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 Sheffield Financial Capability project formed part of a wider strategy to address financial exclusion across South Yorkshire, and was funded by the Lloyds TSB Foundation (formerly HBOS Foundation). The project ran from 2008- 2011 and was implemented by Financial Inclusion Services (Yorkshire) Ltd (FISY). The funding (£200k over three years) paid for financial capability development workers, (one worker in year one, and two workers in years two and three). The development workers delivered mainly group sessions in community settings, to help people at risk of financial exclusion improve their financial capability (one-to-one support was also available if required). One-off sessions were held on basic money management, and personal finance was covered in more detail over several weeks. All the courses were delivered free of charge at community venues and tailored to the needs of the client group. The project was overseen by a steering group including representatives of Lloyds TSB Foundation, Sheffield Homes, the Debt Support Unit and FISY. The total number of participants is unspecified, but the project exceeded most of its targets, and ran more than 2,683 group sessions.
The Centre for Regional Economic and Social Research (CRESR) at Sheffield Hallam University was contracted by FISY to evaluate the project from January 2010 to May 2011. The evaluation aimed to explore the development and implementation of the project, and the potential transfer of learning to other settings.
Primarily a process evaluation, the study used a mixed-method approach, including:
The report includes some qualitative reflections on participant outcomes.
The study identifies the following key findings:
The project exceeded most of it targets:
However, the project narrowly missed its target concerning the numbers of participants referred for debt and money advice (735 against a target of 800).
The evaluation highlighted difficulties around evidencing tangible outcomes: whilst it was clear participants gained new knowledge and skills, longer term tracking would be required to demonstrate behaviour change.
The evaluation identified several factors leading to the successful delivery of the financial capability sessions:
The evaluation identified learning in response to delivery challenges; particularly concerning the engagement and retention of participants:
The evaluation suggests the project achieved a legacy, as following the project many partner agencies increased the priority they place on financial capability and are using learning resources and materials developed by the project.
Methodological limitations:
Generalisability/ transferability:
Jan Gilbertson and Sarah Pearson, Centre for Regional Economic and Social Research (CRESR), Sheffield Hallam University