Gemma Newsletter March 2024

Ġemma newsletter

ĠEMMA conference on March 6th

Dear ĠEMMA subscribers,

We are very happy to welcome you to a new edition of our newsletter. 2024 sees the launch of Malta’s OECD data on financial literacy through the ĠEMMA conference.

We shall also set forth on further projects and initiatives, some with our partners to continue to work towards our goals. Since the end of Q4 last year, ĠEMMA has formally become part of the Pensions Strategy Directorate within the Strategy and Implementation Division of the Ministry of Social Policy and

MARCH 2024

Children’s Rights. This will continue to strengthen our work and increase our capacity. We look forward to continuing with our mission to teach the key life skills of financial capability to people of all ages. Remember to follow us and keep in touch.

Ġemma newsletter

CREDITS

All Members

Ġemma Team

All Contributors

Freelancers

Content Coordinator

Daniela Xuereb

Proof-Reading

Grazio Barbara

Helena Holland

Graphics Production

Peter Miceli Saydon

Distribution

Archibald Attard

Media Editor MSPC

Tonio Bonello

ĠEMMA Newsletter is another publication produced and distributed by the Ministry for Social Policy and Children’s Rights. Along with this newsletter, the Ministry produce several other publications under the brand name FAMILJA.

FAMILJA AĦJAR is an annual publication aimed at informing the general public about the measures announced after each budget.

Once a year, SUPPLIMENT SPEĊJALI FAMILJA is produced conveying content related to a specific entity and it’s services within MSPC.

RIVISTA FAMILJA seeks to inform the readers with the holistic works of the Ministry combined with socio-cultural themes of general interest.

If you would like to subscribe in our publications, please click here. All information provided is kept in the most confidential manner and in line with the data protection law of Malta.

A DECADE OF BOOSTING EUROPE’S FINANCIAL LITERACY

This year marks the tenth anniversary that the Malta Bankers’ Association (MBA) through the auspices of European Money Week (EMW)together with other national banking associations in Europe and under the coordination of the European Banking Federation (EBF) - have organised events and activities which fostered financial literacy and education for young people. This annual initiative is aligned with OECD's Global Money Week and involves young people in more than 35 European countries. The main aim of this week, which this year is scheduled to take place between the 18th to the 25th of March, is to promote financial literacy and raise awareness about money and personal finances especially amongst students and youths.

During these ten years the MBA has partnered up with the Home Economics Seminar Centre within Directorate for STEM and VET Programmes and ensured the support of various stakeholders in the actively planning various initiatives and events. The Financial Literacy Challenge organised for Church, State, and independent schools is always popular amongst students while additionally, the Be Wise Pay Smart Programme targets vulnerable students and aims to introduce them to different methods of payments. Furthermore, a teacher training programme has featured over this period with the objective to upskill and expose educators to current trends and topical matters in financial services.

The national competition to select local students to compete in the EBF’s European Money Quiz (EMQ) - also organised by the EBF - has a shorter lineage as it has only been held during the past four years. Here the MBA, in collaboration with the Department of Accounting and Business Studies within the Directorate for STEM and VET Programmes, created a national competition to select two participants who will represent Malta in the final of the EMQ held in Brussels. The EMQ is a European-wide competition which aims to improve the financial literacy skills of children between the ages of 13 to 15 years. The quiz attracts hundreds of thousands of children from over 30 European countries.

The MBA considers that exposing children at an early age and young people to practical aspects of finance is an essential step in generating a positive and knowledgeable mindset on financial matters as this will serve them well once they achieve adulthood. However, the Association is also committed to its role in fostering financial literacy and education amongst different cohorts of the population and stands ready to continue working with other stakeholders to aim for a higher level of knowledge across different age groups.

Fiona Borg Catania Executive Assistant Malta Bankers’ Association

Imħabbra riżultati ta’ stħarriġ dwar Malta tal-OECD

Il-ħidma tal-kampanja nazzjonali ĠEMMA kienet flaqwa tagħha reċentament meta lejn tmiem l-ewwel ġimgħa ta’ Marzu kienet organizzata konferenza dwar Litteriżmu Finanzjarju fil-kuntest tal-Adulti fejn kienu mħabbra wkoll irriżultati ta’ stħarriġ li kien imniedi mill-OECD.

L-attività kienet uffiċjalment miftuħa mill-Onorevoli Michael Falzon, Ministru għall-Politika Soċjali u dDrittijiet tat-Tfal, segwiet mis-Segretarju Permanenti, Mark Musù. Helena Holland, Kap tal-Kampanja Nazzjonali ĠEMMA tat ħarsa lejn ħidmet ĠEMMA partikolarment matul din laħħar sena waqt li ħabbret kampanja ta’ aktar ħidma li se tħares lejn l-2026 u ‘l quddiem.

Diversi kelliema ġejjin minn entitajiet differenti tkellmu dwar is-sitwazzjoni attwali tal-Litteriżmu Finanzjarju f’pajjiżna biex konklussivament, Marika Fsadni spjegat fit-tul fiex kien jikkonsisti l-istħarriġ, kemm u min kienu lparteċipanti u dak li ħareġ minnu.

L-istħarriġ sar bejn Lulju u Awwissu tal-2023 u fih ipparteċipaw 1,005

parteċipant tal-età bejn it-18 u d-79 sena. Dawn kienu jinkludu Maltin kif ukoll persuni barranin li huma residenti f’Malta.

