The lack of financial understanding among young Austrians has long been a focus in the educational policy debates, with numerous initiatives introduced in schools. However, one group has remained largely overlooked: apprentices. The project ‘Financial education for apprentices’ addresses this gap.
Developing financial literacy from a young age is essential for making informed decisions and avoiding debt. In line with this objective, the Austrian Ministry of Finance introduced a National Financial Literacy Strategy in autumn 2021, aiming to enhance citizens’ awareness, knowledge and understanding of financial matters. A key target group of the strategy is children and young people aged 6 to 19. Particular emphasis is placed on promoting financial education as a cross-curricular theme across all school types and age groups.
What about apprentices?
Although apprentices earn their own money and might face issues such as securing their first home, they have not been a focus of financial education measures. In fact, apprentices are not even mentioned in the National Financial Literacy Strategy. Since 2024, the ‘Financial Education for Apprentices’ project, funded by the Austrian Federal Economic Chamber (WKO), has offered a digital learning programme tailored to equip apprentices with financial skills for independent living at work and in daily life.
E-learning modules on real-life topics
The Working Group on Economy and Schools (AWS), a project run by ibw Austria – Research & Development in VET, provides free materials for learners and teachers on various economic topics across all school levels. Through the ‘Financial Education for Apprentices’ project, AWS has expanded its services and, on behalf of the WKO and in cooperation with the Centre for Financial Education at the Vienna University of Economics and Business, develops e-learning modules directly relevant to apprentices. To maximise practical relevance, authentic materials and documents - such as rental listings and payslips - are used.
As of July 2025, seven e-learning modules are available on the following topics:
- My first income
- My first budget plan
- My first apartment
- Saving money in everyday life
- My first self-financed holiday
- Monetary transactions 1: paying in person
- Monetary transactions 2: paying online
Access to e-learning modules and future plans
The e-learning modules are free, standalone units accessible on the AWS website without registration, making them available to apprentices and other learners alike. They are also integrated as interdisciplinary content on the digital learning platform for apprentices ‘wîse up’ as curated courses with additional exercises and quizzes. The learning content is being continuously expanded, with four additional courses and a learning app expected by the end of 2025.
Read more
- Bmf. National Financial Literacy Strategy
- IBW. Financial Education for Apprentices as part of AWS
- Digital education and training platform wîse up – interdisciplinary courses for apprentices
| Please cite this news item as: ReferNet Austria & Cedefop (2025, June 25). Austria: Financial education for apprentices. National news on VET. |