A Study on Adult Financial Literacy in Malta 2024

This national research study carried out with Maltese residents aged between 18-79 years, formed part of an international study of adult financial literacy, led by OECD’s International Network on Financial Education (INFE) arm amongst 37 countries in 2023. Malta participated in the 2018 and 2023 OECD/INFE international surveys of adult financial literacy. In this Report,…

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ĠEMMA launches the OECD research on adult Financial Literacy

Malta through ĠEMMA has participated in the the Organisation for Economic Cooperation and Development OECD/Internation Network for Financial Education (INFE) international research for measuring financial literacy and financial inclusion with research carried out by market research agency, M.FSADNI & Associates. Wednesday 6th March saw the launch of the outcomes of the OECD adult financial literacy…

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Empower Your Finances with Our New Debt Management Section

We’re excited to introduce the Debt Management Section on our website. Our comprehensive Debt Management Section is your destination for practical information on effective debt management. Discover budgeting tips and advice on debt management through these articles that will greatly help your day-to-day debt management. Understanding and managing debt is key to achieving financial well-being.…

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ĠEMMA – Financial Literacy Quiz – Your chance to win €100 gift voucher!

This multiple-choice online quiz features seven engaging questions covering essential topics like pensions, budgeting, and saving. Achieve the perfect score and you’ll earn a chance to enter our exciting competition, where you could win €100 worth of One4All Gift Vouchers! To participate, visit this page https://docs.google.com/…/1FAIpQLScbu2T29V6GOZ…/viewform Each participant can participate in the quiz only once…

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Private Pensions – A Summary

Malta, like many other countries is facing challenges due to its aging population and this is increasing the burden on the state pension system. Starting a private pension plan is becoming increasingly important to secure an adequate standard of living after retirement. Private pension plans might offer tax rebates and financial security without affecting the…

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Loans and Debt

What is a loan? A loan is an arrangement under which a lender allows another party the use of funds in exchange for an interest payment and the return of the funds at the end of the lending arrangement. Generally when we speak about a loan we are referring to a sum of money that…

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ĠEMMA & Skolasajf 2023

This year’s edition of Skolasajf organised by the Foundation for Educational Services was “Peace by Piece”. The theme encourages people to do their part, no matter how small, as everyone’s contribution will impact our overall well-being. The collaboration of ĠEMMA and HSBC Malta Foundation aimed at teaching the children to become more aware of the…

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ĠEMMA and HSBC Malta Foundation host quiz showcasing students’ financial knowledge

Some of Malta’s best and brightest young minds put their financial skills to test in the second Financial Literacy Quiz recently organised by ĠEMMA and the HSBC Malta Foundation. The event was open to students in Years 7 and 8 and saw the participation of students from International Independent Boarding School, St Martin’s College, St…

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Il-gost jew l-imrar ta’ wara ġita

Aktarx, l-aktar ħaġa popolari llum wara karozza u ċellulari sar is-safar. Le ma nsejtx ix-xiri ta’ dar, iżda din kienet prijorità fil-ġenerazzjonijiet ta’ deċenji ilu. Fejn li jkollok darek kienet tfisser pride, sigurtà, impenn, il-vetrina li tirrappreżenta ħajjitna. Illum l-importanti għal bniedem sar hu (innifsu) u li jgħix il-mument. “Għada min rah!”… Iżda għal min…

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What is the difference between a ‘With Profits’ and a ‘Unit Linked’ Investment?

