ABSTRACT
The starting point of a study on the assessment of financial literacy is a clear definition of financial literacy itself. The aim of this chapter is to highlight what has to be taken into account in the assessment of financial literacy (and what should not). The fact that different individuals can show different financial needs (according to their different financial status, different age, etc.) suggests that financial literacy is a relative concept, and its assessment cannot be based on a “one size fits all” approach. After an analysis of the financial literacy construct and its key elements (financial knowledge, financial skills, financial attitude, etc.), the chapter proposes a review of previous studies, based on different definitions and measures of financial literacy. The comparison of different points of view is used to achieve a conclusion about what is financial literacy and how it should be measured.
