Non-profit Rahatarkus specialises in financial education and consultation. Our aim is to help individuals to make wise choices in planning their personal finances and career in all life stages. To achieve this goal, we provide training, consultation, teaching resources, surveys, career advice and other services in cooperation with various stakeholders from both public and private sector. However, we are an impartial nongovernmental institution, we do not work in the interests of any financial sector organisation.

Our team:

Heli Lehtsaar-Karma has designed and taught financial education and career advice courses for schools, teachers, career advisors, adult learners and at workplaces. She has created teaching resources for various target groups both in print and online. Heli has a Master´s degree in social sciences and she has passed a EU course on financial advice.

Leonore Riitsalu has led the creation and implementation of the Estonian National Strategy for Financial Education, represented Estonia in the OECD International Network on Financial Education, initiated and analysed several large scale financial literacy surveys. Her doctoral research concentrates on influencing behaviour in planning long-term personal finances. She lectures in Financial Literacy and Behavioural Finance in the Institute of Social Studies of University of Tartu and in Consumer Behaviour in the Marketing Department of the Estonian Business School.

Recent projects:


November 2018 - October 2021 partnering with universities, schools and NGO-s from five countries (Belgium, the Netherlands, Italy, Estonia and Slovakia) in a three-year project "EUFin: Innovative integrated tools for financial literacy education across Europe". It is funded from Erasmus+ Key Action 2: Strategic Partnerships for Higher Education.

January 2017 – February 2018 consulting the OECD (Organisation for Economic Co-operation and Development) in a project that seeks to provide dedicated guidance and technical support for the design, implementation and review of evidence-based financial education strategies and policies in Azerbaijan.

February 2016 – present taking active part in the work of Think Forward Initiative financial literacy team.

October 2016 – May 2017 monthly two-day course “Entrepreneurship in managing personal finance” for adult learners, young entrepreneurs and job seekers.

September – October 2016 two-day training on financial literacy and behavioural economics for the members of the Estonian Insurance Association.

September – December 2015 consulting the Three Coins on creating an app for managing personal finances.

March – September 2015 provided financial education courses to career advisors and teachers on six days in various parts of Estonia.

April 2015 – June 2016 consulted Estonian Ministry of Finance on designing a financial literacy survey and teacher training programmes. We have consulted them and other stakeholders of the National Strategy for Financial Education on its implementation since 2014.

February – May 2015 financial education programme for commuters on the ships travelling from Tallinn to Helsinki, 17 events on 7 topics including and intervention for behaviour change and a follow-up survey.

In the media:

We have spoken about financial literacy and behavioural economics on the Estonian national television (here and here), conference Pension 2050 and radio.

We have given interviews to newspapers Maaleht, Õpetajate Leht, EPL, written articles for the the science news portal of Estonian national broadcasting and the blog of Estonian Cooperation Assembly.


Leonore Riitsalu