Financial lessons from Parnu, Estonia

The country may be different, but people face the same struggles everywhere.

My recent trip to Parnu, Estonia, wasn’t just a visit to a new place; it was a deep dive into how people think and learn about money. As the founder of ‘Money Coaching Hub,’ I’ve always been passionate about making financial knowledge more accessible. In Parnu, I met with folks from different parts of Europe – Germany, Portugal, Croatia, Malta, and more. Despite their diverse backgrounds, they all faced similar challenges in understanding money.

Common financial hurdles across borders

In Parnu, the conversations were eye-opening. Regardless of where they came from, people had the same kinds of questions and concerns about managing money, saving, and investing. It became clear that no matter the country, the basics of financial literacy are often overlooked. This common ground created a space where everyone was eager to learn and share.

‘Money Coaching Hub’: My ongoing commitment

Long before Parnu, ‘Money Coaching Hub’ was my way of helping people get better with money. This trip reinforced why I started it: to offer a place where anyone, regardless of their background, can come to learn about finances. It’s about creating a community that supports and educates each other on financial matters.

Why financial knowledge matters at work too

A point that really hit home during my sessions was how much financial stress affects people at work. Studies, like one from PwC in 2023, show that more than half of employees worry about money, which can affect their job performance. This is a big reason why companies should think about teaching their staff about financial wellbeing.

Breaking down money taboos: a personal goal

One thing that stood out to me in Parnu was how difficult it is for people to talk about money. My goal with ‘Money Coaching Hub’ and these sessions is to make talking about money normal and helpful. Sharing stories and practical tips can really help people get more comfortable and smart about their finances.

Let’s make 2024 a year of change in how we talk and think about money. If we can open up more about our financial lives, we can all learn and grow together. That’s what ‘Money Coaching Hub’ and my work are all about.

Follow Luca Caruana’s weekly column here, and his LinkedIn account or his Instagram for more budgeting hacks. For other money-related columns, check out Luca’s thoughts about how to make the one-income household work and his advice to couples who argue about money.

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