In the spring of 2023, Luxembourg for the first time participated in an OECD study on the level of financial literacy among the population. Considering the grand duchy’s status as a financial hub, the results were surprising: on average, the country scored 60 out of 100 on financial knowledge, behaviour and attitude, a score that was close to 50 when looking at adults aged 18 to 29.
How can a country that has such a prolific financial sector not reflect this in its educational system? What is the danger of this and what solutions exist to solve the issue?
Jessica Thyrion, a financial education adviser at the ABBL foundation for financial education, tells us.
