Small steps add up: the power of financial education
In today’s digital world we’re constantly surrounded by all kinds of financial content: data, trends, advice... So much, in fact, that we can end up feeling overwhelmed or thinking that economics and finance are just for experts. And yet, we are constantly making financial decisions that affect not only our wallets, but the broader economy too. Are we really aware of those choices? How do we make them – and why? And what if we could make better ones? Let’s find out together.
15/10/2025
“When it comes to making big decisions – like taking on debt – the dizzying pace of the digital world isn’t always your best ally. It is better to take your time, crunching some numbers at home and talking it over with someone you trust before making the call.”
Education helps us get on in the world. But if we truly want to thrive, we need a solid financial education too.
Roberto España, head of the Banco de España Financial Education Division, puts it clearly: learning to manage our money is essential, not just to avoid surprises month after month but also to build the life we want year after year.
How? First, by becoming financially aware, recognising how everyday choices impact our financial health.
We often think financial decisions are only about big things like signing a mortgage. But the truth is that even small decisions add up and affect our financial situation. And because we all have behavioural biases, we may end up making choices that aren’t right for us. Are you aware of your biases?
Having reliable and verifiable information is also key. The internet is full of advice, but we all have different backgrounds, knowledge and circumstances – so not all strategies work for everyone.
You don’t need highly advanced knowledge to be financially literate: having some basic maths skills (enough to figure out the best pizza deal) and getting to grips with a few paragraphs and resources like Finance for All (in Spanish) and the Bank Customer Portal are more than enough to get started.
You won’t get rich overnight, like some dubious videos claim, but you’ll have control over your finances and be able to pursue your life goals with confidence, building a savings cushion for tough times or emergencies. You’ll make smarter decisions, avoid financial fraud and, ultimately, be able to live your best life at every stage – whether that means travelling, studying or accomplishing any other personal dream.
Notes
This episode was recorded in the Salón de Actos conference room, formerly known as the Salón de Juntas, where the General Meeting of Shareholders used to be held every year. This Meeting was responsible for approving all the Bank’s major decisions until it was nationalised in 1962.
