Financial Capability and Financial Health

Evidence-based strategies about initiatives to promote financial security, including financial resilience, capability, inclusion, financial wellness, coaching, skills, knowledge, and behaviours.

An important consideration when thinking about an individual’s financial capability and financial health is
cultural and social practices around money.

How to Navigate this Page

Select policy targets and evidence-based strategies that are priorities and achievable within your setting and sector. Align with your mandate, capacity, jurisdictional boundaries, and scope of practice.

Strategies marked with ☔ are important for populations-at-risk.

Entry Point for Action:
Reflects the organization’s or government unit’s sector scope and mandate

Policy Target:
Relates to the initiative’s focus

Evidence-based Strategies:
Concrete actions to guide initiatives’ design, delivery, and evaluation

ENTRY POINT FOR ACTION

Expand Provision, Regulation, and Funding to Care, Education, and Transportation Services

Health care, including health care related services (e.g., dental and pharmaceutical care)

Government units provide substantive public financing to universal health coverage and use funds effectively to ensure equitable access to no-cost or affordable high-quality health services and financial protection to all ☔

SAMPLE INDICATORS

In countries with universal government-funded health systems:

Eligible people’s (e.g., citizens) levels of satisfaction with the quality of health care services
People’s perceived level of difficulty in accessing health care services (e.g., eligibility for services)
Number/percentage of government units with regulatory and financial policy tools for essential services
Number/percentage of people ineligible for the universal health care system (e.g., noncitizen residents) who report having access to high-quality health services at low cost
Perceived ability to meet health-related costs among people ineligible for the universal health care system, stratified by socioeconomic status
Trends of out-of-pocket expenditures on health among people ineligible for the universal health care system
Number/percentage of people ineligible for the universal health care system reporting fear of the financial costs associated with health care use
Inequalities between eligible and ineligible groups regarding health status, use of health care services, and health-related debts

In countries with (non)universal public and/or private insurance systems:

Number/percentage of government units with effective regulatory controls ensuring actions from for-profit and not-for-profit organizations are aligned with the public interest and health goals, particularly regarding quality, costs, and access to health services
Number of countries with regulation of private sector and good regulatory capacity ensuring strict management and financial protection in the health care sector
Average of household expenditure on health care expenses, stratified by socioeconomic status
Individual perceived financial hardship associated with use of private health care services
Health inequalities between patients of the private health care sector and patients of the public health care sector
Financial health inequalities between patients of the private health care sector and patients of the public health care sector
Number/percentage of Emergency Department visits, stratified by socioeconomic status
Number/percentage of preventable pediatric hospitalization per year, stratified by socioeconomic status
Average cost of an admitted emergency visit

ENTRY POINT FOR ACTION

Provide Sustainable Funding to Programs and Services

Financial capability programs (i.e., attitude, knowledge, skills, and self-efficacy for dayto-day money management)

Government units provide funding and guidelines for financial capability programs that reflect a holistic approach to financial strain and financial wellbeing as well as the application of user-centered principles in the design, implementation, and evaluation of initiatives

SAMPLE INDICATORS

Number/percentage of financial capability programs using key performance indicators to measure success (e.g., change in participants’ self-rated or measured financial capability) that go beyond funder priorities (e.g., participation rates) and consider multiple aspects of people’s lives
Number/percentage of financial capability programs that address the social and structural determinants of people’s financial circumstances

ENTRY POINT FOR ACTION

Simplify Access to Benefits & Services

Design supportive social welfare

Initiatives address the underlying root causes of financial strain, supporting individuals and families who otherwise would rely largely on government benefits for a long period of time; i.e., the positive effects of social welfare on financial wellbeing go beyond the time people were enrolled in the programs ☔

SAMPLE INDICATORS

Number/percentage of people feeling their financial situation is worsening
Levels of financial stress (e.g., stratified by sex, gender, race/ethnicity, or household income)
Poverty levels

ENTRY POINT FOR ACTION

Budget for Wellbeing

Wellbeing in policy-making

Government units recognize financial wellbeing as a key aspect of overall societal wellbeing and make improvement of wellbeing at the population level a goal of public policies

SAMPLE INDICATORS

Number/percentage of initiatives defining improvements in individual financial circumstances as a top priority
Overall wellbeing rates at the population level

Recalibration of benefits

Initiatives ensure social welfare payments go beyond covering basic subsistence levels and reflect adjustments to reductions in purchasing power of wages and rising local costs of living ☔

