Financial ABC: A Handbook for Educators and Teachers of Independent Youth and Guardians of Independence. Part II.

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8 Jul 2021

Labour, Migration and Social Policies

Other Publications

Agnieszka Kulesa

Agnieszka Kulesa

Lead Social Sciences Researcher
Dr Agnieszka Kulesa is the Lead Social Sciences Researcher at CASE. She supports business development and oversees and contributes to research and analytical projects. Having joined CASE in 2018 as an economist, she served as Vice-President of the Management Board from 2021 to 2024. Agnieszka has authored or co-authored numerous publications, including peer-reviewed articles and reports for European institutions such as the European Commission (EC), the European Parliament (EP), the European Committee of the Regions (CoR) and the European Economic and Social Committee (EESC).

Articles from this author:
- Capacity building for local and regional authorities in the light of the Ukraine Facility (Pillar III)
- Exploring the Entrepreneurial Potential of Belarusian Migrants in the EU
  This Working Paper aims to deepen the understanding of Belarusian migration to the EU, with a particular focus on entrepreneurship among Belarusian migrants.
- 180th mBank-CASE Seminar Proceedings: BNPL: Buy Now Pay Later. Deferred Payment– An Established Idea Gaining Traction
  The publication examines the growing popularity and implications of the Buy Now, Pay Later (BNPL) financial model in Poland and globally. It features expert analyses and discussions from a seminar held on March 14, 2024, including insights from key players like PayPo, PKO BP, and the Credit Information Bureau (BIK). The publication focuses on: BNPL Evolution and Success: Originating in Sweden, BNPL has transformed global online shopping, offering deferred payment options as an alternative to credit cards. Poland's BNPL market, still in its infancy, shows rapid growth due to firms like PayPo, Twisto, and Allegro Pay. Comparison with Credit Cards: Unlike credit cards, BNPL offers simpler, targeted transactions that resonate with younger demographics and more women. It avoids the complexities and high fees associated with traditional credit cards, fostering higher adoption rates. Polish Market Dynamics: By the end of 2023, nearly 2 million Poles had used BNPL, representing 12% of active borrowers. PayPo leads the market with innovative features, while PKO BP introduces seamless banking integration for deferred payments. Challenges and Growth Potential: Despite its success, establishing a universal BNPL business model remains challenging. However, its consumer-centric approach signals continued growth, especially as it aligns with modern purchasing behaviors. The report provides a nuanced understanding of how BNPL reshapes financial landscapes, blending fintech innovation with traditional banking.
Author’s articles

We are pleased to recommend the second part of the textbook “Financial ABC: A Handbook for Educators and Teachers of Independent Youth and Guardians of Independence.” This textbook is an auxiliary material for classes on selected financial aspects of young people becoming independent. This edition is dedicated to the following topics:

Credits and loans
Shadow banking
Debt and debt recovery

The introductory and overarching topic is assertiveness. The first chapter of the textbook presents the most important topics related to assertive behavior, emphasizing that it is worth cultivating not only in relation to finances. An assertive attitude is associated with self-respect and building self-esteem, which are crucial for young people gaining independence.

In the context of finances, assertiveness helps in making thoughtful and responsible decisions at the threshold of adulthood. How young people manage their finances at this critical moment in their lives significantly impacts their well-being and future capital building.

Entering adulthood is a time to develop key competencies in personal finance management. These include the ability to make decisions about short- and long-term financial commitments, including taking out credits and loans. This topic is covered in the second chapter of the textbook.

The third chapter discusses the most important issues related to the functioning of the so-called shadow banking (gray banking), primarily non-bank financial institutions offering quick and high-interest loans. Taking on such debts, especially to pay off other debts, can lead to a debt spiral. Prevention methods, the effects of this phenomenon, and ways to get out of the debt spiral are addressed in the fourth and final chapter of the textbook.

Each chapter contains basic information on the listed topics and ends with a set of exercises for use in classes (including the purpose of the exercise, duration, and necessary aids and materials). As in the first part of the textbook, issues regulated by sometimes quite complex legal provisions are presented in a simple, accessible way. Therefore, there are some simplifications. For this reason, the textbook should not be treated as a source of information on legal regulations concerning a given issue.

Using the textbook, one can conduct a lesson dedicated to a specific topic or enrich other classes. However, it is worth having an initial conversation with young people to assess their knowledge level on the subject and adjust the language used during classes to facilitate understanding of the discussed issues. This conversation will also help prepare for countering statements such as “there’s no point in saving if you earn little” or “why plan anything when the future is uncertain.”

The second part of the textbook, like the first, is primarily aimed at educators, teachers, and guardians of independence but will undoubtedly also be useful for others. The publication allows for quick and efficient preparation for classes – some exercises, infographics, or information can be copied and distributed to participants.

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Financial ABC: A Handbook for Educators and Teachers of Independent Youth and Guardians of Independence. Part II.

Agnieszka Kulesa

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