Our objective is to construct two social/educational technologies: one for the retired, with incomes of up to two minimum wages, and the other for women beneficiaries of the Bolsa Família Program.
The study conducted by the Instituto Data Popular, in 2008, on the occasion of the development of the Estratégia Nacional de Educação Financeira – ENEF (National Strategy for Financial Education), pointed to some numbers that called attention: the increase in consumption’s participation in the expenses of Brazilians jumped from 74.59% to 82.41% between 1974/1975 and 2002/2003, while the total destined for investments headed in the opposite direction, from 16.50% to 4.76%. With regard to the financial organization of Brazilian family households, the numbers revealed that 36% of those surveyed declared having a “spender” profile; 54% were unable to pay their debts at least once in their lifetime; and only 31% saved regularly for retirement. The facts and the numbers reveal, in short, that it is necessary to offer the adult public an ample set of instructions about fitting attitudes and behaviors for planning and using financial resources, with the objective of helping him plan his life and his future better, providing him better conditions for achieving his goals and dreams and informing him of the right he has to know what he is going to buy.
Addressing Financial Education with the adult population is very different from addressing the child-youth population. If children and youths are inserted within a school context and in the process of cognitive formation and forming their vision of the world, adults are not institutionalized and their visions are already constructed and often enrooted. Access to this population and the development of technologies that result not only in knowledge about Financial Education, but that fundamentally influence their choices, through healthy financial attitudes and behaviors, are challenges.
Based on these ascertainments and having innovation as a principle, AEF-Brazil has a Financial Education Program for Adults aimed at the construction of two social/educational technologies: one for the retired, with incomes of up to two minimum wages, and the other for Women Beneficiaries of the Bolsa Família Program(1).
The principle of social innovation proposed in these projects is based on research about the psychological, social and cultural factors that influence in financial decisions and in the joint work with these populations to also understand that factors provide new attitudes and behaviors. Thus, data are generated about what influences the diverse financial behaviors, leading to the construction of social and educational technologies.
The structured projects permit a more in-depth analysis and understanding of the behavior of the publics and include them in the development of technologies, so the ideas generated become a big bank of proposals for Financial Education technologies. This project intends to involve 2700 women and 2700 retirees, in states from three regions of Brazil: North, Northeast and Southeast.
The pilot projects, geared toward two specific adult publics, aim at developing, testing, evaluating and systematizing two social technologies of financial education that can be adopted and reapplied at a low cost by public, social and private organizations throughout Brazil.
(1) Bolsa Familia is a social welfare program of the the Brazilian government. It provides financial aid to poor Brazilians families.