BAFI - Basic Financial Literacy for Social, Economic and VET Inclusion
(opens in a new tab)BAFI empowers VET learners with practical financial literacy skills — from income and taxation to loans and insurance. A European project building real-life tools for a more inclusive and autonomous future.
eeds vs Wants: A simple way to understand your spending choices
Many people know this feeling: Your income goes up, but somehow your money still does not seem to last longer.
This can happen because spending often grows with income: a new habit here, a small upgrade there, more subscriptions, more takeaway food, more going out — and suddenly, the extra money is already gone.
One simple step can help: track your expenses and mark whether they are needs or wants.
This can make it easier to reflect on your choices and make more conscious financial decisions next month.
🌐 www.bafi-project.eu
#BAFI #financialliteracy #financialeducation #vet #vocationaleducationandtraining #ErasmusPlus #inclusion #YouthSkills #lifeskills
Gross or net? Do you really know what you earn?
Your first payslip can feel like a puzzle 🧩: taxes, contributions, deductions… and a final number that's smaller than expected!
Here's the key:
💼 Gross = your total pay before deductions
➖ Deductions = income tax and social contributions
✅ Net = what you actually take home, and the number to plan your budget with
Checking your payslip every month helps you spot mistakes and understand exactly where your money goes. 🔍
📚 That's what BAFI's Module 1 on Income is all about: practical financial skills for young people and VET learners.
👉 Have you ever been surprised by your payslip? Tell us in the comments!
🌐 www.bafi-project.eu
#BAFI #FinancialLiteracy #FinancialEducation #VET #VocationalEducationAndTraining #ErasmusPlus #Inclusion #YouthSkills #LifeSkills
🚨 Too good to be true? It probably is.
“Congratulations – you’ve won!”
“Your account will be blocked.”
“Click here to get your refund.”
“Send €20 now and get €200 back.”
Online scams are becoming harder to spot, and young people are increasingly targeted through social media, messages, fake shops and phishing links.
A few simple habits can protect your money:
🔗 Don’t click on suspicious links
🔐 Never share passwords or banking codes
🛍️ Check online shops before buying
💬 Be careful when someone pressures you to act quickly
💸 Never send money just because someone promises a bigger return
✅ When in doubt, stop and check first
Scammers often try to create urgency, fear or excitement so you act before thinking.
Financial literacy also means knowing how to protect your money 💡
Think.
Check.
Then click.
#BAFI #FinancialLiteracy #FinancialEducation #OnlineSafety #MoneySkills #YoungPeople #ScamAwareness #DigitalSkills #ErasmusPlus
📱 €4.99 here. €9.99 there. And suddenly… where did your money go?
Music streaming. Gaming subscriptions. Cloud storage. Apps. Video platforms. Premium memberships. Individually, they might not seem expensive. But recurring payments can quietly add up – especially when they are automatically charged every month. 💸
Try a quick subscription check:
🔍 Which subscriptions are you currently paying for?
📅 Are they monthly or yearly?
💶 What do they cost each month altogether?
🤔 Do you actually use all of them?
❌ Is there anything you could cancel?
Here’s the interesting part:
A €10 monthly subscription costs €120 a year.
Knowing where your money goes is one of the simplest financial skills, and one that can make a real difference.
💡 Small payments are still payments. Keep track of them.
#BAFI #FinancialLiteracy #FinancialEducation #MoneySkills #YoungPeople #Subscriptions #SmartSpending #MoneyManagement #VET #ErasmusPlus
💶 If you earned twice as much tomorrow, would you actually become twice as financially secure?
Financial well-being isn't only about how much money comes in, it's also about the choices we make with what we already have. A higher income can make life easier, but if spending rises just as fast, saving and planning ahead can still feel out of reach. 💭
The European Commission/OECD Financial Competence Framework for Children and Youth points to key skills like budgeting, living within your means, telling needs from wants, and prioritising saving over spending in the moment.
👉 Good money management matters at every income level — not just when you "have more."
🔗 Read more: European Commission/OECD Financial Competence Framework for Children and Youth
finance.ec.europa.eu/publications/commission-and-oecd-infe-publish-joint-framework-children-and-y...
#BAFI #FinancialLiteracy #FinancialEducation #VET #VocationalEducationAndTraining #ErasmusPlus #Inclusion #YouthSkills #LifeSkills
The Commission and OECD-INFE publish a joint framework for children and youth
finance.ec.europa.eu
On 27 September 2023 the European Commission and the OECD’s International Network on Financial Education published the joint EU/OECD-INFE financial competence framework for children and youth.
A milestone reached for BAFI 🎉
Last Friday, we reached an important moment in our project journey: the BAFI Progress Report was officially submitted to the National Agency! 🚀
The report looks back at everything we have achieved and worked on so far, from the first project activities and results to the important steps we have taken together as a consortium.
What makes this milestone especially meaningful?
It was truly a joint effort!
🤝 All BAFI partners contributed to the report, reflecting once again the great cooperation and commitment within our international consortium.
Now, with the report submitted, we are ready to look ahead and continue working on the next exciting steps of the BAFI journey. Stay tuned! 👀✨
#BAFIproject #ErasmusPlus #FinancialLiteracy #InternationalCooperation #VET“
📱 How much does social media really influence the way young people spend money?
In May 2026, the European Commission published the results of a Youth Policy Dialogue on money management skills, and the findings are worth a scroll-stop. 👇
Young participants pointed to how social media can push unrealistic consumption patterns, shift financial priorities, and create pressure to "keep up" with a certain lifestyle. They also flagged the growing use of Buy Now Pay Later services, which can make it a little too easy to spend money we don't yet have.
