We live more and more in the virtual world, but the threats to our security and our money are all real. Almost everyday we hear about online "attacks" and the consequences of them. The problem is really serious: according to Simantec (2012), an online security company, 2/3 of people (computer users) have been subjected to cyber attacks. It's a billions of dollars business. The figures show that the "stolen" sums in China alone amount to $ 46 billion, US $ 21 billion, the EU $ 16 billion.

The Financial Literacy Initiative Foundation is planning to run a series of trainings on "How to prevent financial fraud online", during which we will present the most common methods of cyber attacks, who is behind them and what are the methods of prevention.

Inquiries and subscription for training:

Kids Financial Workshops “About Money And Other Important Things In Life: First Steps”
Kids Financial Workshops “About Money And Other Important Things In Life: First Steps”


We all want our children to become happy, successful and good people. Therefore, it is important to start early and in small steps with the development of skills to help them navigate seamlessly in the future. Our program is aimed at mastering key social and financial competencies among children (5-10 years), building qualities such as initiative and entrepreneurship as well as developing emotional intelligence and personal motivation. The program is implemented with the support of NN Bulgaria.

The program addresses topics such as self-awareness, role and place of the individual in the family and community, initial financial and economic literacy.. The program is aimed at building qualities such as initiative and entrepreneurship as well as to development of emotional intelligence and personal motivation. Its implementation supports the development of 21st century skills - critical thinking, teamwork skills, presentation skills, communication and creativity. The Program Implementation Guide contains 10 lessons (with tutorials), active play scenarios and theater scenarios.


Financial Literacy Initiative Foundation annouces number of activities to celebrate the Global Money Week.  See more in Bulgarian.

More About Global Money Week

Theme: ‘Learn.Save.Earn.’ | 27 March - 2 April 2017


What is Global Money Week (GMW)?

GMW is an annual global celebration, initiated by Child & Youth Finance International (CYFI), with local and regional events and activities aimed at inspiring children and youth to learn about money, saving, creating livelihoods, gaining employment and becoming an entrepreneur.


What is the theme of Global Money Week 2017?

GMW2017’s theme: ‘Learn.Save.Earn.’

  • Learn: Educating children and young people about their social and economic rights and responsibilities is key to creating a generation of capable adults who can make wise decisions for their future
  • Save: It is important for children and youth to build clever savings habits from an early age in order to cultivate key money-managing skills for later in life
  • Earn: Developing livelihoods skills or receiving entrepreneurial training supports children and young people with getting a job or building their own business and developing their careers.


When is Global Money Week?

Global Money Week (GMW) is held in March each year. This year GMW will take place from 27 March - 2 April 2017.


GMW growth

GMW 2016 involved more than 7 million children and youth participants in 132 countries! Previous Global Money Weeks have reached:

  • 2016 – 7 million children & youth, 132 countries, 13,950 organizations, over 33,278 activities;
  • 2015 – 5.6 million children & youth, 124 countries, 962 organizations, over 3000 activities;
  • 2014 – 3 million children & youth, 118 countries, 490 organizations, over 2000 activities;
  • 2013 – 1 million children & youth, 80 countries, 400 organizations;
  • 2012 – 33 000 children & youth, 21 countries (Child Finance Day/Week).


Where is GMW happening?

Everywhere. GMW is an international Week, with many events, activities, projects, launches and competitions taking place in over 130 countries.


Who can get involved in GMW?

Anybody. Anywhere. Anytime - can get involved in GMW. Whether you are a student, employee, parent or guardian. Whether you are from an educational institution, financial authority, NGO, government institution, company, or community organization.

Financial Workshops “About The Money And Other Important Things In Life”
Financial Workshops “About The Money And Other Important Things In Life”

The project “About The Money And Other Important Things In Life” is implemented by the Financial Literacy Initiative Foundation with the support of NN Bulgaria.

- One of a kind manual containing 25 financial workshops on 10 topics has been developed.

- Teachers wishing to use the manual have the opportunity to undergo training.

- The manual is free of charge and is distributed in both paper and electronic versions. It is published on this site and on the resource site -


See our short video demonstrating how the workshops "work".


More information about the financial workshops


It has been developed 25 workshops on 10 themes 


- The themes

They cover the most important aspects of managing personal finance - budget, borrowing, investments, risk management, pension insurance. And not only! Included are topics like  youth further education, first job,  travel abroad. There is one dedicated to the exciting every young person questions about love and friendship.

In each of the 10 themes was developed  an informational material, glossary and 2 or 3 workshops.


