Financial literacy is increasingly recognised as a core life skill – one that affects individual wellbeing, family stability, and wider economic resilience.

In simple terms, financial literacy refers to the knowledge and confidence needed to manage money in everyday life. This includes understanding how to budget, how to save, how debt and interest work, and how to make informed financial decisions over time.

Across Europe and beyond, studies consistently show that many people feel uncertain about managing their finances, particularly as financial products become more complex and the cost of living continues to rise. These challenges are felt across generations, but are especially relevant to young people as they begin navigating work, housing, and long-term planning.

Recognising this, the Cyprus government has introduced a National Strategy for the Promotion of Financial Literacy and Education, underlining the importance of practical money skills as a foundation for economic and social wellbeing.

As part of this wider national effort, the Cyprus Mail has partnered with the Department of Accounting and Finance at the University of Cyprus to support informed public discussion around financial literacy. The collaboration forms part of the department’s commitment to public engagement — translating academic knowledge into practical insights that can benefit society more broadly.

Sponsored by XM, a series of weekly financial literacy columns will now appear online every Tuesday. The articles explore a wide range of everyday financial topics, from saving and budgeting to understanding financial risk, long-term planning, and responsible decision-making.

The columns are written by students from the University of Cyprus’ Department of Accounting and Finance, who are studying finance at an academic level while also encountering real financial challenges in their everyday lives.

Drawing on what they are learning through their studies, the students explore practical ways to understand, manage, and respond to common money-related issues, offering informed perspectives that connect theory with lived experience. The aim is to encourage awareness, understanding, and thoughtful decision-making around money matters that affect households across Cyprus.

Financial literacy is not about perfection. It is about understanding choices, recognising risks, and developing habits that support long-term stability. By encouraging open, accessible discussion, initiatives like this help demystify money and make financial knowledge more approachable for everyone.

Follow the hashtag #χρηματοοικονομική_παιδεία and read the Cyprus Mail’s financial literacy columns online every Tuesday — practical insights to help you better understand the money decisions that shape everyday life.