SAMPLE INDICATORS

Number/percentage of recipients lifted out of poverty
Median household income of beneficiaries
Beneficiaries’ perceptions of benefits adjusted to a livable wage
Overall wellbeing and financial wellbeing levels among beneficiaries (e.g., before and after recalibration of benefits)
Poverty gaps between beneficiaries and non-beneficiaries (who are financially better off)
Health gaps between beneficiaries and non-beneficiaries (who are financially better off)
Household food insecurity
Effects of increased monetary support on demand for programs

ENTRY POINT FOR ACTION

Expand Access to Financial Services & Products

Financial inclusion (i.e., access to the formal financial system and institutions)

Initiatives help people who are unbanked or underbanked to participate in mainstream banking services through which people can cash or deposit cheques and safely save and access their money ☔

SAMPLE INDICATORS

Number/percentage of unbanked or underbanked people
Trends in banking account ownership
Access to basic services (e.g., heating and water) increase among people who were previously unbanked or underbanked
Chances to secure employment improve among those people who recently obtained access to mainstream banking services
Number/percentage of people receiving electronic social welfare benefits payments

Initiatives focus on helping people to build credit score, access specialized loans (e.g., for home ownership), improve ability to save by providing low-fee or no-fee banking services and products, matched savings, and/ or financial counseling, and support wealth accumulation ☔

SAMPLE INDICATORS

Number/percentage of participants who established a credit score for the first time at the end of program
Number/percentage of people reporting an increase in their credit score
Number/ percentage of low-income people who apply for and are successful in obtaining specialized loans
Annual personal savings rate
Average saving per person increases, particularly among low-income earners, while also being able to meet other financial obligations
High number/proportion of people receiving high-quality financial advice online or in-person

Initiatives promote fair access to the financial sector and provide new, tailored services and products for unbanked or underbanked people who are often considered to be too risky and less profitable as clients ☔

SAMPLE INDICATORS

Number/percentage of innovative and affordable or no-fee banking services and products
Access to innovative and affordable or no-fee banking services and products
Number/percentage of underbanked, low-income people who agree with the statement that banking services and products meet their unique needs and short- and long-term goals
Number/percentage of low-income people with access to no-fee banking services and products

Initiatives are multidimensional and are attuned to the particular values and needs of different groups, depending on people’s social background and identities, instead of adopting a one-size-fits-all approach ☔

SAMPLE INDICATORS

Availability of affordable or no-fee banking services and products (e.g., per jurisdiction)
Number/percentage of clients who report that their banking services accommodate their individual values and needs (e.g., relative to socioeconomic status or life circumstances)
Number/percentage of people who report that they can easily find and access banking services and products that meet their needs

Initiatives expand their offerings of financial services in the communities of target disadvantaged population(s), where banking outlets are often limited and quick-cash outlets are common ☔

SAMPLE INDICATORS

Distance to the nearest banking outlets for target population(s)
Number/locations of banking outlets in a given area relative to the distribution of the population’s need for services

Initiatives provide accurate information on banking products and services that is widely and freely available, accessible, and easy for people with low English and French (other official languages) literacy and/or little previous exposure to banks and financial services to read and understand ☔

SAMPLE INDICATORS

Number/percentage of initiatives using infographics (or other visual means) in their information materials to support easy and clear communication of a topic
Availability of materials through different media channels (e.g., magazines, websites, billboards, brochures, social media)
Number/percentage of initiatives adopting inclusive communication through language and format (e.g., adequate font size for people with impaired vision and plain language use)

Mainstream (formal), semi-formal, and informal financial services and products

Initiatives recognize that financial inclusion strategies (i.e., access to formal financial products and services) may have positive and negative impacts on a person’s financial situation, which depends on the structures (i.e., financial products) and institutions (i.e., policies, programs, and services) of the financial sector

SAMPLE INDICATORS

Knowledge of the advantages and disadvantages of the formal financial system
Perceived access to affordable, no-fee financial services and products within the formal financial system (e.g., among disadvantaged people)

Initiatives consider the possible unintended consequences of financial inclusion strategies (i.e., access to formal financial products and services), such as taking on increased debt while building credit or prioritizing saving over emergency or basic needs, which can lead to, for example, the use of quick cash loans or borrowing from family or friends. Initiatives tailor strategies to protect disadvantaged groups who are using formal financial services and products from engaging in risky financial behaviours ☔

