• FIT comes with a 360-degree learning experience.
• One in two Romanians believe they know a lot or more about money than the average adult in Romania, according to Eurobarometer.
• Respondents to the Generation Z study, conducted for Banca Transilvania, say their main problem is their financial situation.

Banca Transilvania is launching FIT – Finance Explained for Everyone, a national financial education program designed to build a solid foundation in money management for Generations Alpha, Z and Y.

FIT covers key financial concepts and is tailored for children and young people aged 7 to 20+. The learning experience is 360: online, via a multimedia, interactive and animated platform; through in-branch materials; and through the involvement of the BT team in educational institutions across 180 localities where the bank is present.

The bank aims to turn FIT into the largest national financial education program and to help narrow Romania’s gap with the European Union in terms of financial education and inclusion.

What the studies show

• Eurobarometer (2023), a European Commission survey measuring financial literacy knowledge and skills, shows that Romanians rank last in the EU for financial knowledge but first for self-perception, with one in two Romanians believing they know a lot or more about money than the average adult in Romania. The same study shows that, when faced with straightforward questions on topics such as inflation, interest rates or investments, 30% of Romanians answered at most one question correctly, 57% answered two or at most three, and 13% gave four or five correct answers. Romania ranked last in the European Union by financial knowledge score.
• The Generation Z study, conducted by Quantix for Banca Transilvania (2023), shows that young respondents — aged 18 to 26 — consider their financial situation to be their main problem. 54% say they save, and over 42% keep track of income and expenses.

Over 300,000 children and young people under 18 have an account with Banca Transilvania.