5th Edition of the Urban Financial Education Camp Project in Romania
Between June and September 2023, the Ministry of Finance (MF), the National Bank of Romania (BNR), the Financial Supervisory Authority (ASF) and the Romanian Association of Banks (ARB) organised the 5th edition of the Urban Financial Education Camp, a project dedicated to 6th and 7th grade students. Former editions were organised in June 2019, July-August 2021, as well as June-September 2022.
In 2023, the project was carried out during 16 sessions, lasting one week each, in spaces made available by the BNR through its territorial structures.
Students who had the opportunity to be part of this experience were enrolled in school units in Bucharest, Constanța, Târgu Jiu, Buzău, Baia Mare, Oradea, Cluj-Napoca, Brașov, Timișoara, Craiova, Suceava, Iași and Târgu Mureș.
During the five days of each camp, specialists from the MF, BNR, ASF and ARB presented and explained financial ideas and concepts. Each of the student groups benefited from useful information aimed at developing healthy money management habits and skills to make correct and informed choices that improve their financial situation.
In this context, the importance of financial and tax education, taxes and fees, as well as of the TAXEDU portal, were emphasised. Explanations of what taxes are and the daily benefits through surprising and fun facts about tax from around Europe made learning fun for children and teenagers. This was carried out using simple and accessible language.
Regarding TAXEDU, information was conveyed through games, e-Learning material and micro learning clips so that European youth could learn about tax in its different forms and the issues associated with it (e.g. tax fraud, tax evasion) in a fun and engaging way.
The TAXEDU Portal’s Teachers’ Corner resources, tips and tricks also delighted the children and teenagers.
A distinct point on the agenda for these Urban Financial Education Camps was the canine team’s demonstrations based on the excellent collaboration over the past years with specialists from the Romanian Customs Authority, but also the increased interest of children in this type of activity from the Urban Camps programme.
Actually, the programme utilised a non-formal teaching methodology called edutainment (education through entertainment). The activities used multi-sensory techniques that resulted in accelerated learning. Children were permanently involved in the financial education process.
In addition, games and activities were used to demonstrate important financial concepts so that students learned and had fun at the same time.
Within the Urban Financial Education Camp, a session dedicated to children from disadvantaged backgrounds was organised between 28 August and 1 September 2023 for a second year in a row. It took place in in an informal setting in Sinaia, a picturesque mountainous town 140 km from Bucharest. The necessary infrastructure was made available to the participants to create a pleasant atmosphere in which knowledge and financial information were assimilated at an optimal level.
Financial education occupies a strategic place on the agenda of all public institutions that have tasks and responsibilities in this regard. The programme’s common objective is to increase the level of financial education among students in Romania.