Recital 78

(78) In order to increase the ability of consumers to make informed decisions about borrowing and managing debt responsibly, Member States should promote measures to support the education of consumers in relation to responsible borrowing and debt management, in particular relating to credit agreements for consumers, as well as to general budget management. Such an obligation could be fulfilled taking into account the financial competence framework developed by the Union together with the Organisation for Economic Co-operation and Development. It is particularly important to provide guidance for consumers taking out, particularly by means of digital tools, consumer credit for the first time. In that regard, the Commission should identify examples of best practices to facilitate the further development of measures to enhance consumers’ financial awareness. The Commission could publish such examples of best practices in coordination with similar reports drawn up in relation to other Union legislative acts. In creating and promoting those measures, Member States should consult relevant stakeholders, including consumer organisations. Such an obligation should not prevent Member States from providing for additional financial education.

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Source: EUR-Lex CELLAR · retrieved 2026-07-30 · Text as adopted (Official Journal); later amendments are not incorporated in this text.