From Classroom to Real Life: How the Swiss Finance Museum Prepares Young People for Financial Success

From Classroom to Real Life: How the Swiss Finance Museum Prepares Young People for Financial Success

Financial illiteracy is a problem. Even in financially advanced countries like Switzerland. The Swiss Finance Museum (SFM) is trying to offer a solution to this – by making financial literacy exciting and relatable for kids and teenagers across Switzerland. Read on to find out how.

Financial literacy is critical to personal success. That is why it is important to set the groundwork at a young age. The SFM wants to set an example by actively reaching out to younger generations. Founded in 2017, the SFM is Switzerland’s only finance museum, and its mission extends beyond exhibiting the country’s famous banking heritage. The museum aims to provide an understanding of the financial markets, their infrastructure, and the role they play in our daily lives. However, the SFM’s most innovative initiative might be its efforts to engage with children and teenagers – ensuring that financial literacy takes root at a young age.

The Importance of Early Financial Education

Despite being one of the most financially advanced countries in the world, Switzerland struggles with widespread financial illiteracy. A 2014 study by Standard & Poor’s revealed that only one in three adults worldwide is financially literate. The implications of this statistic are profound, and Switzerland is not immune to the problem. Even in countries with developed financial markets, there are large gaps in the public’s understanding of basic financial concepts like budgeting, debt management and investment. This is due to the fact that financial education is still underrepresented in the Swiss curriculum and not all parents are able to educate their children because of their own lack of financial knowledge.

In response to this alarming trend, the SFM has made financial education a core aspect of its mission. The museum offers a range of programs for school-aged children designed to make finance accessible and – most importantly – even fun. Through its engaging, age-appropriate workshops and tours, the SFM is laying the foundation for the next generation to become financially literate citizens.

Innovative Programs for Children and Teens

SFM offers two main programs for children and teenagers: guided tours of the museum and specialised workshops. The guided tours are tailored to students around 14 years old and provide an overview of the museum’s exhibition. These tours are interactive experiences designed to cater to the students’ existing knowledge of finance, making the content both engaging and educational. The tours are accompanied by working materials that help students retain what they have learned. Some of these materials are completed during the museum visit, while others are finished in the classroom.

For younger children, aged seven to 13, the museum offers playful, interactive workshops that introduce basic financial concepts. These 60-minute sessions cover topics like the evolution of money, the mechanics of cashless payments, and the fundamental principles of supply and demand. The workshops are adapted to different age groups to be accessible and understandable to all participants. By making complex financial topics fun and engaging, the SFM is helping to break down barriers to financial literacy at an early age.

Swiss Money Week: A Nationwide Initiative

One of the SFM’s most notable projects is its involvement in Swiss Money Week, part of the larger Global Money Week initiative organised by the Organisation for Economic Co-operation and Development (OECD). Swiss Money Week aims to teach students about budgeting, a skill that is often overlooked in traditional curricula. In partnership with the Swiss National Bank (SNB), the museum coordinates a six-week budgeting project for school classes, designed to introduce financial planning in a hands-on, practical manner.

For students aged eight to 14, the budgeting project is about creating a realistic budget for a school trip. This task requires students to work in teams, debate ideas, and present their findings in a final project. The experience mirrors real-world financial planning and forces students to think critically about resource management, teamwork and compromise.

For younger students, aged five to seven, the museum has developed a collage competition on the theme of money. This project helps younger children understand the abstract concept of value, setting a foundation for future financial learning. After completing their collages, students participate in a workshop at the museum where they reflect on their artwork and learn more about the value of money. Both projects are sponsored by various charitable foundations.

Reaching Gen Z on TikTok

In addition to its educational programs, the SFM has embraced a more modern method of reaching young people: TikTok. Recognising that Generation Z spends most of their online time on this platform, the SFM decided to meet them where they are. Since early 2023, the museum has been actively creating content on TikTok. What makes this initiative special is that the account is in full control of the apprentices.

The idea to create TikTok content came from the apprentices themselves. The content is produced in Swiss-German, making it more relatable to the local audience. The videos focus on financial education. The posts are designed by young people for young people, incorporating the humor, language and style that resonate most with Gen Z.

This approach has been incredibly successful. In 2023 alone, the museum’s TikTok account reached over 320,000 people. More importantly, the museum saw a 134% increase in visitors from the target age group, demonstrating the impact of this digital outreach. The initiative was also recognised within the industry: SFM received the Silver Award at the 2023 Digital Communication Awards in the Marketing to Youth category and won the Social Media Campaigns category of the DigAMus Awards, which honors particularly successful digital museum offerings in German-speaking countries.

Setting Future Generations up for Success

Museums have a dual responsibility: to preserve and share cultural heritage and to educate the public. This is especially true for museums with socio-economic themes, like finance. The SFM doesn’t just teach facts – it makes financial literacy an interactive, fun, and relatable experience for children and teenagers.

With its various initiatives, the SFM is showing that financial education doesn’t have to be dry or inaccessible. Through this commitment, the museum is helping future generations gain the knowledge and skills they need to manage the challenges of personal finance.