Balance: Financial Education for More and More People

The figures on financial education were presented on Tuesday after a meeting of the Financial Education Council by Martin Kocher, the Governor of the Austrian National Bank (OeNB), Finance State Secretary Barbara Eibinger-Miedl (ÖVP), Education Minister Christoph Wiederkehr (NEOS), and Women's Minister Eva-Maria Holzleitner (SPÖ). During the session, the progress report for 2025 was adopted, and the foundation for the strategy from 2027 was laid.

Financial Education as a Future Competence

Financial education is an essential "future competence" that "empowers people to make smart financial decisions," said Kocher. "This provides security for people and helps prevent over-indebtedness." Eibinger-Miedl, as well as Wiederkehr and Holzleitner, praised the productive collaboration of all ministries involved in the strategy. For Eibinger-Miedl, the topic is now "gaining momentum," and the financial navigation portal implemented in 2024 also contributes to this. The active desire of students to receive more financial education is also driving the topic forward, said Wiederkehr. Holzleitner also emphasized the importance of financial knowledge for the financial and economic independence of women. There is now a clear trend towards digital offerings in the available options. Currently, there are 148 online offerings for financial education. The number of implemented measures increased to 207 in 2025.

New Follow-up Strategy for Financial Education from 2027

The strategy that has been running since 2021 will expire in 2026, and a follow-up strategy is being developed for the period from 2027. This strategy aims to permanently implement financial education and pursue both fixed and variable - i.e., adjusted every few years - goals. Key focuses in the new strategy include opportunities and risks of financial and capital markets as well as digital financial competence, according to Eibinger-Miedl. To facilitate entry into the capital market, a combined savings and investment account is being considered.

A holding period for securities was not a topic of discussion. Although it would be a "good instrument" for the State Secretary and was discussed between the governing parties, it was ultimately not included in the government program. Whether the increasing financial education is reflected in the real world of people - for example, in lower debt - is not yet measurable. It is still too early for that, said Eibinger-Miedl. The measurability of the impact of financial education should, however, be implemented in the follow-up strategy. "That is exactly the goal, to make it visible," said Kocher.

(APA/Red)

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