Money Matters:
Why Financial Literacy in France and the EU Needs a Human Touch
In an era of digital banking and volatile markets, the ability to manage one’s finances is no longer a luxury—it is a survival skill. Yet, recent data suggests that a significant portion of the population in France and across the European Union is navigating a complex financial landscape without a compass.
The Current State: A Divided Continent
According to the 2023 Eurobarometer survey, financial literacy levels across the EU remain alarmingly low.
Only 18% of EU citizens demonstrate a high level of financial knowledge, while the majority (64%) possess only “medium” proficiency.
France mirrors this trend; while 88% of French citizens feel they have their budget under control, only 30% consider themselves very competent in financial management (Oney, 2025).
The gap is even more pronounced among vulnerable demographics. Research by Lusardi and Mitchell (2023) highlights a persistent “gender gap,” where women consistently score lower than men on financial knowledge tests across every EU member state.
Furthermore, younger generations (ages 18–24) often struggle with foundational concepts like inflation and compound interest compared to their older counterparts, leaving them ill-equipped for long-term planning.
1.TERMINOLOGY OVERLOAD
Research from CLADEA (2021) suggests that the lack of a “precise and generalizable definition” of financial literacy leads to confusion. Different institutions—banks, governments, and schools—use different jargon, making it hard for the average person to find a consistent starting point.
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2.PRODUCT COMPLEXITY
The rise of digital financial services and “complex instruments” like crypto-assets and reverse mortgages has outpaced public education. An OECD (2023) report found that while 54% of new French investors hold crypto-assets, many lack the digital financial literacy to navigate the high volatility and risks involved.
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3.THE “TABOO” FACTOR
Historically, money has been a private, often shameful subject. While Oney (2025) notes that this taboo is fading—with 77% of young French adults now discussing money with loved ones—the lack of formal, structured conversation in schools means most people learn through trial and error.
Making Finance Accessible: A Path Forward
To bridge this gap, financial education must transition from “exclusive expertise” to “community infrastructure.” Scholars like Huston (2010) and Lusardi (2019) argue that financial literacy is not just about math; it’s about confidence and application.
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Globex BRANCHES are here for you
Navigating the world of finance shouldn’t feel like a solo mission.
Whether you need clarity on a complex money transfer, want to know specific rates for a currency exchange, or have questions regarding our trusted partners Western Union and Monty Global Payments, Globex has your back.
Our dedicated team are more than just experts—they are neighbors who are genuinely happy to assist you!
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Address: 22 Avenue Robert Soleau, 06600 Antibes, France
Phone: +33 4 93 65 27 34
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Address: 13 Boulevard de la République, 06240 Beausoleil, France
Phone: +33 4 93 41 64 35
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Address: 12 Avenue Boyer, 06500 Menton, France
Phone: +33 4 93 51 37 63
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Address: 22 Boulevard Pierre Sola, 06300 Nice, France
Globex Nice ville
Address: 31 Rue d’Angleterre, 06000 Nice, France
Phone: +33 4 93 81 27 79
Feel free to give any of our local branches a call or stop by for a chat; we’re always ready to provide the personalized, in-person support you deserve!
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References
- European Commission (2023). Monitoring the level of financial literacy in the EU (Flash Eurobarometer 525).
- Lusardi, A., & Mitchell, O. S. (2023). The state of financial knowledge in the European Union. Journal of Financial Literacy and Wellbeing.
- OECD (2023). International Survey of Adult Financial Literacy.
- Oney (2025). Financial literacy week: how the French are managing their money.
- Selim, S., & Aydemir, R. (2014). The evolution of the Financial Literacy Concept.
