‘Financial education must come before distribution,’ Money Coach says in response to Budget 2026

Following the announcement of Malta’s Budget 2026, certified money coach Luca Caruana has called for a stronger national focus on financial education, arguing that new measures will only be truly effective if paired with improved financial literacy.

In a LinkedIn post reacting to this year’s Budget, Mr Caruana welcomed the new tax cuts for families, saying they will “help many households breathe a little easier.” He described the measures as a positive development for working parents currently struggling with rising school and living costs.

He also expressed support for MP Alex Borg’s proposal for a €5,000 Child Trust Fund, calling it an initiative that could “give every child a powerful head start – an investment pot that grows over time.”

However, Mr Caruana warned that the long-term impact of such financial measures hinges on wider public understanding of basic money management.

“If families don’t know how to budget, save, and invest wisely,” he wrote, “these benefits risk being spent rather than built upon.”

To ensure that the recent measures contribute to long-term financial resilience, Caruana urged policymakers to develop a nationwide financial education campaign led by “independent, qualified professionals rather than sales-driven institutions.”

He concluded with a clear message: “If we truly want to build a financially resilient Malta, education must come before distribution.”

Mr Caruana, who works with families and organisations through the Money Coaching Hub and financial wellbeing platform Monipal, has frequently advocated for greater access to credible money management information, saying that the foundation of prosperity lies not in increased income, but in making informed decisions about spending and saving.