Germans and Austrians crave investment knowledge at school, report finds
Germans and Austrians want more financial education, and are willing to start at school to get it, according to research published today.
The survey, commissioned by Axa Investment Managers, seems to justify work already being done in schools by the Bundesverband Investment und Asset Management (BVI).
In December, pollsters TNS Infratest Finanzforschung found only 15% of Germans overall gained their financial knowledge at school, but 66% would like schools to teach about finance generally.
The study found 24% of Germans aged between 18 and 39 gained their financial knowledge at school, compared to just 9% among older generations.
Karin Kleinemas, Axa IM’s marketing head for northern Europe, said: “This could be the case partly because the topic is anchored more and more firmly in teaching plans, and also because the knowledge from school is simply more present in the minds of younger people.”
A similar picture emerged in research TNS undertook in Austria.
Germany’s fund management trade body has already embarked on programs to teach young people about finance and investment – not least so they do not end up old and poor.
More than 200 schools have asked the BVI to send representatives to teach pupils about financial matters.
It has run the program since 2006, and also has teaching material on its website at www.bvi.de.