Hungary

2024 Hungary Global Money Week

GMW NATIONAL COORDINATOR:

  • Ministry of Finance

PARTICIPATING ORGANISATIONS:

  • Ministry of Finance, Ministry of Interior, Ministry for National Economy, Hungarian Banking Association, Money Compass Foundation (founded by the Central Bank, MCF), Junior Achievement Hungary, University of Miskolc

TOTAL NUMBER OF PARTICIPATING ORGANISATIONS:

  • 7

NUMBER OF CHILDREN AND YOUNG PEOPLE REACHED DIRECTLY:

  • 203 500

NUMBER OF ADULTS REACHED DIRECTLY:

  • 2 707

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • Not reported

Throughout Global Money Week 2024, Hungary launched several initiatives to promote financial education and literacy, including the participation of 1290 Hungarian schools in their GMW campaign. For the tenth time, Hungary organised the popular “PénzOkos Kupa” (Money Smart Cup) for upper elementary school students, where teams of three can compare their financial preparedness during online rounds in the spring, followed by county, regional and national finals. The competition is aimed at 5-6 graders but also offers (separate) competition opportunities for 7-8 graders.

The Money Compass Foundation and the Money Museum also launched the 6th edition of the BankCode competition. In this competition, student teams of 3 people can register for the four-round national financial team competition for high school students. When registering, the team must specify the type of institution, i.e. whether it registers from a high school or a vocational training institution and it will compete in that category. The preparation of the teams is supported by textbooks, webinars and e-learning materials of the Money Compass Foundation.

To test their preparedness in the digital security space, the Hungarian Bank Association and its partners released an online knowledge test, the Digitális Szimat Kihívás (Digital Sniff Challenge). Since there are increasing instances of financial frauds and scams online, this test provides anyone interested in the opportunity to test their knowledge on the use of bank cards, online payments, password protection, preventing data theft. The test includes educational games related to the topic of digital financial security. There is also a Kahoot knowledge test available on their website.

In 2024, for the 8th time, students and teachers also had the opportunity to discover the exciting world of the stock market on the joint free online stock market game of the Budapest Stock Exchange (BÉT) and the Money Compass Foundation, the Stock Race. Year 1 contestants and their teachers were also able to test their investment skills with virtual capital and real shares in a game available on the BÉT website during March. Y

In the outdoor game “PénzFutam” (Money Run), 4–14-year-olds were able to familiarize themselves with financial foundations. In this game, which can be played at more than 250 points across Hungary, players can solve interesting financial puzzles outdoors with their peers at easily accessible locations, going from station to station. At each location, new courses for three different age groups with different levels of difficulty await the teams.

The Ministry of National Economy also announced a competition for high school students aged 14-19 within the framework of the Great Student Financial Test programme. With the practical test questions, young people can test their financial skills online in topics such as savings, investment, insurance, and cyber security. The final of the test was held in May, at the National Youth Press Festival, in the framework of a show combined with a TV recording. This year, for the first time, the students' parents and grandparents were included as a target group, since there has shown to be gap in financial awareness among adults as well.

To, among other things, teach high-school students how to manage budgets, groups of 4-8 students competed against each other on the two-day (online or in-person) competition of the Junior Achievement Hungary’s Innovation Challenge. On the first day, the students were given a real social or business problem for which they had to propose a solution by the end of the second day. They were assisted in the development of ideas by experts in the given field, with whom they could discuss the business plan, marketing strategy and/or financial feasibility. The purpose of the competition was for the students to develop their entrepreneurial outlook and to encounter financial and social problems, to which they seek answers with the help of consulting company professionals. This challenge aimed to foster financial awareness and literacy and allowed students to learn from professionals in the financial world.

To test your entrepreneurial and financial knowledge, the “€co, no mi?” (€co, no what?) was introduced, an online quiz game providing participants with a dynamic learning experience through the rich question bank, interesting facts, and important economic and financial history. Those who completed the challenge earned the title of “King of Business Gurus”, adding an engaging, competitive edge to financial education and inspiring a deeper understanding of financial literacy.   

