Increasing financial literacy and knowledge

Increasing financial literacy and knowledge

Increasing financial literacy and knowledge in society is an important aspect of responsibility. The promotion of saving and financial wellbeing has been at the core of Savings Banks’ strategy for 200 years. We work on this in our daily meetings with customers as well as in various development projects. We implement sustainability and responsibility through action. Continuous financial education and good learning materials are needed in our changing world. In the Savings Banks Group, we also share energy efficiency tips and offer competitive energy loans, for example. As a social influencer, the Savings Banks Group wishes to do its part and help people of all ages take care of their finances and build their financial future on a sound basis, based on correct information and with a systematic approach.

We believe that everyone has a chance for a more prosperous future, even if there is still some way to go. We focus on personal advice and the creation of digital content for various situations and needs in life related to finances.  

Spreading of financial wellbeing is part of responsibility 

At Savings Bank, we use a tree to model financial wellbeing. Financial wellbeing is like a tree – it absorbs nutrients through its roots. The roots of the tree symbolize not only money but also people’s values and attitudes. They influence the way people manage their finances. These behaviours are often inherited from one’s home, and the person may be unaware of them. People also need certain basic knowledge and skills to manage their finances appropriately. When a tree is in a good state of wellbeing, it has green and healthy leaves. This means the individual or household has enough money and does not feel stress about their finances. The components of personal finances include income, expenses, assets and debt. A strong tree can withstand external pressure. Such pressure can emerge from economic cycles or movements in the investment markets. People’s finances can also be affected by life changes, such as a divorce, the death of a loved one or the arrival of a new family member.