SAMPLE INDICATORS

Number/percentage of people who asked for an extension for repayment
Number/percentage of people who failed to repay loan instalments by the deadline
Number/percentage of people who take loans to repay existing loans
Perceived level of difficulty to manage debts

Initiatives aim to help identify the most affordable, reliable options with fewer conditions that meet each person’s financial values, needs, and goals through either mainstream banking services or semi-formal and informal financial products and services ☔

SAMPLE INDICATORS

Financial confidence levels (e.g., among disadvantaged groups)
Number/percentage of people who report ease in finding the financial services and products they need within formal, semiformal, and informal financial systems, that are supportive to their financial security (e.g., stratified by deprivation levels)

Initiatives acknowledge that appropriate and fair semiformal and informal financial markets (e.g., borrowing from moneylenders and friends) may fit local sociocultural norms and the circumstances of a person’s life. It recognizes that semi-formal and informal (non-exploitive) financial products and services may provide flexibility in terms of transactions and contracts and may offer reliable, free or low-cost options, particularly for people who experience complex needs. These may be viable alternatives for certain groups of people (e.g., those experiencing low-income) to achieve financial wellbeing ☔

SAMPLE INDICATORS

Availability and accessibility of accurate and relevant information about semi-formal and informal financial services, products, and practices
Number/percentage of people reporting confidence in assessing the advantages and disadvantages of the non-mainstream banking system (e.g., among disadvantaged groups)
Number/percentage of disadvantaged people reporting that reliable semi-formal or informal financial services and products better meet their needs
Availability and perceived accessibility of mechanisms for people to report abusive and exploitation financial practices and obtain timely redress

Financial literacy (i.e., knowledge and skills) and financial capability (i.e., attitude, knowledge, skills, and self-efficacy for day-to-day money management) programs

Considering people’s financial values, needs and contextual factors, initiatives help with knowledge acquisition about financial systems, institutions, products, services, and household finances as well as support skill development to help people navigate financial services and programs

SAMPLE INDICATORS

Availability of in-person (face-to-face or virtual) financial literacy programs
Availability of online financial literacy programs
Access to financial literacy programs (e.g., to all people in the community)
Availability of free or low-cost financial literacy programs
Knowledge of financial systems, institutions, products, services, and money management
Number/percentage of people who report knowing where to find the accurate, relevant, timely information needed to support their financial decision-making
Number/percentage of people who report shopping around and being able to consider several options before making a financial decision

Building upon financial literacy strategies, initiatives support adoption of positive attitudes and behaviours towards saving, borrowing, spending, and planning to better inform and facilitate people’s financial decision-making

SAMPLE INDICATORS

Availability of free or low-cost financial in person (or online) capability programs
People’s perceptions of the level of difficulty required for accessing financial capability programs (e.g., stratified by socioeconomic status)
Number/percentage of people with positive attitudes towards saving before and after participation in financial education programs
Number/percentage of financial educators and practitioners who report participants developed negative attitudes toward risky borrowing
Confidence in knowledge and skills regarding day-to-day money management
Number/percentage of people whose basic needs are met reporting staying within their budget (e.g., stratified by age and socioeconomic status)
Perceived ability to meet financial obligation and daily needs
Number/percentage of people who report considering spending money carefully and making informed financial decisions (e.g., stratified by sex, gender and age)

Initiatives consider the context that constrains or enables people to exercise their money management decisions (e.g., insufficient income to cover basic expenses) and act in accordance with people’s best interests ☔

SAMPLE INDICATORS

People’s perception of financial practitioners hearing and respecting their financial concerns and needs
Number/percentage of people who felt that financial practitioners developed customized strategies that met their needs and values
Number/percentage of financial educators and practitioners who report delivering personalized financial guidance and information according to people’s life circumstances and trajectories
Level of agreement with the statement that personalized steps outlined for improved financial literacy and capability are realistic and achievable

Initiatives help people to make informed decisions about what financial services and products reflect their values, meet their needs, and support their short- and long-term goals

SAMPLE INDICATORS

Number/percentage of people who report knowing where to find appropriate, relevant, and accurate financial information and advice for making financial decisions
People’s perceptions of difficulty in finding financial services and products that meet their needs and values

Initiatives help people identify alternatives to using popular, but exploitative financial practices (e.g., payday lenders or cheque-cashing services)

