Financial education is not a technical or side issue, it is an essential tool for progress. In every society, knowledge enables people to make informed decisions, foresee risks and seize opportunities. Ultimately, understanding how money works (its creation, use and transformation) is to understand an essential part of our economic and social being.

Economist John Maynard Keynes once wrote that “the difficulty lies not so much in developing new ideas as in escaping from old ones”, and finance is no different. While the world has changed profoundly, our ability to understand it has not always kept pace. The gap between the complexity of the financial system and people’s readiness to navigate it remains one of the defining challenges of our time.

This report provides a rigorous insight into that challenge. It examines levels of financial knowledge and confidence across 10 countries and clearly shows that access to financial education remains limited, despite a growing appetite to learn. Its findings confirm what many of us have always thought: that people’s financial wellbeing is closely linked to their ability to understand, plan and make sound decisions. It also reveals that financial education is a shared responsibility. Governments, schools, families, businesses and banks must work together to ensure that knowledge reaches everyone from childhood through to adulthood.

For Santander, promoting financial education is not a one-off initiative but an ongoing responsibility. As a bank, we help millions of people and businesses with their daily decisions. 

That’s why we believe our commitment must go beyond providing products and services to also offer the tools that help people understand them. We have supported education in all its forms for over three decades, investing more than €2.4 billion in educational projects worldwide. In 2024 alone, over 4 million people worldwide accessed our financial education initiatives and content. This effort stems from a deep conviction: that economic progress is only sustainable when it rests on a solid foundation of knowledge and trust.

I am convinced that a more informed society is also a freer and more prosperous one. Because knowledge, when shared, multiplies its value. And if that knowledge helps more people understand, manage and improve their financial wellbeing, we will be contributing to a goal that stretches far beyond banking: sustainable progress of all.