Being financially aware isn't just about knowing how money works. It's also about recognising the pressures shaping our choices. 💡
🔗 European Commission – Youth Policy Dialogue on money management skills
finance.ec.europa.eu/news/youth-policy-dialogue-focuses-money-management-skills-2026-05-18_en
#BAFI #FinancialLiteracy #YoungPeople #MoneyManagement #SocialMedia #FinancialEducation #VET #VocationalEducationAndTraining #ErasmusPlus #Inclusion #YouthSkills #LifeSkills
Youth policy dialogue focuses on money management skills
finance.ec.europa.eu
Commissioner Albuquerque met with 15 young Europeans who highlighted the importance of promoting financial literacy across Europe.
During the recent meeting, the consortium focused on the project's progress so far, as well as the first results from testing the materials developed within BAFI. We're now looking forward to feedback from vocational education and training professionals!
This project is co-funded by the European Union.
#BAFI #financialliteracy #financialeducation #vet #vocationaleducationandtraining #ErasmusPlus #inclusion #YouthSkills #lifeskillsBAFI - Basic Financial Literacy for Social, Economic and VET Inclusion
Im Rahmen des Meetings befasste sich das Konsortium intensiv mit den bisherigen Fortschritten des Projekts sowie mit den ersten Ergebnissen aus der Erprobung der entwickelten Materialien. Nun sind wir gespannt auf die Rückmeldungen der Fachkräfte aus der beruflichen Aus- und Weiterbildung.
Das Projekt wird von der Europäischen Union kofinanziert.
Spot the warning signs before it's too late
Now that we've covered the basics of credit, it's time to go deeper 👇
In our new BAFI deep-dive, we cover:
💳 Types of consumer credit
📈 The real cost of credit (APR)
⚖️ Your rights as a consumer
🚨 Warning signs of over-indebtedness you shouldn't ignore
🛠️ Practical strategies to get out of debt
🤝 Where to find free help
Asking for help isn't failure, it's a step toward responsibility 💪
#BAFI #FinancialLiteracy #FinancialEducation #VET #VocationalEducationAndTraining #ErasmusPlus #Inclusion #YouthSkills #LifeSkills
Do you really know what a loan costs you?
Only 18% of EU citizens have a high level of financial literacy 📊 and credit is one of the trickiest topics to get right.
In our new BAFI factsheet, discover:
✅ How credit really works
✅ The difference between "useful" debt and "risky" debt
✅ Why so many Europeans struggle to cover an unexpected expense
✅ How to manage debt responsibly
Swipe through the carousel and test yourself! 👇
#BAFI #FinancialLiteracy #FinancialEducation #VET #VocationalEducationAndTraining #ErasmusPlus #Inclusion #YouthSkills #LifeSkills
You do not need to be an expert to start.
Understanding taxes can feel confusing at first, but learning the basics is already a step forward.
It can help you feel more confident when asking questions, more independent when making decisions, and more included when understanding systems that affect your everyday life.
Small steps. More clarity. More confidence. 🌱
#BAFI #financialliteracy #financialeducation #vet #vocationaleducationandtraining #ErasmusPlus #inclusion #YouthSkills #lifeskills
Taxes are part of real life: apprenticeships, work, study, side jobs, income, choices, and your future.
Understanding the basics gives you more confidence to ask questions, read your documents, and understand what could matter for your own situation.
Small steps. More clarity. More confidence. 💡
#BAFI #financialliteracy #financialeducation #vet #vocationaleducationandtraining #ErasmusPlus #inclusion #YouthSkills #lifeskills
💶 Did you know?
Fewer than 1 in 5 EU citizens have a high level of financial literacy.
The European Commission's financial literacy strategy sends a clear message: #investinyou 🇪🇺
More financial skills mean:
✅ better budget management
✅ protection from scams & misinformation
✅ preventing over-indebtedness
✅ stronger saving habits
✅ planning ahead
✅ informed decisions
That's exactly what BAFI is about. Making basic financial skills accessible to everyone. 💪
👉 Explore the EU strategy: finance.ec.europa.eu/consumer-finance-and-payments/financial-literacy/factsheet-eu-financial-lite...
🌐 www.bafi-project.eu
#BAFI #financialliteracy #EmployeeBenefits #income #WorkRights #YouthSkills #vet #ErasmusPlus #lifeskills #FinancialEducation
Factsheet: The EU financial literacy strategy
finance.ec.europa.eu
Connecting savings and productive investments.
The BAFI project is heating up! 🔥
Our online course mock-up is almost ready and already includes the first of 7 financial literacy modules on income, covering four subtopics, including labour and social income.
The mock-up is being developed in four versions for Italy, Ireland, Germany, and Austria.
This week, we piloted the mock-up with VET educators in Germany through a 2-hour webinar. Participants explored the planned content and features of the e-course and helped us improve it with their feedback. Stay tuned for the results!
Want to learn more about the BAFI project?
Get in touch with our partner @Jugendförderverein
jfv-pch.de/eu-projekt-bafi.html
#BAFI #financialliteracy #financialeducation #vet #vocationaleducationandtraining #ErasmusPlus #inclusion #YouthSkills #lifeskills
Needs and wants look different for everyone. Needs support for your daily life, stability, and participation. Wants can bring joy, comfort, connection, and self-expression.
Both can matter.
It’s not about judging your choices – it’s about understanding them.
This is what we are exploring in the BAFI VET Project: how financial education can support learners to make informed choices with confidence.
A helpful question to ask yourself: Does this spending choice fit my life, my needs, and my goals right now?
Financial confidence starts with awareness and understanding.
--> Partner MMT Academies
#BAFI #FinancialLiteracy #FinancialEducation #ErasmusPlus #VET #Inclusion #YouthSkills #LifeSkills
