More money for financial education: This is how we want to stop over-indebtedness!

More money for financial education: This is how we want to stop over-indebtedness!

The need for more financial education in Germany is becoming increasingly urgent. Today, on June 3, 2025, the results of a current survey by the Debt Advice Association of Associations (AG SBV) were published, which indicate a significant increase in demand for financial education. According to the results, 63 percent of advice centers report increased demand compared to previous years. In principle, an urgent need for action is identified, as 40 percent of advice centers state that they do not offer any financial education. The most common reasons for this are a lack of financial resources or a lack of human resources, as stated by 51 percent and 82 percent of colleagues.

Roman Schlag, spokesman for AG SBV, warns of the capacity limits of the advice centers. In times of rising living costs and the widespread practice of “buy now, pay later”, comprehensive financial knowledge is essential. Thekla Gehrmann, an experienced debt counselor, has also noticed that young people often have gaps in their knowledge of basic topics such as unpaid bills or Schufa.

Debt prevention actions

On the occasion of the Debt Advice Week, which is currently taking place from June 2nd to 6th, 2025, the debtor and insolvency advice center of Diakonie Erzgebirge emphasizes the importance of more investment in financial education. Under the motto “The best investment in financial education – when a minus becomes a plus” it is pointed out that targeted measures for financial education can effectively prevent over-indebtedness.

Ms. Koch, the team leader at Diakonie Erzgebirge, emphasizes that good financial education is a key to personal responsibility, social participation and a self-determined life. People with limited financial resources particularly benefit from these offers. The AG SBV urgently calls for a financial commitment from politicians in favor of financial education. Early training for young people could reduce the risk of indebtedness more significantly.

The path to financial education

A critical point that is repeatedly emphasized is the integration of financial education into the curricula of all types of schools. Diakonie Erzgebirge implements prevention offers to strengthen the basic financial education of young adults at three locations in the Erzgebirge district. The aim is to enable these young people to manage their finances independently and responsibly and to help them identify risks and make optimal use of offers of help.

A fundamental concern of the AG SBV remains the demand for a right to debt advice and long-term financing of prevention offers. The AG SBV is thus addressing a central social problem: without sufficient financial education, it is becoming increasingly difficult to master the challenges of modern life and avoid excessive indebtedness.

Given these needs, it becomes clear that more knowledge about finances is needed to enable future generations to handle money safely. The efforts being made now are more than just desirable – they are necessary.

For more information on the survey and current developments in the field of financial education, readers can consult the reports Frankfurter Rundschau as well as the Diakonie Erzgebirge to use.