The large-scale inquiry by the Organization for Economic Cooperation & Development (OECD) shows that students in Flanders score second-best in financial literacy. Only pupils in the Chinese Beijing-Shanghai-Jiangsu-Guangdong region do better. Last year, the OECD already praised Flanders for its outstanding education. This study once again highlights the indispensable value attached to schooling in Flanders as an essential part of society and culture.
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Flanders’ students rank second-best in financial literacy
The survey examined the knowledge and skills of 48,000 15-year-olds regarding money matters and personal finance. The ability to handle debit cards, understand interest rates on loans and mobile payments were all part of the equation. Having a bank account in particular tips the balance in favor of financial literacy. In Flanders, over 70% of students have their own accounts – a number that drops to a staggering 40% in countries with lower financial literacy, such as Chile, Lithuania, Poland and the Russian Federation.