Evaluation Scotland Wales
The UK Strategy for Financial Wellbeing is taking forward the work of the Financial Capability Strategy Opens in a new window

For interventions targeting adults aged 18 and above

Adults outcomes framework

The adult outcomes framework describes the key elements of financial capability for people from 18 years old through to later life. We have also published a framework of outcomes that are solely, or particularly, relevant to people in retirement which you may choose to use if you are working primarily with older people. The schematic below summarises the outcomes in the adults framework and the associated question bank, with indicators and survey questions, is available to download on the right-hand side of this page.

Recent improvements

We’ve recently made some improvements to the Framework and Question Bank, including:

  • Restructuring: We’ve updated the Adult Outcomes Framework in line with the Money and Pensions Service’s analysis of the ‘Building Blocks’ of financial capability, based on the 2018 Adult Financial Capability Survey. Click here to find out more about the Building Blocks.
  • Cognitive testing: When we originally developed the framework, many of the questions were adapted from existing, tested surveys, but some were brand new. We wanted to make sure that these new questions were of a consistent standard and that they’d be easily and correctly understood by the people answering them in the real world. To do this we commissioned an independent research agency to test these questions for us and ensure any necessary adjustments were made. Through this testing, we can now be confident in the quality of all the questions in the Question Bank associated with this Outcomes Framework.

Other supporting frameworks and tools

There are alternative tools and frameworks that you can use to measure financial capability outcomes. These might be better suited to the way you deliver your project or your beneficiaries. If you choose to use these tools, be aware that you will be less able to make comparisons with Money Advice Service’s Financial Capability Survey data as well as other evaluations which use our framework. Of course, we’d be happy to discuss your choice with you. Contact us with any questions.

Citizens Advice Financial Capability Outcomes Measurement Tool

Following years of testing different measurement models, in 2015 Citizens Advice gained funding from Prudential to develop a set of draft financial capability outcomes, measures and tools. The measures and tools are now available and were developed in close consultation with a range of external and internal experts, including the Money Advice Service, to ensure they are robust, appropriate and align with the Financial Capability Outcomes Framework available within this toolkit.

Find out more about the Citizens Advice tool.

Toynbee Hall’s MAP Tool

The MAP Tool allows organisations to assess the financial health of their clients, to ensure that they get the most effective help, and track their progress throughout an intervention. It is a sophisticated online survey system that allows organisations to survey beneficiaries at intervals in a project, drawing on a bespoke financial wellbeing question bank that has been developed with detailed input from over 300 experts and practitioners from across the financial health and inclusion sector.

Find out more about the MAP Toolopens in new window.