2023 Hungary Global Money Week

GMW NATIONAL COORDINATOR:

  • Ministry of Finance

PARTICIPATING ORGANISATIONS:

  • Ministry for Economic Developement, Ministry of Interior, Ministry of Finance, Money Compass Foundation (founded by the Central Bank, MCF), Hungarian Banking Association, Junior Achievement Hungary

TOTAL NUMBER OF PARTICIPATING ORGANISATIONS:

  • 6

NUMBER OF CHILDREN AND YOUNG PEOPLE REACHED DIRECTLY:

  • 198 158

NUMBER OF ADULTS REACHED DIRECTLY:

  • 2238

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 550 000

 

Throughout Global Money Week 2023, the Ministry for Economic Developement, Ministry of Interior, Money Compass Foundation, Hungarian Banking Association and Junior Achievement Hungary along with partners reached 198,158 children and youth through several digital activities such as lessons, competitions, lectures. In 2023, more than 145000 students from 1100 schools joined GMW. The topics discussed during the week covered not only finances, but also focused on entrepreneurial skills, while successful entrepreneurs also supported GMW as volunteers. High-level discussions, seminars and other educational sessions were organised by the Hungarian Banking Associations (like Fintelligence Conference in Miskolc).

2022 Hungary Global Money Week

GMW NATIONAL COORDINATOR:

  • Ministry of Human Capacities, Ministry of Finance, Ministry for Innovation and Technology, Money Compass Foundation (MCF - founded by the Central Bank), Hungarian Banking Association, Junior Achievement Hungary

PARTICIPATING ORGANISATIONS:

  • banks, insurance companies, entrepreneurs, foundations, ministries, universities, schools

TOTAL NUMBER OF PARTICIPATING ORGANISATIONS:

  • 1,207

NUMBER OF CHILDREN AND YOUNG PEOPLE REACHED DIRECTLY:

  • 215,000

NUMBER OF ADULTS REACHED DIRECTLY:

  • 30,000

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 600,000

The success of the Money Week (PÉNZ7) programme was made possible through the close co-operation of public and private organisations. Since 2015, the initiative has grown into a public financial education programme reaching over 1,400,000 schoolchildren. In 2022, more than 170,000 students from 1,000 schools joined GMW, which is very special because the topics discussed cover not only finances, but also focus on entrepreneurial skills. Successful entrepreneurs also support GMW as volunteers. The Money Museum was inaugurated by the National Bank in March.

With the support of MCF, 500 schools received printed financial education materials, while others had the option to download them for their classes from the PÉNZ7 website. MCF organised a number of competitions such as the “PénzOkos Kupa” (the MoneySmart Cup), a team competition for students in ages 10-14, “BankCode” a team competition for students in ages 14-18, “Részvényfutam” (Stock Run), organised jointly with the Budapest Stock Exchange, with real prices quoted in the BSE and virtual money, and “ZsetON” a financial quiz organised jointly with the Ministry of Finance for secondary school and university students.

It is emblematic that the Minister of Finance and the Deputy Governor of the National Bank held special classes in schools.

MCF operated a financial treasure hunt “MoneyGo” for students, where the aim of the game was to find targets in Budapest and solve financial tasks. The finance-themed textbooks of the Foundation were supplemented with AR (augmented reality) illustrations, which, using a mobile app, come alive, making the textbooks more interactive. A new web application was also released under the name of “MoneySim”, a financial simulation programme for students where players can choose specific life situations that require them to make financial decisions.

During the JAM Innovation Days, students came up with innovative ideas aimed at solving environmental and social problems. One specific challenge was to come up with a modular product design with the concept of circular economy in mind, and the solution provided was a special food container. During the competitions, nearly 250 students were assisted by 51 professional mentors.

Youth also took part in the European Money Quiz, Europe’s largest financial literacy competition, originally launched in Hungary by the Hungarian Banking Association. FinLit quizzes, which are linked to EMQ, were played 17,264 times by 129,930 players since 2018.

In 2022, the Hungarian Banking Association launched another quiz challenge as an edutainment programme linked to training material focussing on the topic of digital security under the slogan “Be smarter than a hacker!” The competition draws the attention of users by highlighting the need to be careful in cyberspace.

The Fintelligence Conference involved professionals from higher education and businesses to promote the advancement of financial literacy. Lecturers and presenters, such as the State Secretary of Finance and banking professionals shared call for action by the representatives of commercial and business fields, with the aim of promoting financial literacy. The international event held a formal awards ceremony, where the “Ambassador of Financial Literacy Awards” were handed over by the Hungarian Banking Association, on the occasion of GMW.

The video of the official GMW opening ceremony is available here.

