Financial Learning for Kids: Overview of Key Resources

Financial Education for Children and Young People Gains Momentum in Germany

Financial education is becoming increasingly important for children and young people in Germany, with various organisations and financial service providers stepping up to fill the gap left by the education system.

One such initiative is Finstep, an app affiliated with Bling, which provides a platform for self-learning on financial topics, tracking expenses, and setting savings goals. The app can be used individually or integrated by banks into their existing brand presence, making it accessible to a wide audience.

Savings and cooperative banks in Germany are also playing their part in financial education. They offer teaching materials on financial topics to teachers, helping to equip the next generation with the knowledge they need to navigate the financial world.

For those looking for a more interactive approach, Cashless-Munich offers a game called "Money and Luck" to sensitise young people aged 14 and above to gambling. Meanwhile, Heroes Financial Education offers a game app for students from the 10th grade, teaching them about investing on the stock exchange.

In addition to these initiatives, numerous providers offer project days and lectures for schools. For instance, Kids Go Finance, Funny Money, Germany Plus Foundation, and the Financial Competence Academy all offer educational resources for schools.

The non-profit initiative for economic youth education, the Future Day, imparts knowledge about finance, taxes, rent, and health insurance. The Future Day is available in the DACH region and aims to provide young people with a comprehensive understanding of financial matters.

Monkee's prepaid pocket money card allows children as young as seven financial independence and introduces them to card payments. The Knax pocket money app from savings banks offers games and explanatory films on the topic of money, helping families manage pocket money effectively.

The German government, associations, and financial service providers are all addressing financial education. Organisations such as the Verbraucherzentrale Bundesverband (vzbv), IW JUNIOR gGmbH, and Die Familienunternehmer are advocating for stronger economic education and school subjects on economics.

Many financial education materials are available for free, making it accessible for all. The Finstep app, for example, is free to download.

In conclusion, financial education for children and young people in Germany is a growing movement, with numerous actors offering resources to schools and individuals. The German government, associations, and financial service providers are all working together to ensure that the next generation is financially literate and well-equipped to navigate the financial world.