Debit cards designed for students? How one school is leading the way in financial education for young people
The lack of financial literacy in Greece is a very important problem that affects all age groups, but especially young people. In scientific research and studies, less than 1 in 3 adolescents manage to reach the internationally recognized threshold of financial literacy. The implications are multi-level and extend to personal, social and economic levels. Frequent outcomes include inability to manage budgets, fear of financial matters and very low savings rates. At the same time, the digital world and social media are increasingly projecting a culture of consumption among young people, creating even more pressure on their daily lives.
A pioneering school, partnering with a Greek startup
Avgoulea-Linardatou schools, demonstrating once again their pioneering approach to education, announces their partnership with Woli, an innovative startup specializing in financial education for young people. This partnership aims to fill a critical gap in the educational process, enhancing students’ financial literacy and preparing them for the economic challenges of the future.
An experiential approach to economic education
Woli, through the mobile app and the Woli debit card, offers an interactive and experiential way for children to learn the proper use of money. The service helps students develop skills such as budgeting, saving and investing. In this way, Avgοulea-Linardatou Schools provides students with the tools they need to make responsible financial decisions from an early age.
Beyond the Classroom: Solutions to Practical Problems
But the partnership with Woli is not limited to enhancing educational content. The platform also offers solutions to operational problems that schools face, such as cash management. By rewarding the use of the Woli debit card, the school can greatly simplify payments in the cafeteria, reducing queues at break times, and making it easier to coordinate extracurricular activities. At the same time, the risk of lost or stolen cash is significantly reduced.
Looking to the future
This partnership is the first of its kind, where a school’s educational efforts are framed and enhanced by digital, experiential technologies that help children and the whole family build good habits around financial management. Woli’s goal is to expand similar partnerships with educational organizations so that more children have the right tools at their fingertips early on.
Elli Linardatou, the school’s partnerships manager, said:
We are delighted to announce the partnership between Avguleas-Linardatou Schools and Woli. The Woli app is not just a money management tool, but also an educational consultant. Through the app, children learn basic financial concepts such as budgeting, saving and responsible spending. In addition, the app provides interactive activities and quizzes that enhance children’s financial literacy.
Vassilis Zoupas, CEO of Woli added:
We are very happy to launch the Woli for Schools program with an innovative and pioneering organization like Avguleas – Linardatou Schools. The partnership has 2 objectives. One is to help children increase their financial literacy and savings skills, alongside their school lessons, through the Woli app. The second, which we hope in the process will also emerge as a significant impact in school, is to reduce the use of cash in school and improve the school’s payment operations to make things simpler and more digital, just like modern life.
