“AFin - Action-based Financial Literacy – Conceptualization, Assessment and Validation”
People's Financial Literacy (FL) is not only relevant for their individual financial situation, but has the potential to influence economies across borders. FL proves itself in adequate financially competent action in a given situation. In order to develop appropriate measures to foster individuals' FL, a holistic understanding of FL is required that takes into account not only knowledge aspects, but also motivational aspects, attitudes and financially competent action.
The Goals of the network
The scientific network "AFin - Action-based Financial Literacy - Conceptualization, Assessment and Validation" aimes to develop such a holistic framework for a competence model in three steps, which forms the basis for valid measurements of FL and provides the prerequisite for effective promotion approaches.
The scientific network was initiated by Prof. Dr. Manuel Förster (Applicant, TUM), Prof. Dr. Mandy Hommel (Co-Responsible, OTH Amberg-Weiden), Prof. Dr. Carmela Aprea (University of Mannheim), PD Dr. Roland Happ (University of Leipzig), Prof. Dr. Bärbel Fürstenau (TU Dresden) and Prof. Dr. Eveline Wuttke (Goethe University Frankfurt a. M.). In total, 18 national and international scientists are collaborating to accomplish the set goals.