Nagel promotes financial literacy with children book on payments
Bundesbank President Joachim Nagel presented a new children book on payment methods during World Children's Day at the Money Museum. The publication aims to strengthen early financial education and reaches over 6,500 libraries across Germany.
Spirits, cash and pocket money
Bundesbank President Joachim Nagel introduced the children's book “Geli Geldgespenst – Einkauf in der Krümelstube” to around 600 guests at Frankfurt's Money Museum.
Written by Laura Ferfort and illustrated by Sophia Stephani, the story follows a ghost character making independent purchases.
During the event, Nagel answered questions on payment symbols and his own habits: “I have paid with everything: cash, debit card, credit card or even with a watch.”
He emphasized that cash remains essential during power outages when card terminals fail.
Nagel also advised children on negotiating pocket money by offering help with household chores in return.
Free access across 6,500 libraries
The educational initiative seeks to build economic understanding early in life.
“If someone understands money and finance, monetary policy is also better understood,” Nagel explained.
The book is distributed free of charge at Bundesbank family events and has been delivered to more than 6,500 public libraries nationwide for lending.
In addition, the central bank provides the illustrated story alongside interactive quizzes, puzzles, and coloring templates as a free digital download on its website.
Smart outreach, modest impact
Promoting basic financial literacy among children addresses a structural knowledge deficit in German society.
However, distributing storybooks cannot substitute for systematic economics curricula in regular primary schools.
The initiative remains a welcome public relations campaign rather than a comprehensive educational reform.
Source: Bundesbank stellt neues Kinderbuch vor
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