evaluation
Evidence type: Evaluation i
Information about the programme design and rationale
Evidence about Financial Capability outcomes for programme participants
Evidence that the Financial Capability outcomes were caused by the programme
Evidence about programme implementation, feasibility, and piloting
Evidence about relative costs and benefits of the programme
The Wesley Mission ‘In charge of my money’ programme has been delivered to over 4,000 people since its inception in August 2011. It aims to improve the financial literacy of vulnerable groups with problems including addiction, homelessness, unemployment, domestic violence, low income and health issues.
The programme provides practical information on managing money. It aims to provide participants with relevant skills to manage their money and make effective financial decisions and it encourages them to apply to what they learn to everyday life.
There are three modules in the programme:
Qualified professionals, such as financial counsellors, deliver the programme. It can be delivered over one day but is most commonly delivered in three weekly sessions of three hours each. For the purpose of this evaluation, to allow time for questionnaire completion, programme delivery took place over four weekly instalments. Participants are encouraged to access financial counselling and support.
Macquarie University conducted an independent evaluation of the programme, which was published in 2016. It collected both quantitative and qualitative data through a pre- and post- survey of participants: 128 participants completed the pre- questionnaire, and 63 of these completed the post- questionnaire. However, after some participants were excluded from analysis, the final sample size of the post- questionnaire was 54. Text messages affirming positive money behaviours were sent to half of the participants every 3-4 weeks to test if reminders/nudges had an impact on participants’ financial behaviours.
Change in financial behaviours:
Change in reaching financial goals:
Change in financial strain:
Methodological limitations:
Generalisability/transferability:
The study relates to vulnerable populations and findings would not be generalisable to the population as a whole.
Applicability:
The evaluation suggests that the programme itself and the approach are capable of wider application among vulnerable populations.
Evaluating the Wesley Mission: In charge of my money - full report
Evaluating the Wesley Mission: In charge of my money - full report
Zanoni, L., Warburton, W., Russell, R., Warburton, M., & Flynn, L, Macquarie University