Scaling Financial Coaching: Critical Lessons and Effective Practices
The Great Recession brought the lack of basic financial know-how among many U.S. households into sharp focus, especially in low-wealth communities. The combination of depleted or nonexistent savings, high-cost credit, and consumer debt became a familiar cause of financial distress for vulnerable individuals and families. This report attempts to capture the learning that took place by providing financial capability training for over 1,500 practitioners and supporting 30 leading non-profits focused on developing and assessing financial coaching programs. The report’s analysis centers primarily on the learning cohort’s experiences, emerging best practices, and client-level outcome data.