Life Insurance companies generally offer two types of investment vehicles. These are called with profits investments and unit linked investments. But what are the main differences between these two? With Profits A with profits investment is generally a capital guaranteed investment and builds its value from annual bonuses paid by the insurance company. These bonuses…

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Minister for Social Policy and Children’s Rights Michael Falzon gives opening remarks at the European Network Conference on Debt Advice Development

The European Consumer Debt Network (ECDN) https://ecdn.eu/ held its European 2023 Conference at the Salini Resort Hotel on the 23rd March. This was a hybrid format full-day event with speakers and participants hailing from different European countries, taking part physically and online. The conference focused on EU funded project for the Provision of a European…

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Low cost easter lunch

Appetizer – Classic Devilled Eggs These devilled eggs are delicious. Top them with different combinations to keep your imagination running and your guests’ taste buds rejoicing. Our devilled eggs recipe gives you a creamy taste that no one can resist…so be warned, once you put them down on the table, they will not be there…

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ĠEMMA and Malta Bankers’ Association launch 2nd project on digital financial literacy amongst pensioners

PRESS RELEASE February 2023 Following the successful collaboration between ĠEMMA and the Malta Bankers’ Association (MBA) in delivering a financial literacy pilot project for pensioners, that ran last October 2022 at Paola Local Council, further sessions on Digital Financial Literacy for pensioners will commence again as of the 1st of March 2023. The feedback resulting…

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Il-fuljett tal-Ministeru għall-Politika Soċjali u d-Drittijiet tat-Tfal; FAMILJA AĦJAR

Dan huwa t-tieni fuljett tal-Ministeru għall-Politika Soċjali u d-Drittijiet tat-Tfal; FAMILJA AĦJAR. Dan is-suppliment annwali għandu l-għan li joħloq għarfien dwar il-miżuri mħabbra fl-aħħar budget fi tmiem is-sena preċedenti. F’din it-tieni edizzjoni qed ikunu ippreżentati 21 miżura li jolqtu direttament jew indirettament lil familji u/jew individwi Maltin u Għawdxin fis-saffi kollha tas-soċjetà. Nittamaw li ssibu…

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ĠEMMA and the generations

Financial capability is made up of several factors. The key elements are: Ability – focused on financial knowledge and skills Connection – our engagement with money and access to financial services and products Mindset – Our values and attitudes towards money These three factors interact to influence a child’s financial behaviour. Research suggests mindset and…

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Turning 18? Kickstart your financial journey!

You’re 18, an adult and your life and priorities are changing fast. Money is a central part of your life and so is knowing how to make and manage it. It’s easy to feel pressured to fit in – to spend like your friends or get stuff you’ve seen on TikTok. But hey, don’t fall…

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Skolasajf students showcase their creativity in HSBC backed recycling competition – 6th September 2022

ĠEMMA, in collaboration with HSBC, has announced the winners from Skola Sajf Earth Hero on a Budget competition which saw over 2,000 children in 327 teams create Superhero costumes with a budget of just €1.50. The winning group from Żejtun primary school was called Ninja Timmy and its members were Ġiuseppe Duca, Kayne Muscat, Joel…

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Some Pension Tips for Women

Women on average will retire with significantly less money than men, according to studies conducted worldwide, and some one-third of women rely on their partner’s pension as their main source of funding in retirement.  This is putting many women in a vulnerable position, especially if they were to separate or divorce – they may find…

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Saving Money for a Rainy Day and the Ensuing Economic Tsunami

High-interest rates discourage investments due to high borrowing costs. Inflation, on the other hand, discourages people from spending as they can buy less with the same amount of money. Central banks use interest rates as a medicine to cure inflation. However, the medicine doesn’t seem to work. Even though the Federal Reserve has increased interest…

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PRESS RELEASE: ĠEMMA Launches VORPS training sessions

ĠEMMA Know, Plan, Act within the office of the Permanent Secretary of the Ministry for Social Policy and Children’s Rights and EMCS Academy, within EMCS Ltd, recently delivered a series of training sessions targetting Human Resources Managers, CEOs and Managing Directors introducing the integration of Voluntary Occupational Retirement Pension Schemes (VORPS).  The Ministry through ĠEMMA…

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ĠEMMA’s webinar on Putting Retirement on a Young Person’s Radar

ĠEMMA’s webinar on Putting Retirement on a Young Person’s Radar tackled the paradox that young people need to plan for their retirement at a time when they have significant pressure on their limited finance, priorities to get on the property ladder and naturally enjoying their new found freedom and youth. This notwithstanding, financial freedom in…

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66 Years of Social Security

Social Security has provided financial protection for our people for over 66 years. For over 66 years, the Department of Social Security and relatively recently the Income Support and Compliance Division, have catered for the social rights of the Maltese and other residents of the country. Since Malta’s accession to the EU, they cater also…

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Saving for a Rainy Day!