2021 Hungary Global Money Week

GMW NATIONAL COORDINATOR:

  • Ministry of Finance

PARTICIPATING ORGANISATIONS:

  • Ministry of Human Capacities, Ministry of Finance, Ministry for Innovation and Technology, Financial Compass Foundation, Hungarian Banking Association, Junior Achievement Hungary, Central Bank, National Tax Office, National Treasury, Audit Office, schools, banks, insurance companies, Stock Exchange

TOTAL NUMBER OF PARTICIPATING ORGANISATIONS:

  • 1,100

NUMBER OF CHILDREN AND YOUNG PEOPLE REACHED DIRECTLY:

  • 171,500

NUMBER OF ADULTS REACHED DIRECTLY:

  • 1,100

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 500,000

GMW2021 was led by the Ministry of Human Capacities, the Ministry of Finance, the Ministry for Innovation and Technology, Money Compass Foundation (founded by the Central Bank, MCF), Hungarian Banking Association, and Junior Achievement Hungary. Government and market players joined hands to make the programme Hungarian Money Week “PÉNZ7” successful. It has grown into a public educational programme reaching over 1,200,000 schoolchildren. In 2021, after seven years of innovative work, 171,500 students from 1,100 schools joined online the Money Week. More than 700 volunteers from financial institutions, public administration and enterprises were involved in the programme.

As each year, the Financial quiz competition “ZsetON” (Token) was organised by the Ministry of Finance and its partners for high school and university students. This year’s test was held online because of the pandemic. This educational competition is very popular among youngsters, more than 36,000 students applied to participate in the contest in 2021. The final during Global Money Week included exciting tasks and lots of fun.

Linked to the MCF, two school networks were set up which held a number of competitions during the Money Week. They are the PénzOkosKupa (team competition for students at ages 12-14, and 577 teams registered), BankCode (organised together with Money Museum (Central Bank), team competition for students at ages 14-18, 380 teams registered, and Stock Market Race (organised with Budapest Stock Exchange, individual four-week long competition), a virtual investment race with virtual money which saw as winner the team whose portfolio increased the most.

MCF has also released an online financial “Escape room” for individual players. Students had an opportunity to learn all about savings accounts, credit and debit cards, and the importance of credit score, jobs and taxes for teens in this discounted financial literacy bundle that includes culminating Escape Room activities that can be done digitally.

Another successful programme of the Week was the Innovation Day, where teams of entrepreneurial young people (4-5 people) had the opportunity to offer their own solution to a real social, business problems or challenges. During the Day, company professionals supported and advised students in developing their ideas. Due to the pandemic, these competitions were held online where ten teams tested their knowledge and creativity at the same time.

The Digital Security Quiz Competition was held. Modern payment methods, PIN and password protection and other related issues were the topics of the competition developed by the Hungarian Banking Association and its partners. Students between the ages of 10-14 and 15-21 entered the online contest to test their cybersecurity abilities.

As part of the European Money Week organised by the European Banking Federation, the European Money Quiz took place in over 30 countries. Hungarian youth participated and tested their financial literacy knowledge. The organisers of Money Week also created questions and tasks for students dealing with financial literacy, digital payment and security, the use of money and the related mathematical foundations.

The Ministry of Finance launched the pocket money calculator “ZsetON” tailored to the needs of young people. This free online calculator helps them take control of their money by registering their expenditures and revenues in relevant categories and providing them with useful saving tips.

FINTELLIGENCE International Scientific and Practical Online Conference focused on the link between FinTech and financial literacy. 425 participants from nine countries took part in this challenge.

2019 Hungary Global Money Week

LEADING ORGANISATIONS:

  • Ministry of Human Capacities, Ministry of Finance, Ministry for Innovation and Technology, Money Compass Foundation (The Central Bank of Hungary), Hungarian Banking Association, Junior Achievement Hungary

PARTICIPATING ORGANISATIONS:

  • 15 Media Organisations, 170 Financial Institutions, 429 High Schools, 899 Primary Schools, Budapest Bank Group, Budapest Stock Exchange Ltd., CIB Group /Bank of Intesa Sanpaolo Group, Cofidis Bank Ltd., Commerzbank, ERSTE Bank Hungary Ltd., EXIM Bank Ltd., FHB Group, Fundamenta Ltd., GRÁNIT Bank Ltd., K&H Group, MagNet Bank Ltd., Magyar Cetelem Bank Ltd. / BNP Paribas Personal Finance, MKB Bank Ltd., Money Compass Foundation, OTP Bank Plc., Raiffeisen Bank Ltd., Sperbank Ltd., UniCredit Bank Hungary Ltd., University of Miskolc, University of Pécs

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 220 000

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 605 000

Ministry of Human Capacities
Hungary celebrated the Week in order to encourage young people to handle their finances more consciously and to become more familiar with the way the economy and the financial world function. The Government tried to achieve this goal by organising approximately 14,000 lessons on the subjects of finances and entrepreneurship for primary and secondary school children. The teachers of the schools were provided with the necessary materials to join the initiative. The teaching materials were developed by the teachers, with interactive methodological elements added for four different age groups (grades 3-4, 5-6, 7-8 and 9-11). The highlighted content of this year involved savings and investments. Over 700 representatives from different banks and enterprises volunteered. Aside from the lessons, other activities were also organised throughout the Week. This included an online Stock Exchange game and different contests and quizzes for different age groups.

