Code: 4.7.2 · Children and youth
Code: 4.7.2 · Children and youth
Aware that spending decisions can be influenced by others, including friends (peer pressure), social and other media, and advertisements
Aware that personal financial decisions can be influenced by emotions and behavioural biases (e.g. fear of missing out, herding behaviour, overconfidence or lack of confidence etc.)
Aware that advertisement and social media can seek to exploit certain emotions and can amplify certain behavioural biases.
Aware that behavioural biases can lead to irrational or suboptimal decisions
Aware about the profession of (f)influencers and how they earn money
Aware that one’s personal digital footprint is used by companies (including through Artificial Intelligence-based tools) to create tailor-made online adverts
Recognises an advertisement when seeing one, including online and on social media
Can identify advertisements even when they are not presented as such (eg in movies, social media, influencers, etc.)
Realises that branding has an impact on the price of a product
Takes into account that the way a product is presented (including online) may leverage behavioural biases and can influence personal decision
Thinks critically and independently in the face of external pressure, including from marketing, friends, social media (social trading, meme stocks, (f)influencers, etc.)