Assessing the social and economic costs of poor adult literacy and numeracy skills, and the benefits of investing in such skills, is largely unchartered territory in Australia. This feasibility study explores the frameworks and methodologies available for determining and measuring such benefits and costs across a number of life domains, including health, finance and small business. Appended are: (1) The literature search; (2) The consultations; (3) List of people consulted; and (4) Overview of relevant Australian longitudinal studies. [Funding for this report was provided by the Australian Department of Education, Science and Training. For related support document, see ED495262.]