Girls in the World of Finance: Responsible, Thrifty, Resourceful

Financial education classes as part of the "We Learn #OOOfinansach with KRUK S.A." project. Specto Primary School in Wrocław [photo: OOO foundation]

Although boys receive pocket money from their parents more often than girls (36% vs. 34%), girls are more entrepreneurial. From an early age, they are slightly more willing than their male peers to take on small household chores to "earn" money (67% vs. 65%).

The survey also shows that girls eagerly learn financial management in practice. While boys are more likely to shop independently (36% vs. 29%), girls are more inclined to discuss product prices (44% vs. 39%) and noticeably more often pay for purchases under parental supervision (45% vs. 41%).

The skills acquired in this way may contribute to girls being more frugal and managing their money more responsibly. They are significantly more likely than boys to seek advice from their parents and consult them about their expenses (53% vs. 42%). However, they have less autonomy in deciding about their savings (44% vs. 30%). Boys have more freedom, act more spontaneously, and tend to spend their pocket money immediately (26% vs. 20%).

– Despite growing social awareness, certain stereotypes and social roles remain hard to overcome. This is evident in financial education, where girls are taught financial caution, while boys are given more freedom in managing their budget and take bolder investment steps,” emphasizes Agnieszka Salach, spokesperson for KRUK S.A. “This approach may reinforce disparities in earnings, labor market opportunities, and investments. To prevent this, we need to break gender role stereotypes and promote financial education that does not differentiate between girls and boys. Girls should be encouraged to take risks and consider investments, while boys should learn responsibility in money management. Of course, children can also share their financial knowledge and skills with each other.”

What About Borrowing and Returning?

It turns out that, unlike their male peers, girls struggle more with reclaiming borrowed items or money. Boys are much less likely than girls to have to remind others to return what they lent (18% vs. 26%).

– This may be due to cultural and social conditioning, as well as ingrained stereotypes – says Bartłomiej Dwornik from the Ogólnopolski Operator Oświaty foundation. – Girls are more emotionally driven and worry that reminding someone about a loaned item or money may harm their relationships with peers. Boys, on the other hand, are not guided by such concerns and consistently seek to recover their ‘loan,’ reinforcing the idea that borrowing comes with the responsibility of returning. Girls should adopt this approach.

Interestingly, one in five children has never recovered a borrowed item or money.

– Borrowing and returning are among the least discussed topics with children - whether at home, preschool, or school. Yet, it is an important habit in financial education, teaching responsibility and commitment to agreements – says Agnieszka Salach. – This practice can positively impact adult life by fostering responsible financial decisions, which in turn may reduce the risk of financial difficulties or debt.

The Children`s Financial Knowledge Survey: Money Through Their Eyes

According to the survey, the most common financial topic discussed with preschoolers and students is saving (64%), followed by product prices (42%), spending money (30%), bills (28%), and, lastly, borrowing (26%) and returning borrowed items or money (22%). Children primarily talk about money with parents and family (76%). The second most common source of financial knowledge is school or preschool (40%), followed by cartoons and movies (27%). The study also shows that children rarely turn to books for financial knowledge (22%) and infrequently discuss it with friends (16%).

However, girls are more likely than boys to choose trusted and reliable financial mentors - teachers (44% vs. 37%). Meanwhile, boys are more likely to learn about finances from movies and cartoons (31% vs. 24%).

– The role of parents in children`s financial education is crucial – emphasizes Bartłomiej Dwornik from the OOO foundation. – Parents serve as role models, so we should also pay attention to our own attitudes and behaviors regarding finances. It`s essential to have open conversations about money with children, plan expenses together, involve them in shopping, and allow them to make independent decisions regarding pocket money. Children are keen observers and mirrors of their parents. Let’s make sure to set a good example.

The Children`s Financial Knowledge Survey was conducted by the Ogólnopolski Operator Oświaty foundation for KRUK S.A. among preschoolers (ages 5 and 6) and students in grades 1-3. The survey took place from September 16–30, 2024, using the CAPI method, with a sample size of 713 participants.

The study is part of the educational project We Learn #OOOfinansach with KRUK S.A., launched in September 2024 to mark the Year of Economic Education. The project has been included in the list of educational initiatives for the Year of Economic Education.

More information: https://operator.edu.pl/pl/ooo-finansach/

Ogólnopolski Operator Oświaty Foundation has been engaged in educational and social activities since 2001, supporting local governments in implementing educational tasks and projects. It is a public benefit organization that operates free preschools and schools across Poland. Currently, 90 educational institutions run by the OOO foundation serve 9,000 children and young people. The foundation also carries out nationwide educational, social, and developmental projects: #MAMYNATORADĘ. Guides for Parents • A Speech Therapist in Every School and Preschool • #LabOOOratorium. Create Innovations with Us.

KRUK Group is a market leader in debt management in Poland and Romania, with a growing presence in the Czech Republic, Slovakia, Italy, Spain, and assets in Germany. KRUK S.A. is part of the international KRUK Capital Group, which also includes Kancelaria Prawna RAVEN P. Krupa Spółka komandytowa and KRUK Investment Fund Society in Poland. Operating since 1998, KRUK S.A. recovers both consumer and business debts. The company pioneered a pro-settlement strategy, enabling debtors to repay in installments. The group`s headquarters are located in Wrocław.