SAMPLE INDICATORS

Number/percentage of people feeling confident about their financial knowledge and skills in identifying and avoiding exploitative financial services and products
Number/percentage of people who report understanding the warning signs of financial exploitation

Initiatives provide independent information, resources, and tools on formal, informal, and semi-formal financial services and products

SAMPLE INDICATORS

Number/percentage of financial educators and practitioners who report delivering content/sessions dedicated to informal and semi-formal financial services and programs
Number/percentage of financial literacy and financial capability program participants who now feel well-informed on financial facts and concepts (i.e., improved financial knowledge)
Number/percentage of financial literacy and financial capability program participants who now feel well-instructed on how and where to find, understand, and act on financial resources (i.e., improved financial skills)

ENTRY POINT FOR ACTION

Strengthen Employment Security (Income and Benefits)

Employment stability

Policies and programs ensure employment conditions and work practices are stable, inclusive, and supportive of wealth generation, health, and overall wellbeing

SAMPLE INDICATORS

Availability of opportunities for promotion and career advancement (e.g., stratified by sex, gender, sexual orientation, and race/ethnicity)
Accommodation of breastfeeding employees’ requirements in workplaces
Number/percentage of terminations of employment for failure to perform due to age or disability (i.e., where no legal protections exist)

Income Security

Government units and organizations develop strategies to prevent and address the consequences of income volatility associated with economic recessions, declines in stable contractual employment arrangements, increases in unemployment and underemployment rates, and decreases in cash assistance provided through welfare programs ☔

SAMPLE INDICATORS

Number/percentage of existing programs and benefits that expand their target audiences, including population groups with need who were not previously targeted
Availability of new supports and benefits for target groups with high, complex needs
Access to income supports (e.g., among workers in precarious employment and working age people out of the labour force)
Income security (e.g., among workers in precarious employment and working age people out of the labour force)
Self-reported high/low variability of income

Initiatives address people’s lack of access to sufficient and sustained income through education and job training opportunities, increase in cash welfare benefits, removal of minimum requirements for participation in welfare programs, and improved access to reliable, affordable financial services and products, including specialized loans with no or low fees ☔

SAMPLE INDICATORS

Number/percentage of low-income people who enroll in free or low-cost education and training courses
Trends in the highest level of education achieved by adults
Availability of varied reliable, affordable financial services and products (e.g., to low-income people)
Availability of cash assistance
Perceived ability to provide for oneself and one’s family
Perceived ability to cover basic needs and enjoy economic stability (e.g., among low-income individuals and families)
Number/percentage of people who report having money left over after meeting basic needs

ENTRY POINT FOR ACTION

Include Cultural Values of Financial Practices & Ways of Living

Instrumental and symbolic value of money and assets

Framework graphics with the entry point 'Foster Connection & Belonging' highlighted

Initiatives acknowledge that the significance of economic resources is both instrumental (from a utilitarian approach/ as a commodity) and symbolic (from a relational, value-based approach)

SAMPLE INDICATORS

Number/percentage of people reporting not feeling judged for their cultural values shaping their financial decisions
Number/percentage of people who report finding supportive environments to share their stories and lived experiences when discussing financial issues

Initiatives recognize the plurality of rationalities (e.g., solidarity and family relationships) operating in financial decision-making, which may go beyond and above weighing economic costs and benefits

SAMPLE INDICATORS

Perception about strategies being respectful to the people’s sociocultural values and meanings attributed to their economic resources
Number/percentage of people who report not feeling bullied or intimidated by staff over financial matters
Number/percentage of records of abusive interactions with staff during financial decision-making

Culturally appropriate and sensitive strategies

Initiatives consider the diverse and complex social, cultural, and historical conditions of people’s lives, communities, or population groups ☔

SAMPLE INDICATORS

Number/percentage of initiatives with flexible implementation to accommodate targeted populations’ values and needs

Sociocultural norms and moral values around financial transactions

Initiatives contextualize the sociocultural appropriateness of financial practices and programs. Service providers have a clear, shared understanding of why some population groups – even when struggling financially – feel responsible and obliged to provide financial support and ensure financial wellbeing of their peers, friends, and relatives ☔

SAMPLE INDICATORS

Number/percentage of people who report difficulties in refusing to lend money to family and friends
Number/percentage of people feeling confident they can turn to relatives and friends for financial emergencies
Periodic staff training programs and learning opportunities about recognition and respect of diverse sociocultural norms and expectations around financial practices

