Application for education of financial literacy

The paper follows a grant project at the University of Hradec Kralove-Applications for support of financial literacy, where the key problems are described by a methodology that is implemented in the proposed application. This application is based on the processed results and aims to improve the financial literacy of citizens, because financial literacy is the best way to prevent their over-indebtedness. This application supports e-learning approach to teaching at the University of Hradec Kralove. The application uses interactive graphical representation methods that are user friendly, is addressed to wide range of people and aims to teach consumers how to behave in specific situations that can occur. This educational environment interactively explains the basics of financial literacy; the user can browse through different topics. During the learning process he is tested by examples, which are practically oriented and review the level of his newly learned skills. This helps the user to outline the legalities and structure of the financial market and modifies the existing educational processes supported by ICT. (C) 2011 Published by Elsevier Ltd.