National Financial Literacy Strategy

The National Financial Literacy Strategy was initiated in order to improve the financial literacy level of people living in Austria.

The project to develop and establish the National Financial Literacy Strategy for Austria was carried out together with the European Commission, the Organization for Economic Co-operation and Development (OECD) and in close cooperation with about 50 national institutions (stakeholders) active in the field of financial education in Austria. At the end of September 2021, the National Financial Literacy Strategy was presented in and adopted by the Council of Ministers. Since then, the implementation of the strategy has been ongoing.

The implementation of the strategy will benefit all individuals in Austria, irrespective of characteristics such as age, gender, socio-economic background, etc. While aiming at benefiting the entire population, the strategy acknowledges that individuals are more likely to require access to quality financial education and support at critical moments of their (financial) lives. Therefore, the strategy has identified eight life stages in which financial decisions have to be made: School, further education, first job, working life, first major purchase, planning for the future, family life and retirement.