Measuring Financial Literacy

35 Pages Posted: 17 Oct 2011 Last revised: 27 Oct 2011

Date Written: February 15, 2009


Financial literacy (or financial knowledge) is typically an input to model the need for financial education and explain variation in financial outcomes. Defining and appropriately measuring financial literacy is essential to understand educational impact as well as barriers to effective financial choice. This article summarizes the broad range of financial literacy measures used in research over the last decade. An overview of the meaning and measurement of financial literacy is presented to highlight current limitations and assist researchers in establishing standardized, commonly accepted financial literacy instruments.

Keywords: financial literacy, financial knowledge

Suggested Citation

Huston, Sandra J., Measuring Financial Literacy (February 15, 2009). Available at SSRN: or

Sandra J. Huston (Contact Author)

Texas Tech University ( email )

2500 Broadway
Lubbock, TX 79409
United States

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