Money Matters project report

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]

Age Scotland’s Money Matters project aimed to support older people in retirement to plan for the future. Money Matters workshops were delivered to existing groups of older people, where they normally meet, on a choice of subjects: benefit entitlements, care costs, Power of Attorney, wills and funerals, and managing change. Roadshows were delivered throughout Scotland. Attendees were provided with written information, and also had the opportunity to call the free Age Scotland helpline 0800 12 44 222 for individual advice.

The study

The evaluation involved pre-and post-event paper-based participant questionnaires with follow up calls 6 weeks after events. Evaluation was carried out from June 2017 until February 2018. The project involved 1,135 participants of whom 651 participated in the evaluation. The overall outcome being measured was that

“older people post-retirement plan ahead for future events, granting Power of Attorney, planning for care and funeral costs and using appropriate options and services.”

In addition, professionals working with older people were asked what older people were saying to them about money matters; what would equip them to respond more effectively and what they saw as the barriers to older people seeking advice.

Key findings

• The roadshows have been effective in increasing knowledge and understanding among attendees of benefit entitlements, care costs and funding, Power of Attorney, wills and funeral costs and planning for change.
• The older adults who attended the roadshows already had peace of mind over their finances but became more knowledgeable about where to access information and advice. The older adults also became more likely to access information and advice following the roadshows. The greatest improvement in knowledge and awareness was measured in attendees at the care costs and funding roadshows.
• Only a small proportion of respondents went on to make practical changes in their lives, often because they were financially comfortable and felt that the advice was not relevant to them at that point. However, a high proportion of respondents read the material provided at the roadshow and talked to other people in their lives about what they had learned.

Points to consider

• Methodological limitations: The response rate to the survey is limited due to:
  • The style of roadshow delivery: as delivery was usually in a restricted time-slot there was not always time for the people attending to fully complete evaluation.
  • The timescale for project delivery: some attendees did not, at the time of the roadshow, need the information provided but may act on this at a later date
  • Nature of the target group: some attendees faced practical difficulties in completing evaluation forms at roadshow events due to sensory or cognitive impairment or frailty.
  • The use of follow up forms: we initially offered attendees a choice of postal forms or phone calls for follow-up contact but changed to offering telephone contact after a very low return rate for postal questionnaires.
  • Attendees being very cautious about supplying their data for follow-up despite the assurances of the Money Rights Officers about the use of data purely for evaluation.
• Generalisability/ transferability:
  • These findings may be generalisable to older people in Scotland and elsewhere in the UK if the elements necessary for delivery of the project are replicated (see section 8 of report), but as we did not reach many older people in the “struggling” segmentation we cannot say whether the results would be the same across different segmentations.
• Relevance:
  • We have found that older people can learn from a one-off intervention focused on planning for a life event, some will take relevant action and they will also share what they learn with their friends and families.

Full report

Money Matters project report - full report