The National Bank of Ukraine launched a new specialized section "«To the defenders and their families"» on the financial literacy website "«OK"».
The section was created as part of the project “Financial Literacy for Defenders of Ukraine.” It aims to improve the level of financial knowledge of military personnel, veterans, and their family members, help them effectively manage their finances, avoid financial risks, and build long-term financial security.
The section already has over 80 information materials on financial literacy. In addition to articles, it contains practical recommendations. In particular, checklists, step-by-step algorithms of actions, instructions, templates for financial planning, as well as a navigator with a list of useful contacts and online resources. The materials are combined into eight thematic blocks. In particular, finances during service, budget and savings, banking services, loans and debts, insurance, protection against fraud, for veterans and families of defenders about finances.
The section contains answers to key financial questions. In particular:
- how to effectively manage personal and family finances during military service, plan a budget and create savings;
- how to use special banking programs, credit benefits, and insurance services for military personnel and veterans;
- how to control loans, deposits and other financial obligations and interact with financial institutions;
- how to protect yourself and your family from fraud, fake fees, and loss of access to accounts due to military circumstances;
- how veterans and their family members can receive grants or preferential financing and start their own business;
- How can a family organize a family budget when a loved one is in the military and maintain financial stability?.
The information provided in this section will enable military personnel and veterans to make informed financial decisions at various stages – during service, during the adaptation period, and after returning to civilian life. It will also help maintain the financial stability of families in times of war.
The content of the section will be constantly updated taking into account the current needs of defenders and their families.
What requests from soldiers and their families regarding financial education are reflected in the chapter?
Before launching a new section on the site «OK» The National Bank, together with partners, conducted a survey to understand the educational needs and financial issues of greatest concern to military personnel, veterans, and their loved ones. The survey included 1,013 respondents, including active duty military personnel, veterans, and family members of service members.
The results showed that almost half of the respondents rate their level of financial literacy as average, and 31% respondents admit that their financial knowledge is low or very low. The biggest difficulties relate to such challenges as loans, debt management, understanding financial benefits, fraud protection and family budget planning. You can read the report on the detailed survey results here.
At the same time, the survey revealed a willingness to learn and a request for practical, applied information adapted to real-life situations in managing personal and family finances.
The study was conducted in two stages. In the first stage, the National Bank collected data from financial market participants to understand what questions and problems military personnel, veterans, and their families most often ask. The second stage involved an online survey of the defenders themselves and their loved ones, which allowed combining professional vision with personal experience and obtaining a holistic picture of the financial challenges faced by defenders and their families. Participation in the survey was voluntary, free of charge, and anonymous.
The results of the study became the basis for creating a new section on the website «OK». The materials are adapted to real-life situations and will allow military personnel, veterans, and their families to confidently navigate financial issues that affect their lives and well-being every day.