Financial literacy in Hungarian libraries: Survey-based steps for implementation

Abstract

In Hungarian libraries, the development of financial literacy (FL) is either not present at all or is very low in intensity. The Hungarian government strategy does not involve libraries in FL development. Based on the dissemination of information and digital literacy, there are numerous good examples worldwide proving that libraries, reaching all of their users, can effectively take part in financial education and, built thereon, business development and business information services. This can increase their social recognition and even supplement their funding. In 2022, for the first time in the country, the authors conducted a survey among Hungarian librarians to assess the current situation, to identify what hinders the expansion of services related to FL, and what tasks should be performed and what innovations should be introduced in libraries. The survey also seeks to define which fields of competence are to be acquired by librarians. It also reveals the forms of external professional cooperation that are necessary to organise library programmes strengthening financial awareness. The results provide valuable information not only for Hungary, but also internationally, since they showcase the challenges that the library system of a former socialist country in Europe faces after three decades of market economy in this current, market- and profit-oriented world.