To mark the 100th anniversary of World Savings Day, the National Bank of Ukraine is launching a new project – the National Financial Literacy Testing for Adults. This initiative aims to provide Ukrainians with a self-assessment tool for evaluating their financial knowledge and to encourage self-education in financial literacy. Moving forward, this testing will become an annual event.
The testing will run from October 31 to November 7, inclusive. All citizens aged 18 and above can take it for free online by visiting the financial literacy education website "Гаразд".
Why is this important?
According to the findings of the 2021 study "Financial Literacy, Financial Inclusion, and Financial Well-Being in Ukraine," conducted by the USAID Financial Sector Transformation Project in partnership with the National Bank, a significant portion of the population overestimates its financial knowledge. For instance, 45% of Ukrainians believe they have an average level of financial knowledge, though their actual knowledge is often much lower. Particularly vulnerable groups include young people aged 18–19 and those over 60, whose financial literacy scores remain below the national average.
"We are launching the National Financial Literacy Testing, and every October-November we will invite Ukrainians to take a quick check-up of their financial health and receive free, personalized recommendations along with expert-curated materials from the NBU to boost their financial awareness," stated Andriy Pyshnyy, Governor of the National Bank of Ukraine.
Over the course of eight days, participants can take the test either in organized groups or individually, assess their knowledge, and receive recommendations for improvement. The test is expected to take around 20 minutes.
"The National Testing is not just a knowledge check – it’s also a simulator that includes 20 real-life situations faced daily by millions of financial service consumers. Participants will receive personalized recommendations and useful information for further learning. This will help them prepare for similar financial situations in life," commented Yuliya Yevtushenko, Director of the NBU Communications Department.
How to participate in the prize drawing:
20 participants will have a chance to win prizes from the National Bank by sharing their test results on social media*.
Here’s how to participate:
- Take the National Financial Literacy Test on the “Harazd” website at this link: https://harazd.bank.gov.ua/tests/test/general-test;
- Share your test results on social media (take a screenshot or photo);
- Make a post between November 1 and November 7 on your social media accounts, including the hashtag #NBU_fincheck and tagging the “Harazd” page;
- Fill out a short Google form, including the link to your post: https://cutt.ly/4eSQNxGq;
- Enter the prize drawing from the National Bank.
*Among participants who meet all requirements, 20 gift boxes will be awarded.
