Asset Funders Network’s Financial Coaching Working Group Presents Measuring Financial Coaching Outcomes
By focusing on behavioral changes, financial coaching is developing a track record for helping people improve their financial well-being. As a result, a growing number of funders are investing in financial coaching as a strategy to help individuals develop the capacity to manage their own finances and to sustain economic security through their self-defined goals. Measurement is increasingly important for funders, policymakers, and other stakeholders to better understand the impact and effectiveness of financial coaching investments and to advance the strategic growth and professionalization of the field.
As the financial coaching field grows, there is increasing pressure for organizations to support these client-driven goals, while remaining accountable to a variety of stakeholders requiring measurable outcomes. There is increased demand for clear and consistent ways to measure coaching outcomes.
This Strategy Spotlight discusses existing tools that funders can share with their grantees to assess coaching and financial capability outcomes. Funders can work with grantees to determine which tool—or combination of tools—should be used to measure client outcomes.