The Institute for Business Education at WU has come up with a solution: financial education coaches who bring real-life financial know-how directly into the classroom – not just from textbooks, but based on real-life situations. The coaches are prospective business educators who complete a special training program before conducting the financial literacy workshops at the schools. They explain how to plan a budget or why interest rates can be tricky, but they also use examples to show which financial decisions make sense in the long term.

Since the launch of the project in 2022, more than 2,500 young people have benefited from the coaches in 150 workshops. Demand is particularly high in schools without a business focus. Schools in Vienna, Lower Austria, and Burgenland are already actively using the program. And the feedback is encouraging, with many young people saying they feel more confident managing their money after attending the workshops.

The initiative, which was selected as one of the top six educational projects for financing from the MEGA Bildungsmillion educational fund, continues to see steady growth. The program is supported by key partners such as the Vienna Economic Chamber (WKO Wien) and the Lower Austria Economic Chamber (WKO NÖ), the creditor protection association KSV1870, and the educational foundation MEGA Bildungsstiftung.

In the long term, financial education is to become an integral part of the school curriculum. Research shows that young people who are in possession of sound financial knowledge not only make better decisions but are also less likely to experience financial hardship. Financial education coaches lay the foundation for a future in which young people can handle money more confidently.