P4P Planning Network Resource Hub

The P4P Planning Network was launched by Partners for Planning to support relatives, friends, or caregivers of a person with a disability with planning resources and tools. Resources on relationship building, school transitions, community involvement, financial objectives and more are shared and continuously updated on the website. 



Living your retirement

These resources from the Ontario Securities Commission are oriented towards planning for retirement. Resources include tips on insurance planning, government benefits, RRSP calculator, and more. 

Emerging Technology for All: Conversational AI’s Pivotal Role

This infographic is a preview of Commonwealth's research survey of 1290 lower-and moderate-income people to understand their perceptions, needs, and uses of conversational AI. 

Control, Sufficiency, and Social Support Lessons from Low-income Canadians about Financial Wellbeing

This report examines how diary participants achieve the financial wellbeing that they have. The evidence we found is that low-income people work very hard to manage their finances. They endeavor to control their finances so that, as one participant said, their finances don’t control them. They must prioritize needs and wants because there is not enough for both. One participant talked about her goal of having a ‘little bit more’ than her needs so that there was a little extra for savings or small purchases or trips. Finally, we saw that family and friends are terribly important for achieving financial wellbeing because social supports can provide loans, gifts, and emotional support. Having a low-income means that banks offer few financial supports. Of course, family and friends also make demands.

Money Mentors – Savings & Debt Resources

Collection of money management resources, including how create effective budgets, realistic spending plans, deal with your debts, save more money, build a stronger credit rating, and prepare for retirement.



Recordkeepers’ Role in Providing Emergency Savings for an Inclusive Recovery

In this webinar, Commonwealth in partnership with DCIIA Retirement Research Center (RRC) and SPARK Institute present findings from our new research about drivers and considerations of recordkeeper-provided emergency savings and host a discussion with industry experts.

Prosperity Now Scorecard Cost-Of-Living Profiles by State

Prosperity Now has created state-level Cost-of-Living profiles as new features on their Scorecard website. The Prosperity Now Cost of Living profiles provide a comprehensive look at the financial stability of every person living in the United States. Each state profile can be downloaded and used to determine the true cost of living is in the state, based on median monthly income and discretionary spending left at the end of each month after expenses. These values determine what is left over for emergency expenses and long-term aspirational expenses. 

This video presents the cost of living in Georgia.



Tax Time: An opportunity to Start Small and Save Up

This paper provides a description of how having liquid savings contributes to people’s financial stability and resiliency, and the unique opportunity that tax time offers to begin saving for the short and longer term. Starting to save or continuing to save when receiving a tax refund may lead to longer term financial well-being. 

This paper also provides a few examples of how Volunteer Income Tax Assistance (VITA) programs creatively used Bureau tools, resources and technical assistance to encourage savings as well as some of the results they reported. It provides insights from a subgroup of the programs in the cohort that collected additional information from consumers on their intent to save, the various types of accounts into which they saved, and the goals they were striving for by saving. Finally, this paper offers recommendations on some strategies that can be employed to increase people’s interest and commitment to saving during the tax preparation process. 



Planning for tax-time savings

This report presents the results of a large-scale field experiment that the tax preparation company H&R Block (the Company) conducted in collaboration with the Consumer Financial Protection Bureau (the CFPB). The field experiment investigated whether customers could be encouraged, through consumer communications with and without the offer of a small financial incentive, to use a savings feature on a prepaid card to save a portion of their tax refunds from all sources, including state and federal refunds. The CFPB was particularly interested in whether consumers who receive the Earned Income Tax Credit (EITC) would be receptive to messages about saving. 



2020 Financial Literacy Annual Report

The 2020 Financial Literacy Annual Report details the United States' Bureau of Consumer Financial Protection's financial literacy strategy and activities to improve the financial literacy of consumers. Congress specifically charged the Bureau with conducting financial education programs and ensuring consumers receive timely and understandable information to make responsible decisions about financial transactions. Empowering consumers to help themselves, protect their own interests, and choose the financial products and services that best fit their needs is vital to preventing consumer harm and building financial well-being. Overall, this report describes the Bureau’s efforts in a broad range of financial literacy areas relevant to consumers’ financial lives. It highlights our work, including the Bureau's:

  • Response to the COVID-19 pandemic
  • Pivot to financial resilience
  • Start Small, Save Up campaign
  • Foundational research to understand the pathways to financial well-being
  • Misadventures in Money Management online training program
  • Managing Someone Else’s Money guides
  • Your Money, Your Goals toolkit
  • Paying for College tool
  • Direct to consumer tools, community outreach channels, and areas of research



Retirement Security and Financial Decision-making: Research Brief

A growing number of retirees are not experiencing the expected gradual reduction in spending after they retire. This report summarizes the findings of a Bureau study into whether people who retired between 1992 and 2014 had the income, savings, and/or non-housing assets to maintain the same level of spending for at least five consecutive years after retiring. The study found that about half of people who retired between 1992 and 2014 had income, savings, and/or non-housing assets to maintain the same spending level for five consecutive years after retiring. In addition, the Bureau found that the ability to maintain the same spending level in the first five years in retirement was associated with large spending cuts in later years. The study helps identify ways to protect retirees from overspending their savings in early retirement.



Change Matters Volume 2: Assets

This is the second brief in a new series from The Financial Clinic. Change Matters leverages the data gathered through our revolutionary financial coaching platform, Change Machine, alongside the voices, wisdom, and lived experiences of Change Machine customers. We hope that our action oriented analysis will lead to positive social change. We believe we have a responsibility to ask the right questions, to use our data for good, and to inspire products, practice, and policy innovations that centralize the needs of the working-poor in building economic mobility.



Review of Financial Literacy Research in Canada: An Environmental Scan and Gap Analysis

The Review of Financial Literacy Research in Canada highlights past and current advancements in financial literacy research (produced by government and non-governmental stakeholders) while identifying existing gaps within the financial landscape. The overriding goal is to help strengthen the financial well-being of all Canadians. The review contains four research priorities: managing debt, navigating the financial marketplace, building savings, and budgeting.



Indicators for Financial Empowerment: Learnings from the National Financial Empowerment Champions Project

This resource offers a set of common indicators that community organizations can use to measure the reach and impact of their financial empowerment (FE) programming. It is intended for any community organization that works to foster greater financial well-being for economically disadvantaged Canadians.

This resource compiles the key performance indicators (KPIs) and presents them for use by community organizations beyond the National Financial Empowerment Champions (FECs) partners. The KPIs have been refined in response to partners’ feedback and in recognition of developments in the FE field, ensuring that the definitions reflect current and best practices in the field of financial empowerment/financial literacy in Canada and the USA.