According to the Edufin Index, the indicator that measures Italians’ awareness and behavior in financial and insurance matters (a project by Alleanza Assicurazioni and Fondazione Mario Gasbarri with the scientific collaboration of SDA Bocconi School of Management), the average level of financial literacy in Italy in 2024 stands at 56 out of 100, below the passing threshold set at 60. At the European level, only 39% of adults reach the minimum level established by the OECD (70/100).
Figures like these show just how important it is to teach money management from early childhood. Saving is not a sacrifice, but a skill. And like all skills, it must be learned, practiced, and nurtured over time. Teaching children to save from an early age is one of the most effective ways to build aware citizens, capable of planning their future and making informed decisions
Pocket money: small amounts, big lessons
We have often talked about how pocket money represents a concrete and extremely effective tool to teach children about saving. Far from being just a reward, it acts as a “simulation” of economic reality: the child manages a fixed amount, makes decisions, and experiences both successes and failures.
Managing pocket money allows young people to internalize key concepts such as:
- the distinction between wants and needs;
- the importance of planning before purchasing;
- the value of waiting and saving for goals (e.g. a toy, a gift, an experience);
- the importance of responsible autonomy in managing money.
Recent news from Germany shows how pocket money, if managed wisely and with foresight, can become an educational tool and even a source of long term wealth. The German government is discussing a bill that would provide every child, starting at the age of six, with a monthly payment of 10 euros to be deposited into an individual pension fund locked until retirement. Regardless of the concept of retirement itself — which at that age may seem abstract, given that the pension system is subject to future changes linked to demographic dynamics — this initiative sends a positive message: it restores to this tool a strong pedagogical role. It’s about helping new generations exercise freedom of choice, learn the discipline of saving, and internalize the value of time and effort in reaching their goals.
The educational role of the family
Teaching children to save from an early age means, above all, turning the family into the first educational, and economic, environment, where a conscious relationship with money is built. Children who grow up in households where people talk openly about money, even in simple ways such as discussing weekly shopping or managing pocket money, more easily develop regular saving habits and greater confidence in financial management.
However, early exposure to family dynamics marked by anxiety or financial uncertainty can, in adulthood, generate an avoidance attitude toward financial planning and a lower sense of control over money.
For this reason, it is essential that parents take an active role in fostering their children’s financial literacy. No complex lessons are needed: even small everyday actions, such as discussing expenses together, setting savings goals for a desired purchase, or involving children in consumption choices, represent valuable educational opportunities.
A lifelong skill
Acquiring saving habits from childhood means building solid foundations for a more aware future. Teaching saving from an early age is not just an educational act, it is an investment in both individual and collective well-being. On the blog of the Museum of Saving, you can find more content dedicated to family financial education, economic planning, and best practices for raising responsible citizens.
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10 September 2025