A Much Closer Look: Enhancing Savings Counseling at Financial Empowerment Centers
Author:
Topic: Asset building and saving, Financial coaching & counselling
Publisher: CFE Fund - Cities for Financial Empowerment Fund
Location: Pennsylvania, United States
Format: Report
Content Type: Programs
Publication Date: March 1, 2018
, Topic: Asset building and saving, Financial coaching & counselling
Publisher: CFE Fund - Cities for Financial Empowerment Fund
Location: Pennsylvania, United States
Format: Report
Content Type: Programs
Publication Date: March 1, 2018
Building savings is a fundamental strategy for empowering individuals and families with low incomes. Even relatively small amounts of savings can serve as a buffer against inevitable financial shocks that can otherwise undermine social service efforts and successes – and short-term savings offer realistic first steps toward building longer-term savings and acquiring assets.
The CFE Fund conducted a research pilot at municipal Financial Empowerment Centers to better understand how clients are saving, and inform new savings indicators for financial counseling success. This report explains the insights of this research pilot, and client outcomes in savings and goal setting.
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