School and lifelong learning
Handling money thoughtfully and responsibly is a major challenge throughout life.
Why? Because different stages in life require different financial decisions.. Additionally, new forms of consumption, saving, investment, and payment are constantly emerging. That’s why it is important to keep learning so we can make well-founded financial decisions.
Even as children we learn that there are different ways to handle money by observing our parents. By the time children get their own pocket money, they also have their own financial resources and are able to make their first experiences in planning their spending and saving money for larger purchases. As children grow up, they usually make more and more financial decisions and their spending range increases. Young people are already setting the course for their future financial well-being when they choose their education path. Throughout our life, we have to make numerous financial decisions, at the latest when we start earning our own income or running our own household.
Parents and teachers play a crucial role in the education of children and teenagers and lay the foundation for young people’s financial literacy. Based on this foundation, young people should be able to recognize financial challenges later in life, research reliable information as needed, and independently acquire further financial knowledge.
