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36.Financial Literacy for the Economic Development of Society №2022-1-BG01-KA220-SCH-000087865

Project`s Budget: 250 000.00 €
Budget for VFU: 34 560,00 €
Duration of the project: 07.02.2023 г.– 06.08.2025 г. (30 months)

Project website:



On 07.02.2023 Varna Free University "Chernorizets Hrabar" start the implementation of project №2022-1-BG01-KA220-SCH-000087865 "Financial Literacy for the Economic Development of Society" as a leading organization.

The project is co-financed by the Erasmus+ program of the European Union.


1. Yavuz Selim Ortaokulu, Turkey;
2. Platon M.E.P.E., Greece;
3. Universal learning Systems Ltd, Ireland;
4. Context Learning Finland Oy, Finland;
5. Southwest University "Neofit Rilski", Bulgaria;
6. Yenilikçi Eğitim Derneği, Turkey;
7. IIS Albert Einstein, Italy.

Financial literacy means much more than managing money and budgeting at a basic level, the consumption and saving habits of individuals in households reflect the financial nature of society. In today's socio-economic conditions, it is important for people to have financial literacy knowledge in terms of both predicting and solving financial problems and leading a prosperous life.
Financial literacy is a key skill, and the project aims to develop this skill from an early age by using digital methods and materials.

Expected results:

1. Prepared curriculum and teaching materials on financial literacy, which will be taught at the secondary level by the experts in the partnership.
2. The content and activities in the curriculum will also be included in a prepared digital edition.
3. A digital portal will be created where students and teachers will have access to financial content and will be able to conduct online financial transactions. The portal will allow students to perform simulations of: calculating credits, withdrawing money, depositing and monitoring financial transactions in a virtual environment. The virtual environment will be used for hands-on training regarding their financial literacy.

On May 29-31, 2023, the first Partner meeting under the project "Financial Literacy for the Economic Development of Society", №2022-1-BG01-KA220-SCH-000087865 was held at the Varna Free University "Chernorizets Hrabar", with the participation of representatives from all partner organizations from Bulgaria, Turkey, Greece, Ireland and Finland.
The project is co-financed by the Erasmus+ program of the European Union.
VFU presented the project, its goals, expected results and target groups. The roles and tasks of each partner, which must be fulfilled during the implementation of the project, were discussed.
The partners discussed the necessary actions for popularizing and disseminating the results of the project.
A representative of VFU briefly introduced to partners the administrative and financial rules for the implementation and reporting of the project according to the rules of the Erasmus+ program of the European Union, as well as the requirements for document storage.
The meeting ended with specifying dates for the next partner meetings on the project.