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INNOFIB - Lifelong learning and innovative financial education for all

In collaboration with Prof. Dr. Christine Laudenbach from the Leibnitz Institute for Financial Market Research SAFE (project coordinator) and colleagues Prof. Dr. Andrej Gill and Prof. Dr. Florian Hett from Johannes Gutenberg University Mainz, Prof. Dr. Oscar Stolper and his team will be conducting research in the INNOFIB - Lifelong Learning and Innovative Financial Education for All project from October 1, 2024 over a period of three years in various sub-projects on how general financial education in Germany can be sustainably improved.

What are effective and feasible measures to anchor financial education in schools across the board? Which new approaches to financial education outside of traditional educational environments should be considered and what is their potential? What role will AI-supported financial decisions play in the future and how will consumers deal with the increasing complexity of financial products? These are some of the sub-aspects of the joint project, which is being funded with around 1.25 million euros as part of the Empirical Educational Research (EBF) framework program of the Federal Ministry of Education and Research (BMBF).

Under the leadership of Prof. Dr. Oscar Stolper, the Behavioral Finance Research Group will develop application-oriented starting points in the sub-project Financial self-decision-makers between finfluencers and neobrokers - relevant financial skills and needs-based financial education to determine how the existing skills framework needs to be expanded so that the financial education required for competent interaction with finfluencers or informed use of neobrokers can be promoted for specific target groups.