- The  workshops

They represent scenarios with information and instructions for conducting the relevant activity/game.  Auxiliary materials that can easily be copied and used are attached to each workshop.


Who are  the financial management workshops for?

For teachers and facilitators working with students from top high school - 9 12th grade.


Who are the authors of the workshops?

Let me first say who they are  not! They are not professors of finance, closed their offices  and creating  complex theories far away from the classroom.

The team of authors includes professional practitioners from different fields. It includes certified financial consultants, specialists in public relations, financial journalist, trainer of personal and social skills. And what is most important - wonderful and inspired teachers! So it's fair to say that the workshops were created by teachers for teachers!


What is Global Money Week (GMW)?

GMW is a global celebration, initiated by Child & Youth FinanceInternational, with local and regional events and activities aimedat inspiring children and youth to learn about money, saving,creating livelihoods, gaining employment and becoming anentrepreneur.

Financial literacy Initiative Foundation is a partner in the Global network of CYFI and  actively promotes and facilitates the activities with the Global Money Week 2016 in Bulgaria.

What is the goal of GMW?

The goal is to raise awareness of financial education, teachchildren and youth about money matters through fun andinteractive activities.

What  activities have been planned by the Financial Literacy Initiative Foundation (FLI)  for the Global Money Week?

FLI has developed lessons plans for young children that can be used by teachers and trainers. They promote topics like “Why to save”, “How to save smart?” and envisages range of interesting activities. The lessons plans are free to use by teachers and trainers.

FLI provides contacts between the financial business and youth, and helps in organization of open lessons, discussions, etc.

FLI issued a brochure “How To Raise Financially Smart Kid”, available in pdf format.

All the events will be featured in our site:  www. 

Do you want to participate?

Please, contact FLI team:




119 School  “Prof. Michail Arnaudov”, Sofia

Primary School “Sofroni Vrachanski”, Vratza

12 School "Ivan Assen", Sofia

139 School "Zahari Krusha", Sofia

 Economic Faculty of Sofia University "Climent Ohridski"





BG Financial Literacy Map
BG Financial Literacy Map


Financial literacy is a factor for prosperity - individual and public.  This is why it is so important to find ways to increase the effectiveness of the educational interventions aimed to increase its level. Some of the most important steps are to increase the level of cooperation among all stakeholders and to ensure easy public access to information and educational resources.

These are the objectives and consequently the achievements of the project "BG Map of Financial Literacy".  It was implemented by the Financial Literacy Foundation and and funded the NGO program in Bulgaria under the Financial Mechanism of the European Economic Area. 




1. New data base website

It contains extensive data base of all BG resources in the area of financial literacy. The data base is organized in a manner so it is easy for people to find the resource they need or look for. The objective is increase the usability of resources and hence the scale of the impact. The database includes more than 100 resources - information and educational resources, programs and initiatives, educational materials, etc. In order to facilitate consumers search criteria are provided – like type of resource; by whom is implemented; to what target group is addressed; are there restrictions on access to resources. Brief description of each resource  is available along with contact details.

The website is an effective channel for announcing new initiatives as well as to identify potential partnerships.


2. Your personal financial score: Educational Quiz “Money and Me"

It is incorporated into website The test consists of 20 questions from different areas of personal finance: budget, loans, savings and investments, risk management. The test is unique diagnostic tool given the various results – total of 4 - you get as an outcome. First result measures level of financial literacy and gives you result as it is in school – from A to D (in Bulgaria from 2 to 6).  Second result gives scores on personal knowledge by areas. Third result compares personal knowledge to the financial behavior, and the forth results allows the person to make a comparison between the level of his financial literacy and those of all Bulgarians (using the nationally representative survey of financial literacy in Bulgaria, World Bank, 2010.

The quiz also contains extensive educational part with financial advice attached to every question, including some videos.  


3. Еducational videos "Your Money In 30 Seconds"

They are incorporated in the educational part of the quiz "Money and Me" and provide information on four essential for the management of personal finance topics.

Video "Budget 10-30-60"

Video "Pay yourself first"

Video "3 directions for your savings"

Video "3 defensive lines about your finances"


White Paper on financial literacy in Bulgaria

The White Paper contains information on best practices around the world and in the European Union, but the focus is on developments in Bulgaria - described and classified are existing country initiatives in the field of financial literacy. On this basis are outlined recommendations for future interventions. Such a "mapping" has not been  not done  before and can bevery  beneficial for institutions, developing and planning to develop activities in the field and in policy formation. In reality, the analysis could serve as a basis for developing a national strategy in the field of financial literacy. The analysis is published in the list of resources on the site


Financial Literacy Network

Within the project, a network of representatives of more than 44 institutions and organizations from different sectors of public life -state institutions, NGOs, business, academia, media. They all support the idea that it is necessary to stimulate even more active dialogue among stakeholders and to work toward development of national strategy in the area of financial literacy. The network is open character and will continue its operation after completion of the project.

