Israel will be marking Global Money Week for the first time next week. Activities for the annual, global campaign to help middle school and high school students become more aware of the importance of smart financial behavior will run March 22-28.
Since 2012, the campaign, which is organized by the OECD, has reached over 40 million children and youth in 175 countries, according to the OECD.
“We also created an interactive game for smartphones to teach the importance of saving money, managing your budget, knowing how much money you have and planning how to use it,” Binyamin said.
“After the coronavirus crisis, people understand better the importance of managing money properly.”
Although Global Money Week takes place while Israel’s schools are on vacation for the Passover holiday, the online material will remain available to schools after the holiday, he noted.
What are the most important things teens need to learn about money? “First, the importance of savings is the basis of financial knowledge,” Binyamin said.
“Setting aside even a small amount of money every month can provide a lot for our financial security. This is a concept that people need to learn at an early age, even before they start earning salaries, to accompany them throughout their life.
Secondly, he said, children need to learn the importance of planning expenses in an organized manner. “If you learn to spread out your earnings over the week or month, it gives you control over your money to use it in the way that is best for you.”