by Nora Veith and Marco Vietinghoff Ludwigsburg University of Education, Manuel Froitzheim University of Siegen
Location: U6 1D
For Teachers, Researchers
Theme(s):
Financial Education and Literacy 
Alternative Teaching Approaches Abstract: Matthias Sutter and Nora Veith, Max-Planck-Institute in Bonn
Michael Weyland and Marco Vietinghoff, Ludwigsburg University of Education
Manuel Froitzheim, University of Siegen
Keywords
Design-based research, financial education, task quality, digital learning environment, FiBiWELL
Abstract
Due to rising living costs, increasing pressure for private financial planning, and growing individual responsibility, basic financial literacy is now considered an essential life skill (OECD, 2018). However, significant educational gaps persist, both globally (Klapper et al., 2015) and also in Germany particularly among women, the elderly, and individuals with lower incomes or educational levels (Bucher-Koenen & Knebel, 2021). The German school system still lacks a structured approach to financial education (Kaiser & Menkhoff, 2021). Nevertheless, recent studies show that school-based programs can effectively enhance financial literacy (Sutter et al., 2023). One key question remains: Which specific task types and formats are most effective, and under what conditions?
The FiBiWELL project (Evidence-Based Financial Education: Effectiveness and Development Research on Quality Learning and Performance Tasks), funded by the Federal Ministry for Research, Technology and Space (BMFTR), aims to address this gap. The project brings together experts in education and behavioral economics to develop and test high-quality financial education tasks. Adopting a design-based research approach, the project integrates a review of existing studies with the development and evaluation of new tasks in close cooperation with schools and field partners. The project employs both qualitative and quantitative research methods, and it is developing a digital learning platform, an evaluation tool, and teacher training materials. Sample tasks demonstrate how financial topics can be taught in varied and meaningful ways. FiBiWELL supports evidence-based improvements in financial education and aims to help schools teach this important life skill more effectively.