“Managing your own economy well is about taking care of your own future”

On a yearly basis, Nordea supports more than 200,000 children and young people in building basic financial skills.

At Nordea, we believe that financial skills are a cornerstone of a good life. That is why we want to share the knowledge that we have in the field. We do this in the form of voluntary work and together with non-profit organisations, and every year we reach thousands of children and young people with our activities.

Throughout the year Nordea employees are busy at schools and educational institutions sharing their knowledge about, for example, expenses, budgeting and savings, and also explaining the basics of an account and a cash card. Something that Nordea has solid experience in as we have been collaborating with schools for many years. 

"Our financial skills programme is our longest running, in Sweden in stretches back to 2008. The idea behind the programme is that good financial skills enable better financial decisions, which is why we focus on the youngest making sure that even children understand finances,” says Anna Kosonen, Head of Community Engagement at Nordea.

Anna Kosonen explains that there of course are some essential basic mathematic skills you need to have in place in order to build financial skills. But already when you have learned to add and subtract, you can understand the value of money and learn how to budget. And when you have learned about percentages, you are ready to learn about, for example, loans and savings.

CEO Ellen Eriksson of Mattecentrum also believes that it’s highly important to start early. Together with Nordea, Mattecentrum supports Ekonomipejl and www.ekonomikoll.se, a new platform developed jointly. 

“The partnership between Mattecentrum and Nordea signifies our shared vision to enhance young people's knowledge of economics and mathematics. By building a dedicated website for young people to learn more about economics and mathematics, we are not only improving their academic skills but also equipping them for a successful future where financial understanding is crucial,” she says and adds: 

“Nordea's employees, who participate as volunteers for Mattecentrum, also become invaluable role models for young individuals striving for more knowledge of mathematics. This partnership is an investment in the next generation and a fundamental step towards creating a more financially knowledgeable and independent societal structure.”

In the Finnish learning concept Yrityskylä financial skills are also seen as a competence that should be continuously trained and developed. In Yrityskylä children are to spend a day in a purpose-built miniature town as employees, consumers and citizens. The concept is driven by Junior Achievement Finland, which we’ve been collaborating with for over ten years as we have been one of Yrityskylä’s first partners. 

“Through our successful cooperation with Nordea we can support the financial, work-life, and entrepreneurial skills of thousands of young people annually,” says CEO Kaisa Koistinen.

Nordea's activities towards children and young people are part of Nordea's community engagement where we also support startups and help refugees getting settled into new societies. The thinking behind is that financial skills could and should be built throughout life. 

“It is never too early or late to learn about finances, and improving financial skills can have a positive impact on reaching own goals. Financial understanding is the basis for sound risk assessment, for understanding the long-term impact of decisions and also for making you confident when you later in life meet financial documents like loan terms and investment agreements. Managing your own economy well is about taking care of your own future,” concludes Anna Kosonen.