attempto online
20.01.2025
Strengthening financial education via app
330,000 euros in funding for project with the participation of LEAD Graduate School & Research Network
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 Taiga Brahm and Lucy Haag of the University of Tübingen's LEAD Graduate School & Research Network are involved, is dedicated to this topic. ‘FiLapp’, short for ‘Financial Literacy App – Bridging the Gap for Marginalized Adolescents’, is now being funded by the German Federal Ministry of Education and Research (BMBF) for three years with a grant of €330,326. The project 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 this large-scale investigation, 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 Technical University of Munich (TUM) and the Leibniz Institute for Research and Information in Education (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) and PD Dr. Ulf Kröhne (DIPF). The operative project lead is LEAD member Lucy Haag.
Rebecca Beiter, LEAD Graduate School & Research Network
rebecca.beiter@uni-tuebingen.de
Further information
FiLapp summary in Tübingen's research database