News

Young students learn to take care of their money and make sound financial decisions

On 24-25 March, JA Europe partnered with Mitsubishi UFJ Financial Group (MUFG) for the first-ever Online Innovation Camp on Financial Education with the objective to educate young people on how to manage their money and make wise financial decisions for their future. The initiative feeds into the theme of this year’s Global Money Week – “Take care of yourself, take care of your money” – which highlights the importance of building financial resilience and staying healthy in the current context.

More than 70 students from four European countries (Czechia, Italy, Poland and Turkey) and South Africa were selected to participate in the online innovation camp. The challenge they received was to use a combination of innovation skills to create a product or service that will educate other young people on how to better manage their finances. Over two days, the 14 teams of talented students aged 15-18 years worked online with business mentors from MUFG and presented their solutions to a high-level jury.

The winning team from Turkey “60 Dynamics” came up with an innovative proposal to create an educational game for young people to learn how to manage their finances. The second place was awarded to team “PEAK” from Czechia and their banking app extension that would help teenagers save pocket money by providing them with tips and ideas. “IMATEAM” from Italy came in third with their app to show young kids the most convenient offer when making purchases and displaying their daily allowance. 

Salvatore Nigro, CEO JA Europe, said that “finances are complex decisions that require the ability to analyse and take risks. Young students should be ready to make the best financial decisions for their future, which will not only shape their quality of life but also that of other people and of the planet as a whole”.

Philip Roberts, Deputy Head of Global Corporate and Investment Banking for EMEA, MUFG, said that “the effects of the pandemic further reinforces the need to financially educate young people from as early on as possible. MUFG’s partnership with JA Europe helps to connect young people with our keen volunteers to share their expertise in financial education and give them an insight into the world of banking. The last two days have truly shown how universal and vital money management is, with participants from a range of different locations and backgrounds coming together to learn and have fun. We truly enjoyed supporting this fantastic initiative and look forward to future events."

MUFG in EMEA has partnered with JA Europe since 2013, helping to inspire and prepare young people to succeed in a global economy. In 2019-2020, MUFG volunteers donated almost 2,000 hours to JA Europe's financial education and employability programmes. Employees from our offices in Belgium, Czechia, Italy, Poland and the UK helped young people to develop crucial skills, with more than 600 students benefitting directly from the MUFG EMEA partnership.

About JA Europe

JA Europe is the largest non-profit in Europe dedicated to preparing young people for employment and entrepreneurship. JA Europe is a member of JA Worldwide® which for 100 years has delivered hands on, experiential learning in entrepreneurship, work readiness and financial literacy. JA creates pathways for employability, job creation and financial success. Last school year, the JA network in Europe reached almost 4 million young people across 40 countries with the support of nearly 100,000 business volunteers and over 140,000 teachers/educators.

About Mitsubishi UFJ Financial Group (MUFG)

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with over 2,600 locations in more than 50 countries. The Group has over 180,000 employees, and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.  

MUFG aims to be the world’s most trusted financial group through close collaboration among its operating companies, and to respond to all of the financial needs of its clients, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges.

Please visit our website for more information - mufgemea.com