Already some three and a half years back, I wrote an extensive article on financial education (in German). At the time, I argued that financial education needs to come from various sources: Parents, schools, Financial Institutions and others.

On might argue, that not a lot has happened since I wrote that article. The level of basic know-how on finances in the wider population remains low. E.g., 70% of respondents did not know what a mutual fund was. Let alone the difference between a mutual fund and an ETF.

At the same time, I am pleased to see that the topic of financial literacy was taken up recently in the political space. Not only did the current Austrian government include financial education in its program. It also recently launched an initiative to bring financial education in the curricula of schools.

Read more in this article in Die Presse or in the press release of the Austrian Ministry of Finance.

So, maybe, there is indeed hope for financial education! 🙂