Self-worth and values of people’s different ways of being and doing

Initiatives that focus on equity and inclusion increase the symbolic and economic value of people’s many roles, including targeting ways of being and doing that are typically unpaid and/or undervalued ☔

SAMPLE INDICATORS

Number/percentage of caregivers feeling that society acknowledges their work by providing paid leave with no contingencies or conditions
Levels of self-reported satisfaction with government unit assistance and paid caregiving services (e.g., stratified by socioeconomic status)
Financial stress among caregivers (e.g., stratified by age, sex, and gender)
Number/percentage of initiatives that acknowledge, respect, protect, and incorporate ancestral knowledge and traditions from Indigenous communities
Number/percentage of Indigenous communities that feel the initiative symbolically values the cultural and environmental work they perform in the community (e.g., in remote communities)
Distribution of benefits per type of caregivers

ENTRY POINT FOR ACTION

Address Stigma & Discrimination (e.g., systemic racism and ableism)

Stigma and shame of debts

Initiatives recognize and address stigma and shame surrounding unmanageable financial debt (i.e., high debt levels compared to annual household income). Initiatives move away from judgmental language and adopt a strengths-based approach to support people managing their debts ☔

SAMPLE INDICATORS

Individual levels of financial stress due to high debt load
Number/percentage of people seeking appropriate, reliable support to debt repayment
Number/percentage of people who report feeling that their debts are easily manageable
Level of non-mortgage debt before and after program

Access to financial services and products

Initiatives ensure equitable conditions for all people to access financial resources and products ☔

SAMPLE INDICATORS

Number/percentage of people who report enjoying power to choose whatever financial services and products best meet their needs (e.g., stratified by socioeconomic status)
Web accessibility
Use of assistive technology in online and mobile financial services
Number/percentage of rural and remote communities with adequate broadband infrastructure
Trends in use of financial apps and online services (e.g., among people with vision disabilities)

Wealth-building

Initiatives address the root causes of socioeconomic deprivation and financial exclusion and recognize that historic, persistent discrimination against certain population groups has imposed barriers to building intergenerational wealth (i.e., more assets and/or money)

SAMPLE INDICATORS

Household wealth by age (e.g., stratified by race/ethnicity, immigration status)
Share of household wealth by generation
Trends of wealth distribution at societal level
Levels of participation in government-led saving plans/accounts to fund post-secondary education for children (e.g., stratified by household income, immigration status)

Financial decision-making power (imbalances)

Initiatives address power imbalances in financial decision-making and promote individual agency, particularly among disadvantaged groups who are the target of financial abuse ☔

SAMPLE INDICATORS

Perceived control over financial resources
Percentage of conditional cash transfers to women (compared to men)
Social benefits payment to the accounts of people experiencing disabilities
Self-reported shared responsibility for managing household finances
Self-reported financial role within household (i.e., dependent, contributor, key financial decision-maker)
Person responsible for budgeting in the household

ENTRY POINT FOR ACTION

Foster Connection & Belonging

Financial empowerment

Framework graphic with the entry point 'Include Cultural Values of Financial Practices & Ways of Living' highlighted

Initiatives design specific strategies for empowering those who feel powerless and like they lack control over their circumstances ☔

SAMPLE INDICATORS

Number/percentage of people who report gaining or renewing their sense of control over their financial and life circumstances (e.g., stratified by sex, gender)
Perception of ability to plan for financial future (e.g., stratified by age, immigration status)

ENTRY POINT FOR ACTION

Develop around People’s Everyday Realities

Entry requirements for community services and programs

Initiatives remove contingencies and conditions that limit enrolment (e.g., providing matched savings, which is by design contingent on initial savings and housing loans for high-engagement participants) ☔

SAMPLE INDICATORS

Ratio of recipients to people who meet program eligibility criteria
Annual recipiency rates
Number/percentage of people who report feeling encouraged to register in the programs and services
Number/percentage of people with multiple, complex needs who have their benefits granted

ENTRY POINT FOR ACTION

Consider Diverse Household Financial Circumstances

Savings

Initiatives acknowledge that a person’s ability to save is intrinsically related to their social and financial situations. Savings-targeted initiatives consider how people are financially coping on a weekly basis as well as understand the nature of their work, their employment security and working conditions, the absolute level, volatility and source of their income, welfare payments, and their life goals and priorities ☔

