Financial education for the future: Ottenschläger demands strong measures!

Financial education for the future: Ottenschläger demands strong measures!

In a meeting on the national financial education strategy, which took place today, ÖVP finance spokesman Andreas Ottenschläger emphasized the crucial importance of financial education for self-determined life, especially in young people. A central concern of this strategy is to cover the need to catch up in the area of financial education in Austria. The aim is to reach and inform the entire population in this area through targeted initiatives. A total of 154 financial education initiatives are currently being implemented in 2024, which represents a significant increase compared to 139 in the previous year. Over 100,000 citizens have already been achieved through these offers.

The national financial education strategy was developed in cooperation with the European Commission, the OECD and around 50 national institutions and was decided in the Council of Ministers at the end of September 2021. It is divided into eight phases of life in which people have to make relevant finance decisions. These phases include school life, further training, the first workplace and the important phases of life such as family start -up and retirement. Specific measures for financial education should be provided for each of these phases in order to optimally support the citizens.

The action program

A comprehensive action plan with numerous “action tools” addresses essential topics such as basic financial formation, old-age and future provision as well as consciousness formation and crisis resilience. The aspects of safe handling of loans and cooperation with various stakeholders are also particularly emphasized. Target groups are not only pupils, but also adults, especially women, for whom a special study was commissioned on financial well -being.

The Ministry of Finance and the Austrian National Bank also launched an online portal under the name "Finanznavi", which provides citizens with comprehensive information and tools. An Austria -wide campaign for the announcement of the portal is planned to further increase the range of the initiatives.

focus of the educational offers

An important part of the national financial education strategy is school financial education, which is sustainably strengthened by the foundation of the Foundation for Economic Education in December 2020. This foundation is supported by numerous institutions, including the credit and insurance industry, Austria and Chamber of Labor. As part of the school pilot Economic Education, 30 pilot schools in secondary level I will receive special support from autumn 2022, which extends over four years.

An accompanying measures program includes teaching materials, further training opportunities for teachers as well as school coaching and financial grants. Studies have shown the great need to catch up in the financial knowledge of the population in Austria, which is why these initiatives are of crucial importance. The Federal Government pursues the goal of systematically improving economic and financial education and adapting curricular to the future financial needs and personal responsibility of the citizens.

Overall, the national financial education strategy and the associated initiatives take an important step towards a more financially self -confident society in Austria. In view of the constantly changing economic framework, the promotion of financial education is of essential importance to ensure an informed and responsible population.