Family Finance Project (FFP) - Evaluation

1. Description of the programme
2. The study
3. Key findings
4. Points to consider

• Description of the programme
• The study
• Key findings
• Points to consider
• Full report

Description of the programme

[This is an extract from the Executive Summary of the evaluation report. Further amendments may be made to this Summary, pending review by the Evidence Hub partner]

The goal of the Family Finance Project (FFP) was to develop more resilient and financially capable single parent families. We delivered face-to-face and online facilitated training to 134 single parents in South Wales in order to improve their financial capability and financial decision-making. We were successful at engaging workless single parents – two-thirds (56%) of participants were unemployed. The majority (85%) of participants were in receipt of benefits, most commonly income support and job seekers allowance. The majority of participants were female (92%), and aged between 26 and 35 years old (45%). Two thirds (62%) had a qualification of level 2 or above. Almost half of participants have one child (49%).

The study

Our evaluation included both process and impact approaches. All participants completed surveys at the start of the training, at the end of the training and six weeks after the training. We also conducted a small number of focus groups. We reviewed key programme management information including participant profile data, attendance, outreach, and participant feedback in relation to the training. We also interviewed key delivery staff and referral partners (where appropriate). Our theory of change is focused on delivering the following intermediate outcomes:

• Single parents feel more confident in managing their financial situation;
• Single parents taking action to improve their financial situation;
• Single parents feel more confident talking to their children about money;
• Single parents know where to access further support

Key findings

Significant positive changes for single parents participating in FFP were reported six weeks after completing the programme:

• Participants felt more confident about managing their financial situation.
• There was a significant increase in participants reporting using more ways to keeping track of their spending - 73 per cent of participants reported more ways of keeping track of spending six weeks after completing the training.
• There was a significant increase in participants reporting they were able to keep to a budget, with 40 per cent reporting a higher frequency of keeping to a budget six weeks after completing the training.
• There was also a significant decrease in the frequency of missed or delayed bill payments.
• Many participants took action to improve their financial situation after completing FFP. Key changes included a significant increase in the number of ways in which participants reported putting money aside, with 36 per cent reporting using more ways of saving six weeks after training.
• There was also a significant increase in participants’ reported confidence in talking to their children about money, with 38 per cent of participants reporting feeling more confident six weeks after training.
• Many participants also reported that they understand where to access further support after participating in the training.
• Six weeks after the training, single parents reported feeling significantly more confident in talking to financial advisers.

Points to consider

• Methodological limitations:
  • The evaluation relied heavily on pre, post, and follow up quantitative surveys.
  • The evaluation did not include a structured qualitative component to help understand why changes in outcomes had occurred.
  • The sample of participants – 30 participants completing face-to-face training compared with 104 completing online facilitated training – did not allow a full comparison of the difference in outcomes related to the training approach.

Full report

Family Finance Project (FFP) - full report