The core achievements and insights gained from the AFin network (“Action-based Financial Literacy – Conceptualization, Assessment and Validation”), a research initiative funded by the German Research Foundation (DFG), are summarized in this concluding chapter. The chapter revisits the network’s three key objectives: (1) the development of a holistic financial competence model, (2) the systematisation of existing assessment instruments, and (3) the creation of a holistic approach to assessing financial literacy. The AFin network addressed the fragmentation in financial literacy research by analysing and aligning inconsistent terminology, diverse frameworks, and assessment practices. Through systematic literature review and conceptual modelling, the project identified the necessity of integrating cognitive and non-cognitive dimensions, as well as financial behaviour, into competence models. The chapter outlines how existing frameworks and test instruments often lack theoretical grounding or holistic coverage, and presents a newly developed, generic process model of financial competence. This model allows for flexibility while reflecting the complexity of real-world financial decision-making. A scenario-based prototype assessment tool is also introduced to respond to current measurement limitations. The chapter concludes with a call for further interdisciplinary research, stressing the importance of methodological innovations to enhance ecological validity and ensure the relevance of assessments in real-life contexts. Ultimately, the chapter highlights the significance of research in personal finance in shaping future financial education, policy, and research.