Let’s just assume for a second that you are managing your income, budget, and mapping out all your spendings and expenses every month. You’ve got your ‘planned’ expenses such as insurances, memberships, subscriptions, meals etc. covered. If, however, your car suddenly breaks down or your laptop doesn’t switch back on – would you have enough…

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Cost of Living Increase

Cost of living increase, and in its abbreviated terms, COLA, adjusted yearly according to the yearly budget, is an increase in income to mitigate rising prices and to maintain a specific standard of living. The adjustment to the cost of living comes into effect in January of the following year. A full-time employee is entitled to the full increase,…

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Buying a car

Buying a car is exciting but it also brings other financial obligations with it. So before getting behind the wheel, think about other associated costs. Where to start? 1. Choose the right car for you Find a car that matches both your budget and driving habits. You may be able to find a used car…

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2022 Pension Payment Dates

download for free We have created a downloadable 2022 calendar showing the contributory benefits pay dates. How are State Pension payments made? Pension payments from the Department of Social Security are paid in advance, every four weeks. This totals to thirteen payments per year, for the rest of a person’s life. What do pension payments…

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ĠEMMA on Various Portals

The launch of Financial Capability Drive between ĠEMMA, CARITAS and HSBC Malta Foundation on various portals. Financial capability drive held between GEMMA, CARITAS and HSBC Malta Foundation Newspaper: maltatoday; Date: 6th February 2022 http://weekly.uhm.org.mt/en/article/hidma-ta-tahrig-u-xprunar-fil-kapacita-finanzjarja-bejn-gemma-caritas-u-l-fondazzjoni-hsbc-malta/ Financial Capability Drive held between Ġemma, Caritas and HSBC Malta Foundation Hidma ta’ taħriġ u xprunar fil-Kapaċita` Finanzjarja bejn ĠEMMA, CARITAS…

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LAUNCH: Financial Capability Drive held between ĠEMMA, CARITAS and HSBC Malta Foundation

As part of its outreach programme, ĠEMMA in collaboration with CARITAS and the HSBC Malta Foundation is launching another initiative to continue emphasising the importance of financial capability amongst the local community. This new Financial Capability Training programme will see ĠEMMA train more than 52 CARITAS volunteers who are well conversant with community work, to…

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Think twice – harnessing the impulse purchase instinct

“Wow…it looks so nice”. “What a great discount”. “I must buy this one”. Such thoughts frequently pass through our mind. These feelings are normal and shared by many. As consumers we find novel products very tempting. The possibility of buying an item less than the original listed price is equally appealing. The pressure to follow…

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The importance of knowing your money personality Money Matters and the Family – Part 7

It is essential to understand your and your spouse’s “money personality,” as we all have a unique way how we think about money — often shaped by how we were raised as a child. And our life experiences can cause us to feel specific patterns when it comes to spending or falls into certain habits.…

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Understanding Retirement

It’s important to take the time to understand the various aspects and issues of retirement. A deeper understanding of retirement realities and current and future possibilities, taking into account our needs and wants, will enable us to have a better picture and successfully plan the best course of action for a comfortable retirement. Your Life…

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What leads to family arguments about money – Money Matters and the Family – Part 3

There are many reasons why arguments arise within a family on money management. This article is based on articles by Investopedia (www.investopedia.com/articles) that discuss money issues in families. Investopedia establishes the following as the most common financial issues that challenge married couples: 01. What's Mine, Yours, Ours Sometimes, when each spouse works and cannot agree…

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Do Money Problems lead to divorce? Money Matters and the Family – Part 1

A study in the UK by Slater and Gordon, carried out in 2018, found that money worries top the list of reasons married couples split up. Over a third of those questioned said that financial pressures were the biggest challenge to their marriage, while a fifth said most of their arguments were about money. One…

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Understanding Debt

This is one of the videos we have produced with the Central Bank of Malta in our budgeting series. Watch the Central Bank of Malta and ĠEMMA Video on ‘Managing your debt’ below or follow this link to watch it on YouTube. View this ĠEMMA video by clicking on the above  and learn more about…

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Want to be come an Influencer?

