Financial education compulsory subject: Experts request education for young people!

Financial education compulsory subject: Experts request education for young people!

A study by the banking association shows that 80% of 14- to 24-year-old information that he has learned little or nothing about economy and finance at school. In addition, only 35% of young people know that the European Central Bank is responsible for price stability in the euro zone. Koschat sees a fundamental problem here because the education system focuses on poems and mathematical equations, while important economic relationships and budget planning are pushed into the background.

The call to change

The situation is alarming for Florian Koschat. He describes that schools do not convey how to survive financially. This also confirms the realization that four fifths of the young people surveyed cannot name the current inflation rate. With his newly published book "Nevertheless, rich! How you become wealthy despite poor parents" he wants to support young adults to become financially independent, even without starting capital. The book offers practical advice on topics such as budget planning and introduction to the stock markets as well as strategies for overcoming financial blockages.

The details of the book are also remarkable: it comprises 257 pages and is available from April 10, 2025, published by Semper FI Verlag at a price of 24.90 euros. In his publication, Koschat also appeals to readers to be critical of social media gurus and the ideal of the work-life balance. Many young people want more economic and financial knowledge, with 92% demanding more such content in school according to the study of the banking association.

financial education as a social necessity

The figures on financial competence in young women are particularly worrying. Only 25% know what the ECB is, and 40% cannot explain what a share is. It is all the more important that schools take the valuable opportunity to train students in these areas. More than two thirds of young people support their own school subject for financial and economic issues. 50% see schools as the best place for the imparting of financial education, while banks and consumer organizations are more in the background. Parents could also play a role by integrating age -appropriate financial education measures into everyday life.

Current uncertainty on the financial markets must not lead to the fact that we lose track of the young generation of educational needs. Comprehensive financial education could help not only react more prudently in times of crisis, but also to create a better informed society in the long term. Koschat urgently demands that the legislator must react now. He emphasizes that it has never been easier to get rich - if you only get the right tools to effectively manage your own finances.