The euro, as our money, will soon have an extremely important role in the financial, social and psychological aspects of our lives. The euro will of course be used in the traditional way – as a store of value, a unit of account and as a means of effecting transactions.

However, one often overlooks the fact that money is an important factor in establishing, and maintaining, a feeling of well being and independence – two exceptionally important factors that if not dealt with adequately, will have a negative impact on the success of one’s ability to adjust quickly and effectively to the new currency.

Upon euro adoption, not only will our notes and coins change, but so will our monetary language. This means that prices will seem higher when shown in euro, but in reality it is simply the value being expressed in a different ‘monetary language’ – the values will remain the same!

This in itself is not a difficult concept to grasp, and with a little awareness and attention, adjusting to the new ‘monetary language’ should be mastered by all. However, although one’s ability to use money is taken for granted by many, there is no reason for complacency.

There are cognitive, emotional and practical issues related to the efficient and effective use of money and as such, preparation and practice is the key to ensuring that what you may take for granted today, in respect of your ability to handle your daily budget, continues to be the case as from 1 January.

Practice makes perfect…

In order to ensure that this mental adjustment takes place – by making the ‘concept’ a ‘reality’ - it is highly recommended that the mental transition to euro starts now.

It is high time to move beyond the awareness phase and start looking towards the practical implications and ways of changing the way you think and calculate in monetary terms.

For the majority of Maltese citizens, the reality of the change will likely hit home the first time one actually handles the new euro coins.

However, in order to assure your ability to use, plan and budget in euro with confidence and ease, start ‘thinking euro’ by putting the knowledge acquired during the last months to practical use. Work out your budget in euro, take note of dual display, be proactive and seek assistance.

One needs to bear in mind that the extent to which one is able to make the mental leap will of course depend on one’s willingness and ability, to deal with the change. In this regard, the NECC is equipped with the necessary resources to assist persons facing particular difficulties.

Additional assistance and training are only a telephone call away on Linja Ewro 154. It is our aim to ensure a smooth transition for all. For further information you may wish to visit the NECC website on www.euro.gov.mt

Claire Azzopardi is National Euro Changeover Committee Information Officer