Improving financial literacy to prepare for the future

Education from the earliest age

“It is essential to introduce financial education gradually, starting as early as six years old. We must help children understand the value of money, the principles of credit and investment, and the concepts of risk and return. These skills should support them throughout their lives, to realise their goals, maintain their quality of life, and prepare for retirement.”
— Hélène Lange, Head of Business Coordination at the ABBL

In collaboration with the SCRIPT, the Fondation ABBL pour l’éducation financière actively promotes the integration of financial literacy into national education programmes. Each year, during Money Week, around 1,000 pupils aged 10 to 12 take part in hands-on workshops, delivered by volunteers from ABBL member institutions, helping them learn to budget and manage money.

Empowering individuals and protecting against risk

“Financial education gives individuals the tools to better understand economic principles and assess financial products and risks. Our goal is to help everyone become more resilient and capable of making the right choices at every life stage.”
— Jessica Thyrion, Financial Education Adviser at the ABBL

Financial education empowers people to make informed decisions and avoid pitfalls such as over-indebtedness. It also plays a crucial role in protecting younger generations, who are increasingly exposed to digital financial offers and complex investment opportunities.

Smarter saving and investing

Another objective is to encourage more active management of personal finances. In 2024, 66% of household deposits in Luxembourg were held in current or traditional savings accounts — with low returns often below inflation. Just 16% were invested in securities accounts.

“By diversifying their portfolios, savers can both access higher returns and support key areas of economic transition.
But to do that, they need a solid understanding of the risks involved and the confidence to take action.”
— Hélène Lange

This reflects a broader goal: to guide savers towards strategies that preserve purchasing power and contribute to digital and sustainable transitions.

Supporting future talent

Financial education also plays a role in developing the skills the industry needs. Early engagement helps inspire career interest, while adult training and reskilling initiatives provide new opportunities.

The ABBL supports this ecosystem through partnerships with the House of Training, the University of Luxembourg, and institutions like McGill University, which recently launched a finance-focused master’s programme in Luxembourg.

“Financial knowledge must accompany citizens throughout life — to realise their projects, preserve their quality of life, and ensure responsible management of their resources.”
— Hélène Lange

This article is based on the interview with Hélène Lange and Jessica Thyrion, originally published in the Luxemburger Wort’s banking ranking supplement on 8 July 2025.