, which delivered “Financial Life Lessons” in three educational institutions.

Under a strategic agreement between the Pénziránytű Foundation, the co-organizer of the week, and the Association of Hungarian Insurance Consultants will coordinate awareness-raising activities and work together implementing financial awareness campaigns.

The experts of the MBTSz have transformed unconventional lessons for primary and secondary school students into instructive financial life lessons. One of the volunteers was economist and monetary expert Péter Koppány, who gave a combined lesson to students of the Ferenc Nádasi Gymnasium and College of the Hungarian University of Dance Arts.

Edit Martonosi, chair of the MBTSz committee for customer education, lectured to students of the Szent István Ciszterci Gimnázium in Székesfehérvár. Edina Szojka, chair of the MBTSz committee for training and certification, taught students of the Mátyás Hunyadi Elementary School in Budapest.

Among other things, they discussed the details of savings, borrowing and interest calculation, and the importance of insurance as students become actively involved in finance at an ever earlier age.

“As an economist and a financial professional, I believe it is important to raise young people’s financial awareness, and I focused on this during my presentation,” said Koppány.

“The Pénz7 event clearly proved that any opportunity we dedicate to educating young people finds fertile ground,” added Martonosi. “For me, it is of the utmost importance that in the information society, when this age group is exposed to an incredible amount of impulses, one should not only be a ‘money user,’ but a fully conscious money manager.”

Edina Szojka was also impressed with her students. “I gave a presentation to sixth and eighth graders, and I was surprised to see how knowledgeable and professional the younger age group is about finance,” she said.

“I feel it is my personal mission to be involved in this and to pass on my knowledge about insurance to young people and young adults.”

Another longstanding guest lecturer is Minister of Finance Mihály Varga, who was presented with the Financial Support Volunteer Award at the opening event of the Pénz7 week at the Supervisory Conference Center of the Hungarian National Bank on March 5.

This article was first published in the Budapest Business Journal print issue of March 22, 2024.

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