Poles and finances? We rate ourselves for three. Examples of franc loans or Amber Gold show that rightly
Examples of franc loans or Amber Gold show that society lacks understanding the mechanisms governing the economy and finances. In terms of economic knowledge, Poles assess themselves with three, the worst in the field of cyber security and investing. According to experts of economics of financial management and investing, it is worth teaching at school, although not in the formula of a separate subject. However, deepening economic knowledge is also needed among older social groups.
– Poles need better economic education. Let's remember everyone, how it was with franc loans, when most of those who took them claimed that they did not know that the course could change. It is similar with the risk, how many slip -ups we had in the form of encouraging people to invest in Amber Gold, because “they will never lose themselves in gold.” This is a message for people who do not understand market mechanisms – says Newseria information agency prof. Witold Orłowski, economist from the Academy of Finance and Business Vistula and the Warsaw University of Technology.
– Today, many, especially young people, believe that you can only earn on cryptocurrencies. In order to understand, for example, the risk of investing, you have to be aware of how finances work. It is more than just a simple interest rate.
Every third respondent assesses his economic knowledge as small or very small, and 37 percent. as average. 59 percent Poles after the last 12 months believe that more and regularly save on the so -called Burnains, and half of them declare that savings should be diversified. 1/3 of the respondents also indicate that expenses should be reduced and a more modest lifestyle. Importantly, this answer is more often indicated by the inhabitants of the village – four out of 10 respondents. These are the results of the eighth edition of the annual study carried out by the Indicator studio at the request of the Warsaw Institute of Banking and the GPW Foundation – “The level of financial knowledge of Poles 2025”.
– When you ask children, where parents have money, you can most often hear from an ATM, not that they had to earn, for example. When the question is asked if the government has its money, you often hear the answer that yes, and of course the government does not have its money. The lack of this basic economic knowledge has a great impact on both the economy, because various errors are made, but also on the spread of populism, not only in Poland, but also in Europe and the world – says prof. dr hab. Piotr Wachowiak, rector of the Warsaw School of Economics.
In recent years, sources have changed from which Poles most often draw economic knowledge. The popularity of blogs and websites is constantly growing – 62 percent respondents declare that they acquire knowledge (55 percent in 2022) and from podcasts and video materials on the Internet – 27 percent. (19 percent in 2022). However, the percentage of people who derive knowledge from traditional media (34 percent currently, 49 percent in 2021) decreases. Poles feel the greatest shortage of knowledge in the field of cyber security (46 percent). The next places included investing – 32 percent. and tax system – 28 percent
Behind the shortcomings in knowledge also follows the awareness that it should be constantly expanded. 41 percent respondents declare that she would like to deepen their knowledge of cyber security (it is 3 pp. More than last year's edition of the study), and 24 percent. – in the scope of the tax system. However, only every fifth respondent would like to deepen their knowledge about investing, despite the fact that every third respondents declare the lack of knowledge in this area.
– We should be much better educated in terms of economic processes. The world is getting more and more complicated, the economy is complicated. Simple financial tools are not even enough, you really need to understand what is happening in the economy, how it changes, where there are risks, where there are opportunities, how to adapt to it. And this, unfortunately, must be at school, because later it is a bit too late to study – says prof. Witold Orłowski.
– We must find some system solutions to increase the level of economic and economic knowledge of our society – from kindergarten to senior – indicates prof. Piotr Wachowiak.
However, both experts are not convinced to the idea of introducing an additional subject at a school aimed at financial education.
– I am an opponent of the so -called silo knowledge, i.e. that there is mathematics here, here is physics, here is history, and here is entrepreneurship. In my opinion, the effort should rather be put into the fact that knowledge about the economy is woven into other topics – indicates prof. Witold Orłowski. – Knowledge about finances, simple financial instruments can be also transferred to mathematics lessons. So it's probably not the best idea to create a separate item, it would be better to think about how to integrate the understanding of the economy with other subjects.
– We must follow examples from Western European countries, where this economic knowledge is on various subjects, because it can be in mathematics, where tasks will apply to economic issues, it can be in history where the silhouettes of entrepreneurial people will be presented, on geography, to show various types of economic regions – postulates the rector of the Main School in Warsaw. – I am not a supporter that it would be one subject in which he will learn economics. She should accompany us during our whole life, i.e. on various subjects.
In the WIB study and the WSE Foundation, the knowledge of the respondents on investing was again checked in practice. The respondents answered correctly to half the questions about investing on average. 2 percent did not give any correct answer, and 3 percent achieved a result of 7/7. Society is also afraid of investing because of the ignorance of the WSE instruments. 65 percent respondents heard about actions, but they do not know what they are (a slight improvement is visible – last year, 70 percent of respondents indicated this answer). Similarly, in the case of bonds (58 percent) 3/4 respondents have never heard of ETFs. Currently 44 percent Poles do not invest in the stock exchange because they lack enough knowledge.