In a world dominated by social media, influencers are celebrities in their own right. It is not uncommon to see Instagram influencers with hundreds of thousands — or even upwards of one million — followers. How do influencers make money with their large followings? Also, how can you be sure you are following ethical influencers…

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Lördagsgodis: Sweden’s Saturday-only candy tradition

Swedish children look forward to the weekend for their once-weekly candy fix. But beyond being a treat, these Saturday sweets teach a bigger lesson. Source:- https://www.bbc.com/worklife/article/20211004-lrdagsgodis-swedens-saturday-only-candy-tradition On a Saturday afternoon, the cobblestones of Stockholm’s Liljeholmen square are abuzz with families weaving in and out of the local shopping mall. Look closely, and you’ll spot children…

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ĠEMMA on PRIME TIME

ĠEMMA, the Government initiative within the Ministry for Social Justice and Solidarity, the Family and Children’s Rights and the popular PRIME TIME programme have teamed together to exhibit in a creative style the educational work that ĠEMMA has been implementing on financial capability. These short televised sessions conducted by the renowned Owen Bonnici will be…

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How to spot fake messages and avoid a Gumtree scam?

Do you use Gumtree to buy or sell online?  If you do, note that Gumtree has about two million ads live at any one time, it’s going to be hard for Gumtree to stop every fake ad or take down every copycat site instantly….so being aware of what to look out for is going to help keep your cash in your account.  url: https://www.gumtree.com/ So, here are some of the Gumtree scams:  Fake Gumtree websites Gumtree say they will take…

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ĠEMMA LAUNCHES FUN EDUCATION EBOOKS ON FINANCIAL CAPABILITY BY USE AND PARENTS

The national Strategy for Retirement and Financial Capability recognises that the early inculcation of financial capability core skills (budgeting, planning, saving, value of money, financial resiliency, planning for the future, digital financial literacy, financial abuse, and consumer financial right), in children, is more likely to have long term positive effects than seeking to instill them…

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Going Abroad

This is one of the videos we produced with the Central Bank of  Malta in our budgeting series. Let me introduce the ĠEMMA family.  I am Tony.  I am Maria’s husband.  I work as a manager in a large business in the services industry.  My wife, Maria is 40 years old and works in my father’s family business.  We have two kids:  Matthias, our son who is 11 years old, and…

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Identity Theft Scam

Do you know how to protect yourself against scams and fraud?  Want to know more?  Download our latest Infographic. Identity theft is the deliberate use of your identity in order to take over or open new accounts, buy goods online, carry out online gaming or rent or buy properties or do other criminal things in…

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Online Selling Scam

Fake websites are one of the largest types of online scams. But what do they do? Scammers set up fake retailer websites that look like genuine online retail stores. They may use sophisticated designs and layouts, possibly stolen logos, and a ‘.com’ of a major country domain. Many of these websites offer luxury items such…

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Mobile Phone Scams

Do you know how to protect yourself against scams and fraud?  Want to know more? Well today practically everybody and his / her dog has a smart phone.  Given the many affordable Internet based subscriptions provided by mobile operators in Malta most people today use mobile phones not only to communicate but also to bank,…

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Anti Virus Scam

Has this ever happened to you? You are browsing online when a pop-up ad appears on your screen warning you that your computer is infected with dozens of viruses. The ad says that you can remove them by buying antivirus software that will immediately eliminate them – and certain versions are designed to disable legitimate…

