Financial Literacy Inventory Test

Obtain a benchmark of your candidates’ skills with the Financial Literacy Inventory test.  It assesses a person’s basic knowledge of money management.

Self-scoring, self-interpreting, consumable, no other components needed.

The Financial Literacy Inventory test (FLI) measures a person’s basic knowledge of money management. 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.

What It’s Best Used For

• Vocational & Career Guidance Counseling: Helping individuals realize how their income metrics relate to structural career advancement, financial habits, and long-term personal stability.
• Auditing Banking & Budgeting Literacy: Evaluating a participant’s baseline capacity to maintain household checking accounts, track expenses, and structure a sustainable monthly budget.
• Assessing Credit & Debt Risks: Measuring an individual’s functional understanding of interest rates, loan terms, credit scores, and the long-term liabilities of accumulating consumer debt.
• Vetting Saving & Investing Habits: Benchmarking a client’s awareness of personal savings vehicles, retirement options, and investment strategies to motivate changes in spending habits.
• Gauging Consumer Rights & Risks: Checking a person’s underlying knowledge of financial fraud protection, consumer rights laws, and the everyday risks involved in digital or physical financial systems.
• Structured Post-Assessment Planning: Utilizing the tool’s integrated personal finance checklists, specific improvement suggestions, and goal-setting worksheets to map out concrete timelines for financial growth.

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. Finally, the FLI provides a personal finance checklist and goal-setting worksheet for individuals to better plan their financial futures.

This inventory is based on the national standards created by the JumpStart Coalition for Personal Financial Literacy, the Institute for Adult Financial Literacy, the FDIC’s Money Smart program, and the Indiana Financial Literacy Education standards for high school seniors.

The FLI gives test takers a benchmark to motivate them to revise their spending habits and learn more about their financial options. It also gives counselors, coaches, and other professionals the chance to step in and alleviate key financial hurdles that will stand in the way of their client’s success. Self-scoring and self-interpreting, the FLI takes approximately 20 minutes to complete.