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

Outcomes frameworks and question banks to help organisations measure changes in people’s financial wellbeing.

Outcomes frameworks and question banks

The Money and Pensions Service has developed a suite of outcomes frameworks and question banks to help organisations measure changes in people’s financial wellbeing.

Each outcomes framework is summarised on the pages below, and is accompanied by a detailed question bank that can be downloaded from the same page. The question bank contains all the outcomes from each framework, with indicators and questions that you can use in surveys to measure changes in people’s financial wellbeing, behaviour and capability.

1. Adults

For interventions targeting adults aged 18 and above. There are separate outcomes frameworks for People in Retirement and Young Adults.

2. Children, young people and parents

For interventions targeting Children and Young People aged 3-18 with sets of indicators for different age groups, and for interventions that seek to enhance parents’ capacity to support and develop their children’s financial capability.

3. Teachers

For interventions seeking to enhance teachers’ skills, knowledge and understanding to drive the effectiveness of financial education.

4. People in retirement

For interventions targeting retired adults and those approaching later life.

5. Youth practice

For organisations and individual members of staff or volunteers working to improve young people’s financial wellbeing, whether as a main or partial focus of their work.

6. Young adults

For organisations and individual members of staff or volunteers working to improve young people’s financial wellbeing, whether as a main or partial focus of their work.

How we developed the outcomes frameworks

The outcomes frameworks and question banks for Adults and Children and Young People are based on a model developed by the Money Advice Service in 2014, as part of the then Financial Capability Strategy for the UK, which involved an extensive review of academic papers, research reports, evaluation reports, and consultation with sector experts and practitioners.

In 2017 we upgraded the frameworks and question banks to incorporate piloting and cognitive testing conducted during 2016, and to reflect the Money Advice Service’s research on the building blocks of financial capability.