Financial Literacy Research Network “AFin – Action-oriented Financial Literacy – Conceptualisation, Assessment and Validation”

Financial literacy of citizens is not only relevant for the respective individual financial situation, but also has the potential to influence national and even international economies. Financial literacy is particularly evident in situationally appropriate financial behaviour. It is particularly important to have a uniform and holistic understanding of financial literacy. This is how suitable measures can be developed to promote and measure financial literacy. Both cognitive and motivational aspects, attitudes and financially competent behaviour must be taken into account.

The aim of the scientific network “AFin – Action-oriented Financial Literacy – Conceptualisation, Assessment and Validation” is to develop the framework for such an understanding of financial literacy in three steps. This should form the basis for a valid measurement of financial literacy and the prerequisite for effective promotion approaches.

The three development steps comprise the following objectives:

  1. development of a holistic competency model that explicitly integrates financial action into the model.
  2. systematisation of existing sub-instruments and underlying constructs with regard to their relevance for the developed competency model.
  3. development of a validation concept with a focus on the operationalisation of financial action as a basis for targeted support.

A group of 20 national and international researchers are cooperating to obtain these objectives.

The research network is funded by the German Research Foundation (DFG).

Project status: ongoing

Project team

  • Prof. Dr. Carmela Aprea
  • Prof. Dr. Tabea Bucher-Koenen
  • Ronja Baginski
  • Manuel Vogler
  • Clara Vonhof

Cooperation partners

Prof. Dr. Manuel Förster (TUM), Prof. Dr. Bärbel Fürstenau (TU Dresden), Prof. Dr. Roland Happ (University of Leipzig), Prof. Dr. Mandy Hommel (OTH Amberg-Weiden), Prof. Dr. Eveline Wuttke (Goethe University Frankfurt)

Further information on the project and a complete list of network members can be found here: