MIL-OSI Russia: Territory of reasonable decisions: how Muscovites are helped to improve their financial literacy

Translation. Region: Russian Federal

Source: Moscow Government – Government of Moscow –

The popularity of educational projects on financial literacy is growing in the capital. Master classes, games, quizzes, film lectures and other interactive activities help city residents of all ages understand financial issues. The events are held by the capital’s Department of Finance together with the financial literacy center and partners.

“We talk to Muscovites about finances where it is convenient for them and in a way that interests them: in schools and universities, libraries, festivals and parks. In 2024 alone, over 560 events of various formats were held in the capital. And this year there will be even more. It is important that Muscovites receive not only new knowledge, but also practical skills: they learn to handle money wisely and make thoughtful financial decisions,” she noted.

Elena Zyabbarova, Minister of the Moscow Government, head of the capital’s Department of Finance.

The meetings go beyond the usual spaces and are already becoming part of the urban environment. Thus, this summer, financial literacy days were held at the Northern and Southern river terminals – these are new city platforms for such conversations.

Another major event is Festival of financial literacy and entrepreneurial culture in Moscow. It has been held since 2017 by the capital’s departments of finance, education and science, as well as the Bank of Russia, and has become a traditional city educational event for city residents of all ages who want to improve their level of financial literacy and learn the basics of entrepreneurship. Last year, the festival lasted a whole week and covered more than 200 sites, including the Moscow Center for Education Quality, schools, colleges, universities, Moscow Longevity Centers, My Work and My Career employment centers, libraries and the Digital Business Space. More than 500 thousand people took part in online and offline events. This coming autumn, the festival will return with a rich program.

Classes to improve financial literacy are integrated into major events and festivals, including Biblionight, Night at the Museum, and Red Square. Most often, city residents are interested in how to avoid being scammed, invest, and plan their personal budget.

Modern formats make such events more lively and exciting. In 2024, a financial stand-up and a VR simulator appeared, with the help of which you can practice your personal finance management skills.

Financial Literacy in Libraries

For more than two years now, thematic meetings have been held for residents of the capital near their homes. As part of the project “ABCs of Financial Literacy”, which covers all age groups, lectures, business games, film lectures and other events are organized in Moscow libraries.

City residents discuss familiar life situations with experts, including how to plan a family budget, what to consider when applying for a loan, and how not to become a victim of fraudsters. Event announcements can be found on social networks and city library websites.

Name for the project Muscovites themselves chose. More than 170 thousand people took part in the voting on the Active Citizen platform.

Financial Literacy in Film

One of the most original formats is film lectures in Moscow cinemas. This is an unusual way to involve city residents in managing their personal finances, even if they have not been seriously interested in this before.

Together with experts, viewers watch famous Soviet and Russian films, including “Courier”, “Moneychangers”, “Russian Money”, “Domovoy”, “Family Budget”. And then they analyze the behavior of the characters from the point of view of financial literacy: what went wrong, and could it have been done differently?

Soviet films raise topics that remain relevant today, they are simply presented through the prism of modern realities. For example, the film “Beware of the Car” raises questions about car insurance.

The project is being implemented with the support of the Moskino cinema chain and Department of Culture of Moscow.

Financial Literacy at Work

The rhythm of the metropolis does not always leave time for self-education, so a project for financial education of employees of work collectives has appeared in Moscow. Organizations can invite experts to conduct lectures and master classes directly at workplaces – offline or online. All events are free, and the topic can be chosen depending on the request of employees.

The focus is most often on cybersecurity, personal budget management, consumer protection, investment basics, taxation and lending. Listeners can choose from interactive lectures, master classes, financial quizzes and case studies.

You can determine the topic, format and time of classes, as well as sign up for the waiting list by link.

Financial Literacy for Children and Youth

The upbringing of a financially literate person begins at an early age. Thematic classes and events with elements of financial literacy are organized by Department of Education and Science of the City of MoscowIn addition, children can take part in Olympiads and quizzes, quizzes and quests, meet with representatives of large Russian companies and attend lessons taught by representatives of the Federal Financial Monitoring Service (Rosfinmonitoring).

The capital’s Department of Finance is implementing several projects on financial literacy for children and young people. Kindergartens regularly host events for preschoolers, schools host open lessons on financial and budget literacy, and children’s city camps host interactive classes during the holidays. Starting this year, they can be visited not only in the summer, but also in the spring and fall. Primary school students will learn about the origin of funds, rules for financial security and rational purchases, and will also create a model of their bank card and take part in a quiz.

Experts can also be invited to colleges and universities. Heads of educational institutions choose what will really interest students, including quizzes, educational lectures or cartoons on financial topics. Questions related to budget planning, the history of money, financial security and lending remain popular with young people. You can send an application to link.

Separate tracks for children’s audiences were also provided at citywide events. While adults listen to lectures on smart family budget planning, children can play the tactile game “Guess What?”, analyze the financial behavior of popular cartoon characters, or take part in the quiz “Secrets of Financial Security.”

Financial Literacy for the Older Generation

Older city residents actively participate in educational events with experts, which take place in Moscow longevity centers, libraries and other venues, as well as at major festivals. Muscovites of the “silver” age learn how to make purchases on the Internet, protect personal data and avoid spontaneous spending.

Experts also talk about aspects of inheritance law in Russia, forms of wills and the specifics of drafting them. It is important that listeners can get answers to their questions on the spot and analyze their personal financial situations.

In addition, the Moscow Longevity project offers regular classes on financial and legal literacy. The course programs are designed to take into account the interests of the older audience. You can find out more at the Moscow Longevity Centers and on the portal Mos.ru.

Financial Literacy for People with Disabilities

Special attention is paid to financial education of citizens with disabilities. Muscovites with visual impairments will be able to attend lectures at the Russian State Library for the Blind and listen to educational programs recorded by the Department of Finance on Internet radio. People with hearing impairments have the opportunity to access educational videos with sign language interpretation. This allows us to cover all segments of the population and create a truly inclusive educational environment.

Tax deductions and banking products: Moscow launches financial literacy project for the visually impairedMoscow projects to improve financial literacy are recognized as the best in Russia

Financial literacy in new formats

Technology is an important component of educational formats. In 2024, an updated version of the financial checkup was presented – an online test that helps assess your knowledge. More than 4.3 thousand people took it. This can be done at any time by linkBy answering a few questions, everyone will find out their level of financial literacy and receive personal recommendations and links to useful materials for further self-education.

The VR simulator is no less popular. Participants get the opportunity to immerse themselves in a virtual space, where they try themselves in the role of a tax consultant or bank employee and make important decisions on loans and tax deductions. You can practice budget management skills at the events of the Department of Finance.

Economically active Muscovites have a high level of financial literacy

Financial Literacy Online

Those who prefer to study remotely can also easily find the necessary information. Useful materials, event announcements and links are published on the portal “Open Budget of the City of Moscow” and in the same name telegram channel.

Budget literacy

Budget literacy projects are also being developed in Moscow. One example is the “Budget for Citizens” competition. The participants are mainly schoolchildren and students. They make guidebooks, draw comics, brochures and posters, develop educational websites, create educational videos and cartoons, and come up with business, board and computer games.

The organizers analyze the competition entries and try to take into account useful suggestions. The most interesting ideas are implemented in educational projects. Department of FinanceThe works of the winners of the capital competition are also highly valued at the federal level.

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