2018 Hungary Global Money Week

LEADING ORGANISATIONS:

  • Ministry of Human Capacities, Ministry for National Economy, Money Compass Foundation, Central Bank of Hungary, Hungarian Banking Association, Junior Achievement Hungary

PARTICIPATING ORGANISATIONS:

  • BNP Paribas Personal Finance, Budapest Bank, Budapest Stock Exchange Ltd, CIB Intesa Sanpaolo, ERSTE Bank Hungary Zrt, FHB, Fundamenta Lakáskassza, K&H, MagNet Magyar Közösségi Bank, Magyar Cetelem Bank, Magyar Fejlesztési Bank, Magyar Közgazdasági Társaság, Magyar Takarékszövetkezeti Bank, MKB Bank Zrt, OTP Bank, OTP Fáy Foundation, Raiffeisen Bank Zrt, UniCredit Bank Hungary Zrt, University of Miskolc, 1,262 schools, 16 media companies, 76 corporate companies

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 218 000

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 500 000

Ministry of Human Capacities
The number of participants in Hungary’s GMW celebrations significantly increased since GMW2017. During the Week, more than 200,000 students attended 14,700 classes on smart borrowing and entrepreneurship. This year, much of the content was converted into digital form, making the short videos, e-learning materials, webinars available to even more students and teachers. Hungary’s GMW2018 Opening Ceremony was held at the Ministry for National Economy. In addition to the speeches delivered by the organisers, a performance by young students was also part of the programme. Simultaneously, lessons on finance and economy were given across the country improving students’ financial literacy. This year, the topics covered in the programme of events expanded to include entrepreneurship. As a result, in addition to smart ‘borrowing’, sessions on developing entrepreneurial skills and experience-based introductions of entrepreneurship also took place in schools. The programme series focused on lessons about finance in primary and secondary schools across Hungary. The organisers of the Week provided the necessary resources for the participating schools. The 1700 teachers that signed up will give a total of 14,670 lessons in the subject of finance and/or entrepreneurship to 203,726 students. The teaching materials were developed by teachers, with interactive elements added for three age groups across grades 5 to 11. Volunteers from banks and enterprises attended the lessons to offer experience examples to the students. In addition to the classroom-based events, several additional events were held throughout the Week. Firstly, an online Stock Exchange game, designed in cooperation with the Budapest Stock Exchange, introduced students to the secrets of the stock exchange. A select group of students also had the opportunity to visit the Stock Exchange itself. The PontVelem Kft organised the BanVelem competition, a competition centered around the theme of finance. The best nine teams will compete in the finals in front of a prestigious jury. The winners will be rewarded with the PénzOkos Cup in 2018. University students had the opportunity to participate in an all-day professional programme in addition to a conference at the University of Miskolc. Although GMW is held in March, celebrations in Hungary continue throughout the spring. Since the pilot was launched in 2015, more and more students, teachers and schools have learnt about the event series year by year and, based on feedback, the campaigns visibility and recognition is increasing.

2017 Hungary Global Money Week

LEADING ORGANISATIONS:

PARTICIPATING ORGANISATIONS:

    Corporate companies:
  • 68
    University:
  • University of Miskolc
    Schools:
  • Primary schools: 721
  • High schools: 370

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 166 048

In 2017 Hungary celebrated its national money week for the first time within the framework and in coordination of the Global Money Week. The objective of Pénz7 is to encourage young people to handle their financial affairs more consciously, and to be more familiar with the way the economy and the financial world function. The programme is supported by ministries and financial market participants.

This year, the financial subjects of the programme were expanded by the topics connected to entrepreneurship. As a result, in addition to smart ‘banking’, which is the financial topic of the year 2017, entrepreneurs’ competence development and the experience-based introduction of entrepreneurship were also emphasized in the Week’s activities. Most of the activities of the programme included a series of lessons on the subject of finance in numerous primary and secondary schools in Hungary. The teaching materials were developed by teachers, with interactive methodological elements for three age groups (grades 5-6, 7-8 and 9-11). The lesson plans, video clips developed during the preparation phase and the preparation session offered further aid to teachers and volunteers. The highlighted content elements of this year were cash handling and the use of a bank account, as well as familiarising the age group with the available facilities.