SAMPLE INDICATORS

Number/percentage of people who report increasing their savings balance on a monthly or yearly basis, regardless of the amount
Number/percentage of participants who report that they do not feel judged for their inability to save money
Number/percentage of people who find it difficult to come up with a lump sum of money for an emergency

Initiatives develop a customized achievable and realistic financial strategy for savings that aligns with a person’s life and financial circumstances, including their unique goals, values, and needs

SAMPLE INDICATORS

People’s perceived ability to save money
Participation rate in automatic savings programs
Self-reported amount (e.g., in Canadian dollars) that could be raised in a week
Number/percentage of people who report savings for more than six consecutive months

Financial resilience

For population groups whose basic needs are already met, initiatives provide supports for people to improve their capacity to cope in times of financial adversity (i.e., financial resilience) so they are better equipped to weather and recover from a future financial shock, such as an unexpected major expense or income drop. For population groups struggling to meet their basic needs, initiatives first focus on addressing the barriers limiting people’s abilities to afford essential necessities, such as food and shelter ☔

SAMPLE INDICATORS

Self-reported savings balance
Individual debt management skills
Self-reported capacity to meet living expenses (e.g., change in capacity over time)
Confidence levels in ability to raise emergency funds (e.g., stratified by income levels)
Average number of owned financial products (e.g., bank account, credit, insurance)
Confidence levels in financial decision-making among participants of financial capability programs (i.e., knowledge acquisition, skill development, and concrete opportunities for behaviour change)
Number/percentage of people who report leveraging financial support from social networks to meet their financial needs
Number/percentage of people who feel their community connections help them navigate available services (i.e., proxy of social capital)

Financial rehabilitation (i.e., starting over financially without debt)

Initiatives raise awareness of the ripple effects of financial rehabilitation (e.g., limited opportunities for buying a house or opening a business) and the stronger negative impact on people with a low income and insecure employment relative to people of higher socioeconomic status ☔

SAMPLE INDICATORS

Number/percentage of people who report having access to clear and accurate information about the socioeconomic consequences of filing for bankruptcy, such as a reduced credit rating (included in their credit reports for years) and difficulties in obtaining loans, a mortgage, or credit cards
People’s reports on their experiences in finding and using free, reliable, and unbiased financial advice (e.g., credit counsellor) to help them navigate their debts and improve their financial situations
Bankruptcy rate

Initiatives help people make informed decisions about their actions towards their debts and find the best alternatives for different socioeconomic groups, considering people’s life circumstances ☔

SAMPLE INDICATORS

Confidence levels about plans to pay off debt
Individual’s perceptions of progress towards paying down their debt
Number/percentage of participants who report knowing how and where to go for information and advice before making financial decisions

Initiatives minimize the risks of bankruptcy-triggering poverty traps among disadvantaged people with insecure jobs and low and volatile income. Initiatives seek to equalize their conditions to those of people with access to sufficient and secure employment and steady and livable income ☔

SAMPLE INDICATORS

Financial attitudes and behaviours (e.g., credit use, spending, and savings) before and after filing for bankruptcy
Number/percentage of people who agree their bankruptcy meant a fresh start in life (e.g., stratified by socioeconomic status)
Levels of self-reported satisfaction with current financial situation (e.g., stratified by income levels)

Financial self-efficacy

Initiatives (including financial self-efficacy strategies) boost people’s financial confidence while acknowledging the enabling or constraining financial environment and one’s life circumstances ☔

SAMPLE INDICATORS

Confidence levels in financial skills
Confidence levels in financial decision-making
Perceived ability to pursue financial goals

Initiatives enhance knowledge of day-to-day money management and how to choose and use financial services and products while building upon people’s lived experiences of financial decision-making

SAMPLE INDICATORS

Number/percentage of people who report keeping watch of their financial affairs
Number/percentage of people who feel well-informed about finances
Number/percentage of people who report weighing risks and benefits before choosing financial services and products

Initiatives tailor the content of financial self-efficacy strategies that target low-income people and those who have experienced significant increases in expenditures in order to leverage external opportunities and mitigate barriers people face on a daily basis ☔

SAMPLE INDICATORS

Number/percentage of low-income people who feel the services and programs set up achievable and realistic goals for them
Number/percentage of people who report feeling confident about navigating through life transitions
Levels of confidence in budgeting and managing finances
Risks to debt (e.g., middle-income people facing financial windfalls)