L-aġenda tal-istħarriġ fittxet li tanalizza erba’ aspetti, jiġifieri; l-objettivi tar-riċerka, il-metodoloġija tar-riċerka, ilpunti ewlenin ta’ dak li ħareġ mill-istħarriġ u lkonklużjonijiet mill-istess stħarriġ rispettivament.

Fost dawn ħareġ kif dwar pjanar u maniġjar ta’ finanzi, l-istħarriġ juri li 9 minn kull 10 adulti jagħmlu deċiżjonijiet meħtieġa ta’ kuljum fejn jidħlu flushom. 55 fil-mija jgħidu li jikkonsultaw ma’ persuni oħra dwar deċiżjonijiet li għandhom jieħdu waqt li 38 fil-mija ta’ dawk li rrispondew qalu li ddeċiżjonijiet jeħduhom huma stess.

Dwar inizjattivi li jgħinuhom iżommu rendikont tal-infieq, 59.2 fil-mija rrispondew li huma jieħdu nota ta’ dak li jkunu nefqu. 47.8 fil-mija qalu li jużaw app bankarja u/ jew għodda oħra dwar maniġjar ta’ flus biex jagħmlu dan.

Lejn tmiem il-konferenza, panel ta’ mistiedna magħmul minn Alexia Vella, Direttur Ġenerali dwar Strateġija u Implimentazzjoni fi ħdan il-

Ministeru għall-Politika

Soċjali u d-Drittijiet tat-TfalCarl Fenech, Social Worker Leader mill-Aġenzija

Sapport - Maria Mercieca, Operations Manager għasServizzi tal-Komunità millAġenzija għas-Servizzi Terapewtiċi fil-KomunitàSarah Pulis, Head Conduct Supervision tal-Awtorità Maltija għas-Servizzi

Finanzjarji - u Lorraine Dimech Magrin, Uffiċjal Edukattiv tal-Home Economics iddiskutew u analizzaw ir-riżultati li ħarġu mill-istess stħarriġ. Imexxi dan il-panel kien Karol Gabarretta, Segretarju Ġenerali tal-Assoċjazzjoni Bankiera Maltin.

L-attività setgħet kienet possibbli, grazzi għal ħidma loġistika kollaborata bejn ilmembri tat-tim ĠEMMA taħt it-tmexxija tal-Kap talKampanja Nazzjonali

Ġemma, Helena Holland, kif ukoll entitajiet oħra fi ħdan listess Ministeru flimkien ma’ istituzzjonijiet oħra rispettivament.

Tonio Bonello

Editur Media MSPC

Mother’s & Father’s Day

Celebrating our parents with meaningful (and budget-friendly) gifts.

Showing our love for our parents doesn’t have to involve extravagant gifts. The sentiment behind certain gifts often outweighs the price tag and sometimes, it’s the simple things that leave a lasting impression.

Meaningful experiences

In the hustle of our daily fast-paced lives, special occasions like Mother’s & Father’s Day provide us with an opportunity to express our appreciation. And what better way to show your love than to spend quality time together? Consider exchanging tangible gifts for the invaluable gift of time. Go out for a coffee, take a leisurely stroll, or find an activity that you can do together.

Meals at home

If you want to skip eating out, you can enjoy a hearty home-cooked meal, budget-friendly dishes, and desserts that you can prepare together with the kids. Or if weather permits, a picnic by the sea for a little fresh air. Discover simple, delicious and wallet-friendly recipes prepared by Peter, a dedicated member of the ĠEMMA team: https://gemma.gov.mt/ health-lifestyle/

Homemade personalised gifts

Why not involve your little ones in crafting gifts and cards for your partner or even your parents? We’re confident that hand-drawn cards from their grandchildren will be cherished by your parents (probably more than a store-bought one). The saying it’s the thought that counts, comes to mind. What truly matters is expressing your gratitude and creating more meaningful moments together.

Amanda Lia Freelancer

We have a Winner!

We are pleased to announce Yanika Gravina as the winner of the Financial Literacy Quiz competition held in November 2023.

Yanika, a 22-year-old student discovered GEMMA whilst browsing on social media. Following the competition’s conclusion, she shared her comments with us:

“

I went on the ĠEMMA page, found the information to be interesting and started following ĠEMMA. When the Financial Literacy Quiz competition was launched, I decided to participate. I found it interesting to learn how to save money and budget to find a balance in everyday life. After the competition closed, I received a call from the ĠEMMA team informing me that I got the quiz answers all right and that I was the winner of the competition. Thanks for the opportunity!

The winner was chosen electronically out of 248 responses, taking home €100 worth of One4All Gift Vouchers. The multiplechoice online quiz featured seven (7) questions covering personal finance topics

including pensions, budgeting, and saving. The quiz is available online via the following link and the correct answers to the quiz questions are included below:

https://docs.google.com/ forms/d/ e/1FAIpQLScbu2T29V6GO Zp0xZYsKRQV_TMnpVx3P8ZYSb-P1BAwhaZiw/

fbclid=IwAR2BW8obD1BHp 2g_cWQlmuhJXrZZGcOPKIgH

CORRECT ANSWERS TO QUIZ QUESTIONS