P“Making Young People Fit in Financial Matters”

As part of a new education initiative titled “Business Workshop – Taking Charge of Your Financial Matters”, Schufa published a revised set of teaching materials for teachers. 

This latest set of teaching aids provides teachers in Germany with an extensive pool of diverse materials available to realistically integrate the development of financial literacy in the classroom.  Topics such as contracts and loans, private consumption, use of personal data or the first household formation are offered in the form of special issues, worksheets and lesson ideas.  The teaching aids can be used in a flexible way – whether for a representation hour over 45 minutes, or a 90 minute lesson as a basis for projects or simply as an inspiration to practice or competence-learning. The materials were developed in collaboration with the renowned Berliner education agency Helliwood media & education.  The agency is well versed in fields of education and new media.

Dr. Astrid Kasper, Head of Public Affairs and CSR, stressed: “Personal finances are a highly complex issue confronting young people at the end of their education.”  “Surveys indicate that there is a great interest by young people in financial topics, hence these interests need to be supported.” According to a survey by the German research institute Gesellschaft fuer Konsumforschung (GfK), which was commissioned by Schufa, almost 80 percent of 15 – to 20-year-olds would like to have more information and education in the classroom on the subject of finances and they also believe the subject of economics should be given more credence.  While young people appear to be responsible for their own finances, however only 30 percent feel well informed about financial topics, such as the “SCHUFA Credit Compass 2013″.

The survey also shows that today many teenagers and young adults feel overwhelmed by growing consumer pressures and related financial issues.  The changing landscape in media, behavior in purchasing and consumption and the proliferation of eGeld (electronic payment systems) make it difficult for young people to keep track of their own finances.  Contracts and loans have become a fact of their daily lives.  However at the same time many young people do not know what their rights and obligations are associated with such contracts or remain ignorant of available options, if there are problems.

“With the expansion of our educational program, we want to help improve the training of financial literacy among young people,” said Kasper. This includes the new education initiative “Business Workshop”. The initiative of Schufa’s online platform www.wirtschaftswerkstatt.de is directed at teens and young adults who want to learn more about economic and financial topics. The focus is to raise awareness about their financial behavior, the development of a consumer awareness and responsible use of their own data in the center of the educational initiative.  “SCHUFA School” now completes the range  of teaching materials for teachers.

Schufa_Logo_svg-300x88Information and all materials are available on the portal www.SCHUFAmachtSchule.de and for download or can be ordered as a complete box with printed educational materials free of charge. The education initiative “Business Workshop” with their online offerings presented in the Internet under www.wirtschaftswerkstatt.de

Source:  Schufa Holding