Are young people prepared to manage their first salary? Banco de Portugal uses a competition to warn about the lack of financial literacy

Banco de Portugal has launched a competition, 'O Meu Futuro Financeiro', for higher education students to practice managing personal finances, such as budgeting, credit, and investments. The initiative aims to address a systemic gap in financial literacy among young people entering the workforce, who often lack knowledge of tax and financial risk management.