Financial Literacy: a path to freedom and independence

Did you know only 18% of EU citizens have a high level of financial literacy? In this episode of The Intersectionality Lab podcast, we unpack what that really means—and why it matters for everyone. Financial literacy isn’t just about budgeting—it’s about making informed choices when opening bank accounts, taking out loans, investing, or avoiding scams. Yet studies show that women, young people, lower-income individuals, and those with less formal education often face gaps in financial knowledge. These disparities extend further, affecting people with disabilities, LGBTQ+ communities, and people of color, who encounter systemic barriers to financial education, employment, and wealth-building opportunities. With inflation, rising interest rates, and a complex financial landscape, understanding money has never been more critical. Join us as we explore how financial literacy intersects with inequality, why it’s essential for personal and collective well-being, and what can be done to empower more people to navigate their finances with confidence.  Additional resources Huff, D. & Calman, M. (1991 )."How to Lie with Statistics". Penguin books https://www.penguin.co.uk/books/13565/how-to-lie-with-statistics-by-darrell-huff-with-pictures-by-mel-calman/9780140136296 Kahneman D. (2012). "Thinking, Fast and Slow". Penguin books https://www.penguin.co.uk/books/56314/thinking-fast-and-slow-by-kahneman-daniel/9780141033570 Dunlap, T. (2022).  Financial Feminist: Overcome the Patriarchy’s Bullsh*t to Master Your Money and Build a Life You Love―A Personal Finance Handbook for Women, Mindful Spending, and Financial Literacy. Dey Street Books https://www.harpercollins.com/products/financial-feminist-tori-dunlap & https://harpercollins.co.uk/products/financial-feminist-overcome-the-patriarchys-bullsht-to-master-your-money-and-build-a-life-you-love-tori-dunlap Bruegel. (2023). The state of financial knowledge in the European Union: Gender and age disparities. Retrieved from https://www.bruegel.org/policy-brief/state-financial-knowledge-european-union European Commission. (2023, July). Financial literacy – Eurobarometer survey results. Retrieved from https://finance.ec.europa.eu/consumer-finance-and-payments/financial-literacy_en European Commission. (n.d.). Financial literacy. Retrieved from https://finance.ec.europa.eu/consumer-finance-and-payments/financial-literacy_en European Insurance and Occupational Pensions Authority (EIOPA). (n.d.). How do inflation and the rise in interest rates affect my money? Retrieved from https://www.eiopa.europa.eu/document/download/fb8310de-bcf4-410d-b9b1-f04b40b25a03_en European Securities and Markets Authority (ESMA). (n.d.). Investment, loan, insurance or pensions with a sustainable focus: What do you need to know? Retrieved from https://www.esma.europa.eu/document/download European Disability Forum. (2023). The impact of the cost of living crisis on persons with disabilities. Retrieved from https://www.edf-feph.org/the-impact-of-the-cost-of-living-crisis-on-persons-with-disabilities/ Eurostat. (2023). Disability statistics: Financial situation and poverty risk. Retrieved from https://ec.europa.eu/eurostat/statistics-explained/index.php/Disability_statistics_-_financial_situation Mercer. (2022). A new approach to financial wellness for LGBTQ employees. Retrieved from https://www.mercer.com/insights/talent-and-transformation/diversity-equity-and-inclusion/a-new-approach-to-financial-wellness-for-lgbtq-employees/Williams Institute. (2019). National LGBTQ+ poverty study. Retrieved from https://williamsinstitute.law.ucla.edu/publications/national-lgbtq-poverty-study/