The opening ceremony was held at the compelling building of the Ministry for National Economy on 6 March 2017. Apart from the speeches delivered by the organisers, a performance by young students was also part of the programme. At the same time of the opening event, lessons on finance and economy were given across the country improving students’ financial literacy.

Moreover, numerous side-events were held, including an online Stock Exchange game that introduced the students to the secrets of the stock exchange, in cooperation with the Budapest Stock Exchange. Organised by the PontVelem Kft, the finals of the BanVelem competition showed who will be awarded with the PénzOkos Cup in 2017. University of Miskolc also held an all-day professional programme as well as a conference.

More than 11 000 events were conducted throughout the Week in Hungary, reaching more than 166 000 children through primary and secondary schools all over the country.

2016 Hungary Global Money Week

LEADING ORGANISATIONS:

  • Budapest II. Kerületi II. Rákóczi Ferenc Gimnázium (II. Rakoczi Ferenc Secondary School

DATE OF THE EVENT:

  • 14th - 20th of March

TOTAL NUMBER OF CHILDREN AND YOUTH ENGAGED:

  • 1 000

TOTAL INDIRECT REACHED:

  • 550

This year, II. Rakoczi Ferenc Secondary School in Budapest had a topic-based programme for GMW. This included a number of topic-related lessons held by teachers exploring themes such as the history of money in different countries, budgeting and saving money, countries of the Eurozone, the financial crisis, financial policies of the EU, the theme of money in songs, the costs of living in various countries, strategic planning in entrepreneurship and more. The science department decided to have lessons about the importance of saving water, as World Water Day was also very close. Mathematics teachers held financial quizzes in eight different classes and an art competition was held in eight classes where students had to design future Hungarian Euro banknotes as well as an essay competition in four classes about the individual responsibility of people in combating climate change by saving energy and water. The Physics department organised its annual visit to Paks Nuclear Power Plant during GMW, so that students could learn more about nuclear energy, too.

Some parents were also involved in the GMW event. There were four financial education lectures held by volunteering parents, including: a broker, who shared his experiences of getting where he is today; a banker, who answered students’ questions about every-day money matters; an economist, who regularly visits high schools with his lecture on basic concepts of economics, finance and entrepreneurship; an environmentalist, who held an interactive lesson in English about environment protection.

The week was preceded by a traditional Students’ Day held on 05 March 2016, where a cake-baking competition was organised to prepare for GMW with the theme being ‘money’.

2015 Hungary Global Money Week

PARTICIPANTS:

DATE OF THE EVENT:

  • 9th - 13th of March

Hungary joined the Global and European Money Week this year under coordination of the Money Compass Foundation (Pénziránytű Alapítvány), which was founded by the National Bank of Hungary. Many primary and secondary schools in the country were provided with informative learning materials on topics of financial literacy. Ministry of Human Capacities of Hungary contributed towards the organising of the week.

Foundation for Stock Brokers’ Training (Közép-európai Brókerképző Alapítvány) promoted information about Global Money Week to more than 170 schools in Hungary. Some schools also organised various events for their students during the week. For example, the II. Rakoczi Ferenc Secondary School organised a number of creative and exciting activities for their students. They conducted an Ethical Entrepreneurship class on raising funds and writing tenders for the development of school equipment and buildings. This was to support the school’s initiative to raise funds for their sports field. In the English class, a creative writing session was held around the topic of environment protection and savings, the theme for this year’s Global Money Week celebrations. Money and finances were the topics in the Spanish class preparing students not only for their language exams but also for everyday life situations. In another Ethical Entrepreneurship class, an entrepreneur gave a presentation on ‘Developing sustainable competitive advantages’.

2013 Hungary Global Money Week

PARTICIPANTS:

DATE OF THE EVENT:

  • 18th of March

The Hungarian National Bank joined the global celebrations with a special financial-economic programme day. Secondary class students were invited into the Central Bank where children and youth had the opportunity to participate on a learning through activity course – drama in education – and also could listen to presentations like the safety marks of the Hungarian bank notes, and about the ”invisible” money.

Children had the chance to visit the Visitor center at the Hungarian National Bank which is the home of interactive exhibits about Hungarian notes and coins, the background of the central bank and the history of money.

Other students were able to follow the event through webcast on the Pénzbook – facebook site and on the microsite: www.penziranytu.hu.

Cookie Policy

We use cookies to give you the best online experience. By using our website you agree to our use of cookies in accordance with our Privacy Statement & Cookies Statement. Learn more

I AGREE