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Description
The aim of the project is to educate 200 people aged (60+) of 10 Greek cities on the use of financial products, services and procedures in a safe way, through trainings and workshops The elderly are disadvantaged at the capability of using financial products and services, as most of them are not accustomed with the management and their use and for this reason they can easily be exploited and deceived.
The trainings and workshops include among others safe use of credit/debit card, online banking - purchases, bank account protection, loans management and special benefits to elderly by services of general interest. Trainings will take place in Nafpaktos, Chania, Veria, Kastoria, Lamia, Syros, Katerini, Rhodes, Volos and Messolonghi.
Fifty (50) of the trainees (5 people per Training Lab / City) will be selected to provide voluntary work on the object of the training program that they attended. An expected number of 252 people will take advantage of the project during its implementation (Beneficiaries).
After the end of the project a manual for use of financial products will be available on line and five trainees per city will create a local service team in order to assist other elderly in the use of financial product.
Summary of project results
The project aimed to address the following challenges:
- Limited Financial Literacy Among the Elderly: Many elderly individuals (60+) were disadvantaged in their ability to use financial products and services due to unfamiliarity with their management and operation. This lack of knowledge made them vulnerable to exploitation and deception.
- Risk of Financial Exploitation: The elderly are often targeted for financial scams or fraudulent activities due to their lack of understanding of financial products, such as credit/debit cards, online banking, and loans.
The project implemented the following activities:
Training and Workshops: The project organized training sessions and workshops in 10 Greek cities (Nafpaktos, Chania, Veria, Kastoria, Lamia, Syros, Katerini, Rhodes, Volos, and Messolonghi). These sessions focused on teaching the elderly how to safely use financial products and services, including:
- Safe usage of credit and debit cards.
- Navigating online banking and making secure purchases.
- Protecting bank accounts from fraud.
- Managing loans and understanding special benefits available to the elderly.
Creation of Educational Materials: A manual for the safe use of financial products was developed and made available online for wider access.
Volunteering and Peer Assistance: Fifty of the trainees (five per city) were selected to volunteer, creating local service teams to assist other elderly individuals in their communities with using financial products and services.
The project achieved the following results:
Beneficiaries: The primary beneficiaries were 200 elderly individuals aged 60+ from 10 Greek cities, who gained knowledge and skills in safely using financial products and services. Additionally, the elderly individuals who were assisted by the local service teams created by the trainees also benefited.
Key Outcomes:
- 200 elderly individuals were trained in the safe use of financial products and services.
- A manual was created to provide ongoing guidance and was made available online for broader access.
- Local service teams were established, with five volunteers per city, to assist other elderly people in using financial products.
- The project achieved its target of educating and empowering the elderly to protect themselves from financial exploitation.
Impact: The project significantly improved financial literacy among elderly individuals, equipping them with the skills to safely manage their finances and avoid common scams. It also created a sustainable model for peer assistance, where trained individuals could continue helping others in their communities, fostering long-term empowerment.