Financial Literacy in Elementary Schools Through a Fairytale

Financial literacy is being introduced to elementary schools in Cyprus with a new tool: the fairytale "70 Toko and a Hole in the Shoe." The initiative was presented at a training seminar at the University of Cyprus on January 22, 2026, with the participation of 150 educators.

Dr. Andreas Milidonis, Professor of Finance at the University of Cyprus, emphasized that the fairytale will be a valuable tool for sixth-grade teachers through the Health Education course. Maria Loizidou, educator and author of the fairytale, contributed significantly to the development of the educational material.

Minister of Education Dr. Athena Michaelidou expressed the political will to proceed with this addition to elementary school, while hoping for the introduction of an independent mandatory course in secondary education.

The seminar was organized by the Corporate Social Responsibility Office of the University of Cyprus, in collaboration with the Pedagogical Institute and the Directorate of Elementary Education of the Ministry of Education. The event also included Menelaos Menelaou, Dr. Soula Ioannou, Nikos Nikolaidis, Filio Savva, Antonis Papageorgiou, Chrystallla Kyriakou, and Theodora Michael Mousiotta.

Foteini Panagi, Public Relations Officer of the University of Cyprus, highlighted the importance of financial literacy and the University's initiative to include a related course in its curriculum since 2020. The educational material has also been adopted in private schools and gymnasiums.