Lifelong Learning and Innovative Financial Education for All (INNOFIB)

The project aims to provide an integrated analysis of the past, present and future of financial education and its distributional effects in Germany. What is the current situation of financial education in Germany? Where are the systematic differences between different social classes and age groups? What are the (historical) causes of these structures? In order to answer these questions, a comprehensive field study will be carried out at the individual level. Building on this, the project team is looking at various approaches to improving financial education in order to further develop effective and implementable measures. In its early stage the project focuses on financial education in schools, however, sustainable financial education must go beyond the pure school context. Sustainable financial education should be lifelong, change dynamically in its content and generally go beyond the mere transfer of knowledge. For this reason, the research team also focuses on future innovations and adaptations and explores new approaches to financial education outside of traditional educational environments. The joint project brings together various universities, research institutes and practice partners. Interdisciplinary methods from finance, business education, sociology, business informatics and psychology are used to generate evidence-based findings to strengthen financial education and derive concrete implications for educational equity.

Project leader: Christine Laudenbach
Project partners: Oscar Stolper (University of Marburg), Andrej Gill and Florian Hett (University of Mainz)
Project duration: 3 years