A Minute!Finance
A Minute!Finance

You want to know more about personal finance management, BUT you don’t have time and you think it’s too complicated and boring? If this is the case “A Minute!Finance” is what you need! The short 1 minute videos will take you to a journey around the world of personal finance, making it easy and fun. 

The project “A Minute!Finance” is realized by Financial Literacy Initiative Foundation and the educational site The main idea of the project is to present the personal finance topics in attractive and engaging way – short one-minute videos. The topics include areas like budgeting, saving and investing. Here is the link to all the videos.

Website for Financial Education -
Website for Financial Education -

This is a joint project between the Financial Literacy Initiative Foundation and Provident Financial Bulgaria for the development of specialized financial education website:


The project is implemented by the Financial Literacy Initiative Foundationq the only NGO in Bulgaria that focuses on  financial literacy, and Provident Financial Bulgaria, which is part of International Parsanal Finance (IPF), a leading international provider of consumer credit, listed on the London stock Exchange and one of Britain's biggest employers in Central and Eastern Europe with more than 2.6 million customers worldwide.


Project “Say No to the Debt, Say Yes to the Money”
 Project “Say No to the Debt, Say Yes to the Money”

An unique national scale program “ Say No to the debt, Say Yes to the Money” started on April 15, 2014. The program gives opportunity to everyone who wants to improve his personal finance knowledge to attend free one-day seminars.  Anyone who wants to attend can register for the training by calling the national telephone line:  0700 20 240.


The program is realized by Financial Literacy Initiative Foundation, the only Bulgarian NGO focusing on financial education, and EasyCredit, leading Bulgarian company in the area of non-banking consumer loans. 


The training program was developed by the Financial Literacy Initiative Foundation. It covers the following topics: personal budget, credit and management of credit indebtedness, investments, savings and insurance.  The program is informative and entertaining at the same time – it envisages games, tests, movies.


The program will be delivered by 12 specially trained for the purpose professional trainers.  On April 15, 2014 experts from Financial Literacy Initiative Foundation  held the first training of trainers. 


It is planned  at least 300 adult Bulgarian citizens from 11 cities to attend the seminar  in a period of one year. 

Project “Technical Assistance to the Insurance Supervision Agency of Montenegro” under the terms of the service contract FWC Beneficiaries 2009 – Lot 10
Project “Technical Assistance to the Insurance Supervision Agency of Montenegro” under the terms of the service contract FWC Beneficiaries 2009 – Lot 10



FLI was chosen to be a subcontractor responsible for the delivery of the project outputs and their quality due to our team extensive project management background, previous experience with projects management in the Western Balkans and outstanding skill of our experts. The proposal, prepared by FLI, which included Project implementation methodology and the experts CVs, won against all competitors. As a result, the execution of all technical assistance actions was delegated to FLY by SOFRECO, well established French consulting firm, part of the winning consortium. 


The beneficiary is the Insurance Supervision Agency of Montenegro and the contractor is the European Union Delegation in Montenegro.


The project started in November 2013 and during its 8-months term FLY undertook to:

  • Evaluate the insurance legislation in force in Montenegro and the existing supervisory practices concerning financial supervision and reporting requirements;
  • Train and provide practical support to Beneficiary’s staff on:


  1. General objectives and essence of financial analysis.
  2. Financial analyses in insurance:


  • Provide Manual and guidelines for financial analyses of insurers, including on-site and off-site financial supervision
  • Train and provide practical support to Beneficiary’s staff on:


  1. Basic principles of corporate governance.
  2. Internal control system of insurer (corporate governance) – environment (written strategies, policies and procedures), communication, control.
    1. Key functions – risk management, actuarial, compliance and internal audit
  • Provide guidelines concerning the basic principles of system of governance (corporate governance) and for the requirements concerning the key functions that are part of the system of governance
  • Train and provide practical support to Beneficiary’s staff on:


  1. Introduction to risk management of insurer;
  2. Basic concept of risk based supervision:


-          risk categories and risk exposures – quantitative and  qualitative evaluation of risks;

-          risk profile and risk appetite.


  • Provide manual and guidelines on risk based supervision in line with Solvency II Project
  • Prepare Strategy for further capacity building of the Insurance Supervision Agency of Montenegro in order to bring its activities in line with the EU best practice and EIOPA guidelines and recommendations.