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A much closer look: Enhancing savings counseling at financial empowerment centers

Alternate Title: 
Much closer look: Enhancing savings counseling at financial empowerment centers
Date Added to Library: 
Wednesday, April 11, 2018 - 11:22
Priority: 
high
Organizational Author: 
Cities for Financial Empowerment Fund
Individual Author: 
Grist, Nicky
Plat, Katie
Reference Type: 
Place Published: 
New York, NY
Published Date: 
February 2018
Published Date (Text): 
February 2018
Year: 
2018
Language(s): 
Abstract: 

This report, with generous support from Capital One, draws on data results from a two-city pilot to better understand how Financial Empowerment Center (FEC) clients are saving and ultimately inform new savings indicators for financial counseling success.

In 2017, financial counselors at Financial Empowerment Centers (FECs) in Nashville and Philadelphia tested an innovative approach to defining, discussing, and tracking their clients’ efforts to build savings, using new savings outcomes. The CFE Fund combined counselor and client experiences with academic and policy research to operationalize the field’s thinking about how people with low incomes save, to tell a more complete story about the impact of financial counseling on savings, and to learn whether changing a program’s data system affects the way financial counselors work and the results their clients achieve. (Author introduction)

 

Geographic Focus: 
Page Count: 
32
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