Students from 1st to 12th grade will start having financial literacy in Porto.

Schools in Porto will start having a financial literacy subject.

According to ECO, students from 1st to 12th grade in Porto schools will now have a financial literacy subject.

The initiative comes from the Porto City Council and aims to implement a financial literacy subject in schools throughout the municipality, covering students from 1st to 12th grade.

The announcement was made by Ricardo Valente, Economy councilor, at the opening session of the 3rd National Insurance Forum, aiming to provide young people with tools for life.

"We are going to implement for the first time in the city a municipal financial literacy program for the children of the city, so that, from the 1st year, they have a discipline that will accompany them from 6 to 18 years old," as mentioned on the website, quoting Ricardo Valente. The goal of the measure is for students to "understand why they should think about their retirement early with a pension plan, or what an accident insurance is," or even a financial budget, it also reads.

In order to fill a gap in the community, the solution presented will empower the younger generation in the financial area, as currently, "people are not taught from a young age about what financial literacy is," the councilor is also cited.

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