The formal Financial Literacy (Χρηματοοικονομική Παιδεία) programme by the Ministry of Education (YPAN) was officially introduced into Cyprus public schools in the 2024–2025 school year.
It operates as a targeted interventional program (παρεμβατικό πρόγραμμα) integrated within the existing curriculum.
The curriculum rollout followed this exact timeline:
- Academic Year 2024–2025: The classes rolled out initially to all third-year high school students.
- Academic Year 2025–2026: The ministry expanded the curriculum to encompass the entire Gymnasium level (1st, 2nd, and 3rd year) as well as the 6th grade of primary schools.
This phased implementation marks an important step towards strengthening students’ knowledge, skills, and attitudes in areas such as money management, saving, budgeting, and responsible financial decision-making.
The ultimate goal is the introduction of a standalone financial education course within the Cyprus education system.
The program consists of 6 total teaching periods per year for each class section. According to the Ministry's official schedule (PDF), these 45-minute periods are strategically divided across the school semesters:
- 1st Semester: 3 teaching periods are dedicated to 2nd and 3rd-year students.
- 2nd Semester: 3 teaching periods are
dedicated to 1st and 3rd-year students.
The curriculum is structured around three primary thematic pillars designed to teach students how to improve their financial well-being:
1. Personal Financial Management & Budgeting (Προσωπικός Προϋπολογισμός
- Values and Financial Goals: Differentiating between financial "needs" and "wants" based on personal values.
- Setting Objectives: Prioritizing financial goals and learning how to plan ahead.
- Creating a Budget: Practical steps for tracking personal income, managing everyday expenses, and structuring a basic balance sheet.
2. Savings (Αποταμίευση)
- The Importance of Saving: Understanding why saving money serves as a cushion for the future.
- Emergency Funds: Learning how to build small financial safety nets for unexpected expenses.
- Banking Basics: Introduction to basic savings accounts and the concept of how money can grow safely over time.
3. Borrowing and Debt (Δανεισμός)
- Understanding Credit: Concepts behind borrowing money and how credit products work.
- The Cost of Debt: Simple explanations of interest rates and how borrowing impacts future income.
- Smart Financial Choices: Teaching students to avoid common debt pitfalls and make informed consumer decisions.
The digital resource is available in Greek only through the following link: Financial Literacy for Gymnasium.
Supporting Material
Additional information, teaching plans, and curriculum resources are available in Greek only on the official Financial Literacy in Secondary General Education website of MOESY.
