In Latvia, students have voiced concerns regarding the superficial nature of financial literacy education offered in schools. A group of 12th-grade students from a Riga high school noted that the curriculum focuses more on entrepreneurial financial management rather than personal finance skills that would benefit them in future independent living. They felt that although budget-related topics were briefly covered, there was insufficient depth in understanding how to manage personal budgets effectively as they transition to adulthood.

The teaching challenges are exacerbated by a shortage of qualified teachers in the economics subject area, which has led to inadequate coverage of important topics related to personal finance, such as pension plans and investment opportunities. While some students learn about saving and investing from parents or online sources, there is a clear gap in formal education that could equip them with the necessary skills to navigate their financial futures. Educators are attempting to address these issues, but the need for a more comprehensive approach to financial literacy remains urgent.

To respond to this feedback, school authorities are planning to enhance the educational materials and structure surrounding financial literacy. The goal is to ensure that students are well-prepared for financial independence, understanding not only the basics of budgeting but also more complex financial decisions they will face in adulthood. This highlights the critical need for reforms in the educational curriculum to ensure that financial literacy remains a priority for future generations, equipping them with essential life skills.