Evaluation helps you to improve your services and get the best outcomes for your beneficiaries. By evaluating your work you will not only gain a better understanding of how your service works, and what positive changes it brings about for your users, you will also learn how you can deliver your services more effectively and efficiently. For these reasons, evaluation is a key strand of the UK Financial Capability Strategy.
The Money Advice Service has committed to improving evidence and evaluation practice across the financial capability sector. To this end, we have developed an Evaluation Toolkit, which contains guidance, tools and templates to help you to plan and carry out your evaluation. The toolkit is structured around different evaluation stages and will help you to develop a theory of change, design a evaluation approach, measure outcomes, and ensure the findings of your evaluation have an impact – to help you improve your services and to communicate your learning more widely.
You may wish to sign up to our IMPACT principles to demonstrate your commitment to good evaluation practice. They describe at a high level some of the values that underpin good evaluation and are useful to communicate why you are committed to using evidence and evaluation to improve what you do. We also offer a package of free support and advice to organisations who sign up, as well as activities to bring signatories together to share their experiences.