International Launch of Global Money Week is an annual celebration of global money awareness that takes in the third full week of March. This year, it takes place from March 18 to 24. The Child and Youth Finance International (C.Y.F.I.) Secretariat coordinates the week-long holiday every year to increase awareness about economic citizenship and directly educate children and youth around the world on the issue. Global Money Week involves a series of activities held at the regional, national, and local levels by partners and stakeholders of C.Y.F.I. with the goal of financial education and inclusion.
History of International launch of Global Money Week
International Launch of Global Money Week is an annual money awareness program devised to inspire children and youths to get financial education. In 2013, it reached roughly one million children in 80 countries in Europe, the Americas, Africa, Asia, and the Middle East. Roughly 403 groups, including N.G.O.s, central banks, ministries of finance, companies, and schools, arranged over 1,000 activities.
During International Launch of Global Money Week, children and youth are actively involved in event development, organization, and execution. Among the many activities are youth debates, talks by public figures, webinars, visits to national banks, money museums, parliaments, stock exchanges, money museums, and local businesses. They also get to enjoy exhibitions, artistic activities such as plays and cartoons, contests and competitions, financial education games, charity fundraising, video making, radio, and T.V. shows.
Civil society organizations such as Aflatoun, Children International, Save the Children, and World Vision are among the partners of the worldwide initiative. ING Group, NASDAQ OMX Group, VISA, MasterCard, NYSE Euronext, and stock exchanges in Belgium, Lithuania, Kenya, Sweden, Malaysia, and the United Kingdom, to mention a few, have all participated in the International Launch of Global Money Week in the past.
International launch of Global Money Week timeline
One-foot-square pieces of white deerskin with colorful borders, known as leather money, are used for trade and exchange in China.
China issues the first known paper currency.
Credit cards are introduced to the United States.
International Launch of Global Money Week grows even further, reaching nearly seven million children and youth in 132 countries.
International launch of Global Money Week FAQs
Who created money?
The Mesopotamian people did not invent the shekel, the first known form of currency, until roughly 5,000 years ago. Stamped coins were used to pay armies around 650 to 600 B.C. when gold and silver coins were invented.
What distinguishes money?
Money is a medium of exchange that enables individuals to attain the necessities of life. Before money was invented, people exchanged items through bartering.
What are the four types of money?
According to economists, money can be categorized into four groups. These are fiduciary, fiat, commodity, and commercial.
How to Observe International launch of Global Money Week
Educate children about money
Educating children and young people about their social and economic rights is critical to developing a generation of responsible adults capable of making sound decisions for their future. Talk to the children around you about important financial subjects this week.
Share on social media
Some of your coworkers and friends may be unaware of this event. Spread the news on social media and make posts about how important it is.
Participate in events
Every year, various events, activities, and competitions are held around the world to commemorate International Launch of Global Money Week. Do some research to find out which of them is happening close to you. Mark the date, and go prepared to learn and network.
5 Fascinating Facts About Money
It now costs more than a penny to create a penny.
Paper currency in the U.S. isn’t made from paper but from 25% linen and 75% cotton.
That’s a lot of cash
A Delaware farm mulches over four tons of ragged American cash into compost daily.
Becoming an engraver
It takes around ten years to qualify to become a banknote engraver.
You can microwave a paper bill to get it smooth enough for a vending machine.
Why International launch of Global Money Week is Important
It raises public awareness
International Launch of Global Money Week gives people the tools they need to take charge of their life. The holiday was created to raise awareness and provide vital information for people to achieve financial stability.
The week teaches people useful financial tips, including how to define realistic financial objectives and make plans to achieve the desired results. Financial education is basic knowledge in today’s world.
Financial needs and inclusion
Through outreaches, the week highlights the key factors of financial stability. It provides a platform to promote financial inclusion among a diverse majority, including women and children who’ve historically been left out.
International launch of Global Money Week dates