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This 60 item assessment feeds into five scales: Income and Careers, Banking and Budgeting, Credit and Debt, Saving and Investing, and Rights and Risks. The FLI helps individuals determine how much they know about effectively managing their money, giving them both individualized scores on each of the scales as well as an overall assessment of their financial literacy. The FLI then offers guidance on how to improve the individual’s financial literacy and manage their money better through specific suggestions and online resources. It also gives test takers a benchmark to motivate them to revise their spending habits and learn more about their financial options. 2009.
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