Learning by experiencing Escape Rooms: Financial Literacy for Adults
FLER
The FLER project aimed to enhance financial literacy among adults, especially those living in rural areas, and to improve their skills for making sound financial decisions in everyday life and/or in businesses.
Scenario-Based Learning provide the project beneficiaries with realistic context and emotional engagement, allowing for a more efficient understanding and retention of financial topics.
The FLER project enhances sustainable economic development and social welfare by improving the financial well-being of adults with low financial literacy
Studies show that financial literacy remains low across many countries, especially among vulnerable groups, including rural populations. The COVID-19 pandemic further highlighted financial vulnerability, increasing economic instability and the risk of fraud. Many financially inexperienced individuals faced difficulties managing their budgets and fell victim to scams due to the rapid shift to digital transactions. Given the EU/OECD-INFE Financial Competence Framework for Adults (2022), we saw an opportunity to contribute to improving financial literacy levels through innovative and digital learning solutions tailored to the specific needs of rural adults.
The FLER project is innovative as it introduces a unique digital learning approach in Financial Literacy, utilizing Virtual Escape Rooms as a method to enhance engagement and knowledge retention.
The general objectives of FLER project were to:
- Equip low financial literate adults belonging to rural areas with a specific digital learning tool (Virtual Escape Room);
- Host a Scenario-Based Learning (SBL) course on Financial Literacy, which represents an effective learning approach;
- Provide the learners with realistic context and emotional engagement, thus allowing for a more efficient understanding and retention of financial topics;
- Result: Improve the target group’s financial well-being through enabling them to make sound financial decisions during their everyday life and ongoing and future businesses.
The primary target group of FLER project is represented by low financial literate adults belonging to rural areas.
The project impacts on:
- The general adult education and training sector;
- Adult Training Providers;
- Adult learning experts;
- Public institutions offering services to adult people;
- Organisations with a specific and updated SBL course on Financial Literacy topics.
The benefits of the project extend beyond the immediate target group by promoting high-quality, inclusive financial education. By utilizing gamification techniques, FLER creates a more accessible and enjoyable learning experience, catering to adults from various backgrounds. This approach not only equips participants with essential financial skills but also fosters resilience against economic uncertainties, as highlighted by the challenges posed by the COVID-19 pandemic.
The results positively impacted on adults, because they were designed to exploit an engaging and stimulating learning approach, that supports the active understanding of financial topics, their effective retention and efficient application.
The digital and online modality of the course ensured a great flexibility of learning activities, which is acknowledged to be pivotal to fully customise the training that the project intends to develop to the target group needs.
Based on different real-life scenarios aiming to improve financial competencies, tailored to the learning needs of low financial literate adults.
Appealing and motivating Game-Based Learning tool in the financial literacy.
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SZKOLA GLOWNA GOSPODARSTWA WIEJSKIEGO (POLAND)
EFFEBI (ITALY)
FUNDACIÓ PRIVADA INSTITUT D'ESTUDIS FINANCERS (SPAIN)
EURODIMENSIONS (MALTA)
FOLKUNIVERSITETET (SWEDEN)
VIRTUAL CAMPUS (PORTUGAL)
DIMITRA EDUCATION & CONSULTING SA (GREECE)
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