Evidence and evaluation strategy
The success of The Strategy will depend upon insight and evaluation to generate robust evidence about people’s needs and how to address them, which can be used to design, refine and inform financial capability interventions.
The Money Advice Service is committed to promoting and supporting the best use of evidence and evaluation in the financial capability sector, ensuring that:
- resources are directed to people with unmet needs, in particular, those from the ‘Squeezed’ segment
- funding is aimed at interventions which can demonstrate evidence of positive impact; and
- financial capability policies, programmes and interventions are carefully and consistently evaluated.
The diagram below shows how the Money Advice Service aims to influence change by:
- raising awareness about good evidence and evaluation practice through a set of IMPACT principles
- increasing our knowledge about people’s needs through our insight research
- supporting better evaluation with guidance and templates in an Evaluation Toolkit
- growing the evidence base, with support from our Evaluation Team and funding from our What Works Fund
- sharing evidence via an Evidence Hubopens in new window, and supporting organisations to use that evidence to inform their activity.
In 2018, we intend to build on our work to date:
- refining and building our Evaluation Toolkit, and adding more resources such as new outcomes frameworks for older people and youth practice
- continuing to help our IMPACT signatories by providing bespoke evaluation support
- helping the sector to make the best use of our growing evidence base, by facilitating debate and discussion about the knowledge we find.