Austria's financial education: Successful model for Germany presented!

Austria's financial education: Successful model for Germany presented!

Frankfurt am Main, Deutschland - Finance State Secretary Barbara Eibinger-Miedl presented central points of the Austrian financial education offensive on June 7, 2025 in Frankfurt am Main. This event shows the international interest in Austria's approach to strengthening financial skills. Financial education is considered crucial for individual life decisions and economic stability.

The Austrian financial education initiative is based on four pillars: the early mediation of financial competence, the promotion of sustainable financial planning, the broad access to high-quality financial education and the continuous further development through coordination and evaluation. The priorities for the period until 2026 were further sharpened in the Financial Education Council at the end of May.

strategic development and measures

The national financial education strategy was launched in 2021 to address the need to catch up in the field of financial education. Based on cooperation with the European Commission, the OECD and around 50 other national institutions, the strategy pursues the goal of benefiting the entire population in Austria. Over 180 quality-assured measures are part of this strategy, supported by a network of ministries, educational and research institutions, companies and civil society organizations.

This strategy refers to eight phases of life in which relevant finance decisions must be made. These phases include school, further education, first profession, working life, first major purchase, provision for the future, family life and retirement. The digital financial education portal "Finanznavi" acts as a central information platform that offers target group -specific content and self -tests.

international response and cooperation

The strategy should be designed more inclusive and effective, in particular by a stronger address of vulnerable groups, such as women and girls. Eibinger-Miedl noted that the exchange with other countries, such as Germany, can contribute to the further development of successful measures.

In Germany, the OECD dealt with the topic of financial education. According to an inventory that was published on May 13, 2024, financial competence in Germany is rated as good in Germany, but there are gaps in certain areas and population groups. Women and people with low incomes in particular tend to have less financial knowledge.

recommendations and challenges

The OECD report identifies five subject areas that show action for the national financial education strategy: long-term savings and retirement provision, participation in the capital market, responsible use of loans, secure use of digital financial services and sustainable finance. The upcoming national financial education strategy in Germany will take into account the recommendations of the OECD and publish in autumn 2024. The financial education initiatives must address certain population groups and improve their methods.

The initiative for financial education in Germany, which was launched in March 2023 by Federal Finance Minister Christian Lindner and Federal Minister of Education Bettina Stark-Watzinger, is also seen as an important step in the direction of increasing financial competence in the population and actively addressing challenges.

Overall, the Austrian financial education strategy shows great commitment both at national and international level to sustainably improve financial education and to support the population in their financial decisions. The results of these initiatives are eagerly observed while the dialogue and the possible cooperation between the countries are continued.