Two 14-year old students from Głogów, Poland, in Brussels on Tuesday emerged as European champions in the first-ever international finals of the European Money Quiz, a digital financial literacy learning initiative supported by national banking associations in Europe under coordination of the European Banking Federation.
Some 50 students from 25 countries competed in the Brussels finals. All of them were winners of national financial literacy competitions in their own country and travelled to Brussels at the invitation of their national banking association. The European Money Quiz, organized for the first time this year, was played by more than 41.000 13-to-15-year-old students from across Europe.
National finals were held during March and April, with classrooms in the participating countries playing directly against each other through a live online quiz via the Kahoot! online learning platform. The list of countries represented in the finals also included Albania, Austria, Belgium, Croatia, the Czech Republic, Estonia, Finland, France, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Liechtenstein, the Netherlands, Norway, Portugal, Serbia, Slovenia, Spain and Sweden.
Each team was able to answer a total of 30 financial literacy questions in their native language. The questions were available in 22 different languages and addressed topics such as savings, debt, investments, compound interest, inflation and cyber-security.
To help students prepare for the quiz the organising banking associations had created practice quizzes. These are designed to help students test their skills and insights and determine their readiness to manage personal finances. Teachers can also use these ‘Kahoots!’ as a fun element in financial literacy classes. Since January more than 160.000 practice quizzes have been played. The practices quizzes are available at www.europeanmoneyquiz.eu and via the various national websites for the European Money Quiz.
The Kahoot! online learning platform is already widely used in classrooms worldwide, especially in Scandinavian countries and the United States. Teachers use it as a fun way to test students’ knowledge about for example geography and history. The European Money Quiz makes it possible to also use Kahoot! to test understanding of and knowledge about money and finances.
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