The commission for the surveillance of Luxembourg's finance sector launched a new online information portal to raise awareness among consumers of all ages of various financial issues that arise on a daily basis.

One of the key components of the initiative is lëtzfin.lu, a new website that informs consumers and objectively answers questions about personal finances. Its purpose, the official press release reads, "is to educate and protect consumers by providing them with basic financial information to help them analyse and understand their financial situation and make appropriate and informed choices."

Minister of Finance Pierre Gramegna explained that "the financial crisis has shown that financial education must play a more important role in the lives of all citizens.

Indeed, financial education enables consumers to make informed and responsible financial decisions, and this is even more essential in a digital world in which information is circulating ever faster." He congratulated the CSSF for their initiatives taken in this area, and for raising awareness "of sustainable finance."

The website offers practical tools such as explanatory video, simulated credit calculations, and other application to establish personal budgets or test your own financial knowledge. The commission also unveiled a new app that allows children to manage their pocket money and, by doing so, learn how to manage their personal budget and "appreciate the value of money."