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Ben Camille on Scams and Frauds

This is the seventh video that Ben Camille and ĠEMMA produced together.  In this video Ben Camille discusses his experience with scams and frauds and discusses measures that we all should follow to protect ourselves from being scammed. Amongst the matters which Ben Camille brings up is how to make sure you are not communicating…

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Money Mules

View our infographic and continue reading below! Once scammers get a victim’s money, they are far from done. They often need to move the money – and they are not going to do it themselves. That is where they employ the help of others – some knowingly, but many not: “money mules”. A “money mule”…

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Free Streaming Sites Scam

The rapid increase in subscribers of streaming services such as Netflix and Disney+ has rendered the streaming market an attractive target to scammers. And so … you are browsing through the Internet and you come across a streaming platform. It looks just like other major streaming platforms, even if the web address and logo look…

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Senior banker ‘taken aback’ by financial abuse of the elderly in Malta

The number of cases is significant – HSBC Malta CEO https://timesofmalta.com/articles/view/senior-banker-taken-aback-by-financial-abuse-of-the-elderly-in-malta.888283 Elderly people are facing financial abuse, including by their own family members who help themselves to their savings, deposits and bank cards, a senior banker has warned. Simon Vaughan Johnson, who heads HSBC’s Malta operations, told financial practitioners earlier this month that he had…

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Phishing Scam

Scammers use email or text messages to trick you into giving them your personal information. They may try to steal your passwords, account numbers, or Social Security numbers. If they get that information, they could gain access to your email, bank, or other accounts. Phishing emails and text messages may look like they’re from a…

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Business e-Mail Scam

A business email compromise (BEC) fraud is an online scam where the scammer impersonates a business representative and tricks you into transferring money or sensitive information. The scammer impersonates a trusted person using an email that is almost identical to the trusted person’s name, or a domain that is identical to the name of the…

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Ġemma and the eSkills Malta Foundation

Learning how a scam works https://timesofmalta.com/articles/view/learning-how-a-scam-works.885766 Recently Malta has seen a spate of scams – including phishing, romance fraud and business e-mail fraud. Newspapers have reported that one business lost nearly €90,000 as a result of a business e-mail fraud, and many people were defrauded over €100,000 by the Maltapost phishing scam. Last summer, Ġemma…

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ĠEMMA on BENNA!

As part of its various initiatives, ĠEMMA within the Ministry for Social Justice and Solidarity, the Family and Children’s Rights has embarked, for the month of July, on a widespread campaign by means of its adverting presence on the BENNA milk cartons. Through this marketing campaign ĠEMMA endeavors to penetrate the  majority of the Maltese…

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Smishing Scam

In the past weeks, Malta experienced a number of scams and fraud.  The latest one was an email and SMS where scammers positioned themselves as the Malta postal service informing persons that they were unable to complete the parcel delivery due to an underpayment, of shipping fees before directing them to click a link to…

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Press Statement – Local Councils Association enters into a Strategic Partnership with MSFC and ĠEMMA on financial capability education

Local Councils Association enters into a Strategic Partnership with the Ministry for Social Justice and Solidarity, the Family and Children’s Rights and ĠEMMA on financial capability education The Ministry for Social Justice and Solidarity, the Family and Children’s Rights and the Local Councils Association today signed a strategic partnership to jointly work together, through ĠEMMA…

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ĠEMMA Launches its ĠEMMA FTIT 2 Interactive Play Educational Video

ĠEMMA Launches its ĠEMMA FTIT 2 Interactive Play Educational Video: Introducing Money Management Skills to Students from Level 7 to Sixth Formers Last year ĠEMMA launched the first interactive play education video on financial capability called ‘ĠEMMA Ftit’.  The objective of the play was that of exposing the target audience – primary school pupils –…

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ĠEMMA’s Scams and Fraud: Holiday Fraud

