20.01.2025
Strengthening financial education via app
Financial Literacy Project gets more than 330.000€ BMBF Funding
How do I manage my money? How much do I save and how do I invest it? To be able to make good decisions like these, adolescents need a basic understanding of finances and money, better known as ‘financial literacy’. The “FiLapp“ project, in which LEAD members Taiga Brahm and Lucy Haag are involved, is dedicated to this topic – and which is now getting funded by the BMBF for three years with a grant of €330,326. The 'FiLapp' project ("Financial Literacy App - Bridging the Gap for Marginalized Adolescents", find more information here) is part of the BMBF's strategy to promote financial education and financial literacy.
How can we measure a person's financial literacy - and how can researchers help? This is where FiLapp comes in. It aims to develop a smartphone-based assessment tool to measure and improve financial literacy of disadvantaged adolescents, focusing on those with low socio-economic status or basic financial competencies. The App will provide practical, real-world scenarios and automated feedback to increase accessibility and motivation for young adults. The overall goal is to diagnose and foster financial literacy and decision-making skills.
For the researchers, a study is then due to be carried out after development of the App. Validated through a large-scale study, the researchers want to offer the tool as an open educational resource, including supplementary teaching materials, to support financial education efforts.
The project is a collaborative initiative led by the University of Mannheim, with partners from the TUM and the DIPF. The third-party funding was raised by Prof. Dr. Taiga Brahm, LEAD Graduate School & Research Network. Partners are Prof. Dr. Andreas Rausch (Uni Mannheim), Prof. Dr. Jürgen Seifried (Uni Mannheim), Prof. Dr. Samuel Greiff (TUM), PD Dr. Ulf Kröhne (DIPF). The operative project lead is LEAD member Lucy Haag.
Funded by | BMBF |
Funding amount | 330.326 € |
Funding duration | three years |
Media Contact
Rebecca Beiter
rebecca.beiter@uni-tuebingen.de
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