Why Financial Education is so difficult – and why we need it

In a world that is increasingly shaped by economic processes, many people struggle to understand them. According to Prof. Aprea, this is partly because humans are simply not built to grasp complex economic relationships. Our brains are evolutionarily designed to respond to concrete, tangible experiences. Abstract concepts such as the monetary system or financial markets, on the other hand, are hard to comprehend. This gap between the complexity of the economy and our learning capabilities makes it difficult to understand the underlying processes.

Prof. Aprea criticizes the fact that economic education in schools is often insufficient. Curricula are rarely tailored to students' real-life experiences and rarely explain how economic processes affect society as a whole. Instead, too much abstract, overly specialized knowledge is taught. Teachers who are often not sufficiently trained face the challenge of making these complex topics understandable.

But why is it so important to understand economic relationships? Financial education helps us make smarter decisions – whether it’s managing money, saving, or planning for the future. Understanding how markets, monetary policy, or social security systems work enables people to better navigate financial challenges and makes them less susceptible to false promises or unfair offers. On a societal level, informed citizens could make better decisions, such as when it comes to evaluating tax policies or social security systems.

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