Do you know how to protect yourself against scams and fraud?  Want to know more?  Download our latest Infographic. A good number of people today book their holiday online end-to-end:  air ticket, car, train tickets, museum tickets, hotel, shows and concerts, etc.  Keep in mind that as e-tourism has become big business, the scamming online…

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Strategic Partnership with Mental Health Services within the Ministry of Health

ĠEMMA is pleased to announce that it has developed a strategic partnership with Mental Health Services (MHS).  The objective of this partnership is to assist, design and implement a financial capability programme for MHS service users – targeting persons with a mental health condition living in the community.  The partnership aims towards improving service users’…

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ĠEMMA in April’s Sagħtar Issue: Learning to Count Money

ĠEMMA has once again participated in Sagħtar. In the April issue (https://saghtar.org.mt/edizzjonijiet-godda-tas-saghtar-2020-2021/) ĠEMMA’s article was directed towards showing young kids how money is counted. The article introduces and explains the Euro coins and notes used and shows how coins, notes, and notes and coins are to be counted. You can follow the article with you…

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Ben Camille explains the Importance of Budgeting

This is the second video that Ben Camille and ĠEMMA produced together.  Ben Camille and Xtrina discuss their experiences with budgeting: When Ben Camille and Xtrina recognised the importance of budgeting. The importance of budgeting household expenses so that Ben and Xtrina remain on top of things. Why Ben Camille and Xtrina decided to keep track of their expences. Why Ben Camille and…

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Windows 10 Machine Security Guidebook

As you will quickly realise a good number of the scams and frauds discussed in the Little Black Books are the result of hacking of your computer, tablet, and mobile through the Internet.  Once the scammer gets access to your device s/he will practically do what s/he wants – scrummaging your records for personal and financial information as well as changing the security and settings of your device so that s/he can access it a will.…

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Easy Steps to Protect Yourself Against Scams and Fraud: Securing your Windows 10 Machine

Click on this link to download the Windows 10 Machine Security Guidebook.  Also, have you followed our Little Black Books on Scam and Fraud series? As you will quickly realise a good number of the scams and frauds discussed in the Little Black Books are the result of hacking of your computer, tablet, and mobile through the Internet.  Once the scammer gets access to your device s/he will practically do what s/he wants – scrummaging your records for personal and financial information as well as changing the security and settings of your device so that s/he…

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Financial Capability Fun Books Education Competition: Announcing the Results

Financial Capability Fun Books Education Competition:  Announcing the Results In August 2020, ĠEMMA within the Ministry of Solidarity and Social Justice, the Family and Children’s Rights and the Department of Learning and Assistance Programmes within the Ministry for Education launched a Financial Capability Fun Books Education Competition. The purpose of the competition was to attract…

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ĠEMMA’s Participation in the 2021 European Money Week

Financial Literacy: A Lifelong Experience Tuesday 23rd March 2021 Teachers’ Training Programme click to view ĠEMMA is on Tuesday 23rd participating together with the JAYE Malta Foundation in a Teachers’ Training Programme on financial literacy directed.  The session is titled ‘Financial Literacy:  A Life Long Experience’.  The Programme is organised by the Malta Bankers Association…

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ĠEMMA is on SAGĦTAR – A note for the Parents / for the Teachers

We all practice money management, most of the time continuously, having to make the best of our financial resources. So acknowledging the skill of money management as important as learning other subjects.  At times we fall into the trap of saying that our kids are too young to appreciate the value of money but children…

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PRESS STATEMENT

ĠEMMA within the Ministry for Social Justice and Solidarity, the Family and Children’s Rights Teams up with the Chamber of SMES for the provision of financial capability coaching to self employed persons and small business owners Being self-employed definitely has its advantages – for one, you are your own boss.  Yet you are also likely…

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Research Analysis on Preparing an ESF co-financed Campaign on Financial Capability and Widows and Widowers

ĠEMMA publishes the Research Analysis on the Preparation of an ESF co-financed Campaign on Financial Capability and Widows and Widowers.  The Research Analysis report identifies the following key points: The expenses of most participants related to household maintenance and healthcare. Only a very small minority mentioned travelling for leisure. The financial assets and resources for…

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Research Analysis on the ESF co-financed Campaign on Financial Capability and Tertiary Education Students

ĠEMMA publishes the Research Analysis on the ESF co-financed Campaign on Financial Capability and Tertiary Education Students.  The Research Analysis report identifies the following key points: There is a general consensus that life goals and lifestyle played an important role in defining financial capability. There is a unanimous consensus that a monthly income is an…

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What makes a Self-employed Business Owner Financially Capable?

