Financial Literacy as a Part of Lifelong Education

Abstract

This article is focused on the financial literacy of elementary students as a part of a lifelong education. The introduction covers the concept of financial literacy and the development of financial education in EU countries and in the Czech Republic. It also presents the strategic documents that have been gradually published. It turns out that there is a gap for research in the field of financial education strategy for elementary and school students and its coherence with lifelong education. The national strategic plan focuses mainly on the high school students, but the practice show that it should start with students that are in the compulsory education. The results of the OECD's research called Program for International Student Assessment (PISA) show educators and policy makers the quality and equity of learning outcomes achieved elsewhere and allow them to learn from the policies and practices applied in other countries. The goal of this article is to evaluate the project of financial education and analyze the current situation in the financial literacy of the elementary school students in Czech Republic in comparison with foreign countries. The article searches for the strengths, opportunities and threats using the method of SWOT analysis. Based on the obtained results it formulates conclusions and recommendations.