Early financial education: Carinthia's path to financial independence!

Early financial education: Carinthia's path to financial independence!

In Carinthia, the importance of solid financial education is increasingly being emphasized in order to promote the financial independence of the population. Experts from various areas agree that early education about financial topics is crucial; according to Hans Schönegger from Kärntner Sparkasse, more than two thirds of young people have insufficient financial knowledge. This statement highlights the need for targeted projects and advisory services to get young people in particular on the right path and to train them in how to handle money independently Small newspaper reported.

Another aspect that Mario Drussnitzer from the Carinthian debt counseling service emphasizes is the insufficient transfer of knowledge from parents to schools. To counteract this, the introduction of a “pocket money driving license” for children and young people was suggested. This is intended to help impart basic financial knowledge and promote early, self-responsible action.

Financial independence under pressure

The issue of financial independence also has broader social relevance. According to a survey conducted by oe24 quoted, 90% of Austrians strive for financial independence. However, only half manage to achieve this goal. Fears about financial bottlenecks plague 45% of the population, while 44% want a financial cushion. What is particularly worrying is the fact that 28% of women cannot even cover their basic expenses. These deficits highlight the need for increased financial education and awareness.

The demographic differences are clear: While 59% of men achieve financial independence, the figure is only 47% of women. This creates an alarming picture, particularly among women with children or living in rural areas, who are often financially dependent. Gen Z, on the other hand, is more open about dealing with money and communicates regularly with the family about financial issues, which can be highlighted as a positive aspect in the current debate.

Building blocks of financial education

Basic financial education is essential to achieving financial independence. A study shows that 75% of respondents believe they manage money well, but only 39% actually know about it. Accordingly, the need for information about money management, financial planning and reflective consumer behavior is high, with 43% of respondents viewing reflective consumer behavior as an essential skill. In addition, financial knowledge should be taught at school in order to create a stable basis.

A practitioner, Manfred Wilhelmer from Raiffeisen Landesbank Kärnten, recommends regular financial checks to control costs. In summary, financial role models and mentors are of great importance for many people being cared for in order to strengthen their own financial health. Other experts, such as Elisabeth Niederer from “Jugend am Werk”, point out that clients are often in financial difficulties until the end of the month and this requires low-threshold solutions.

Overall, it is clear that creating solid financial knowledge is fundamental not only for current generations, but also for future youth in order to successfully meet the challenges of financial independence.