Are you self-employed? Do you know what makes a self-employed person financially capable? A study titled ‘Financial education for entrepreneurs’ (ACCA – 2014) concludes that a self-employed business owner to be financially capable must be able to: Distinguish between personal and business finances. Be a competent buyer of financial services – understanding financial products, their…

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What ĠEMMA readers want to know

and more ĠEMMA has designed an FAQ page equipped with a comprehensive collection of valuable information to answer many of your frequently asked questions related to pensions and money management. We did not guess what topics we should cover but instead we framed the questions just as the users have asked them.  They are specific, to the point and…

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Understanding Money Management across Different Life Stages

Your attitude to money management is not the same across different stages of your life.  Indeed your attitude to money management changes as you grow older and you assume greater life responsibilities.  The stages in your life journey when it comes to money management are basically 5. The Table below presents how your attitude and…

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Money Management Rules of Thumb for Teenagers and Young Adults are to Follow

This post presents money management Rules of Thumb for teenagers and young adults are to follow. Rules of Thumb are useful short-cuts that nudge people of all ages and in different contexts to make financial decisions. Research overseas shows that most young people welcome tips and Rule of Thumb guidance to help them manage their…

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Paying Off your debt

The first step is to check how much debt you have, and what sort it is. The high-interest debt costing you the most is the priority, not the no- or low-interest stuff. Loans that don’t charge high interest or fees are okay for now you should consider as a lower priority. It is s the…

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ĠEMMA and GWU

ĠEMMA is pleased to announce that the General Worker’s Union as part of implementing its Strategic Partnership with us has included a section on ĠEMMA in its new portal gwu.org.mt. The section on ĠEMMA is accessed by means of clicking on the ĠEMMA icon – as shown below: In the ĠEMMA section you will find…

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Getting your debt under control

The following are ĠEMMA tips directed to help you to get your debt under control. 01. Get a clear understanding of what monies you owe. This is the first step – taking stock.  Put together a clear picture of your debts as well as (a) the minimum monthly repayment obligations.  Include credit cards, loan repayments,…

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ĠEMMA Financial Capability Awareness Campaign for Disabled Persons

The Handbook is in Maltese and provides guidance and tips in relation to: Importance of budgeting. Avoiding debt. Increase your abilities to increase your earnings. How to seek employment. How to save. Seeking independent living accommodation. Obtaining the EU Disability Card. Use of Assistive Technology. Social benefits you are entitled. Other benefits you are entitled…

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What Factors should I consider before I decide to Invest in a Personal Pension Plan?

Prior to investing your savings into a private retirement pension product or any other savings or investment product, it is important that you think carefully about your unique needs and overall financial situation.  This will allow you to determine whether the investment is right for you.  The following are matters you should take into account:…

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GEMMA Fun Book Education Competition

Over 51 entries were entered  by 36 different authors in the ĠEMMA Financial Capability Education Fun Books Competition which closed on the 30th September 2020. The stories needed to cover topics related to financial capability like managing a debt; budgeting; building a safety net; planning for the future; underdstanding basic investment and understanding basic consumer…

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Self-Employed

ĠEMMA is running a financial capability education campaign that is co-financed under the European Social Fund.  The campaign is directed towards different 14 categories of persons.  As part of its campaign ĠEMMA has launched the following handbook titled ‘Taħdem għal rasek?’ providing guidance and tips to persons who are self-employed on financial capability and money…

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Hon Michael Falzon inaugurates students exhibition for GEMMA initiative

The Poster Competition Award Ceremony took place on the 22nd September at Esplora Interactive Science Centre in Kalkara. Minister for the Family, Children’s Rights and Social Solidarity Michael Falzon praised this initiative and the collaboration of partnerships between ĠEMMA, HSBC Malta Foundation and the Directorate for Learning and Assessment Programmes.  He also stressed the importance…

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Understanding Key Factors that may Impact your Retirement: Inflation (1)

In a recent post, we discussed how life expectancy could impact your retirement planning. There are other key factors to take into account when planning for your retirement. The first is inflation.  Inflation represents the general sustained increase in prices resulting from the demand for goods.  Obviously, the prices of selected goods may increase for…

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ĠEMMA Financial Capability Awareness Campaign for Persons Employed with a Family Business

ĠEMMA is running a financial capability education campaign that is co-financed under the European Social Fund.  The campaign is directed towards 14 different categories of persons.  As part of its campaign ĠEMMA has launched the following Handbook titled ‘Taħdem fin-negozju tal-familja?  Il-bolla hija mod ta’ kif tassigura l-pensjoni tiegħek.  Hallasha!’ directed towards persons who are…

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Financial Capability Awareness Campaign for Persons who are Unemployed

ĠEMMA is running a financial capability education campaign that is co-financed under the European Social Fund.  The campaign is directed towards 14 different categories of persons.  As part of its campaign ĠEMMA has launched the following Handbook titled ‘Sibt ruħek bla xogħol u għandek loan?, directed towards unemployed persons. The Handbook is in Maltese and…

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Back-To-School

Going Back to School is an exercise in planning and preparation which helps to reduce any anxiety that it may cause. Especially in uncertain times such as these, proper planning helps to prioritise and avoid any surprises. On the 25th of August, 6 panellists discussed their opinions, useful tips and shared their experiences on how…

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Rent and Electricity Refund Scheme

On the 8th of June 2020, the Maltese Government announced an economic regeneration plan aimed to revive Malta’s economy after the COVID-19 pandemic-induced economic slowdown. Following the announcement of such plan, the Maltese Government recently launched details relating to the Rent and Electricity Refund Scheme. Over 20,000 enterprises that have been granted the COVID Wage Supplement will be able to apply for a…

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ĠEMMA Handbook for Persons on Low Income

ĠEMMA is running a financial capability education campaign that is co-financed under the European Social Fund.  The campaign is directed towards 14 different categories of persons. As part of its, campaign ĠEMMA has launched the following Handbook titled ‘Kief tieħu ħsieb flusek jekk id-dħul tal-famila huwa baxx’ directed towards persons in low employment income. The…

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Financial Capability Education Fun Books Competition

Ministry for the Family, Children’s Rights and Social Solidarity – ĠEMMA Ministry for Education and Employment – Directorate for Learning and Assessment Programmes Financial Capability Education Fun Books Competition ĠEMMA Know, Plan, Act within the Ministry for the Family, Children’s Rights and Social Solidarity and the Directorate for Learning and Assessment Programmes within the Ministry…

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ĠEMMA & Presentation of 5 Gift Vouchers

ĠEMMA Know, Plan, Act has today presented 5 gift vouchers of €100 each to 5 winners at the Ministry for the Family, Children’s Rights and Social Solidarity. The Ministry’s permanent Secretary Mr Mark Musu presented the vouchers to the winners. These vouchers are to be redeemed at the Park Towers Supermarket of both Santa Venera…

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ĠEMMA Research: Post-secondary School Students

ĠEMMA in 2019 launched an EU ESF co-financed financial capability directed towards 14 groups which were identified through consultation when the Retirement and Financial Capability Strategy (2017-2019) strategy was being drafted. Post-secondary School Students are identified as a vulnerable group with regard to financial capability.  This research was commissioned to assist ĠEMMA in designing a…

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