Managing money better project evaluation

• Description of the programme
• The study
• What are the outcomes?
• Key findings
• Points to consider
• Full report

Description of the programme

FirstStop is one of 15 managing money better projects funded by Comic Relief. It is part of a £2.5m programme which aims to support older people (aged 65+) to build their knowledge and skills to:

• manage their money more effectively;
• ensure access to good, independent financial advice;
• guard against financial scams and abuse; and,
• cope better with cold homes.

The project aims to reach more vulnerable older people, by providing money advice as a key element of the wider housing and care options advice and support service offered by FirstStop. The service is delivered through a combination of channels (website, telephone, peer to peer and through local partners in four areas). The intended outcomes for older people are:

• Improvement in money management skills.
• Increase in income, including through take-up of grants and benefits.
• More energy efficient homes and reduction in fuel poverty.

Partners work in geographical catchment areas and target specific client groups:

• BME elders.
• People with long-term conditions, including disabilities and mental health problems.
• People living in the most unfit accommodation. Those self-funding their care.

The study

Cambridge Centre for Housing and Planning Research (University of Cambridge) undertook this project evaluation as part of an ongoing, independent evaluation of the FirstStop service which began in November 2009.

The evaluation methodology was largely qualitative and included interviews with the national management/delivery team, local partner caseworkers and managers, and 28 clients across the four partner areas. The evaluators also analysed project administrative data and monitoring information, including a client self-assessment survey completed at the point a case was closed.

Data from the interviews and monitoring information was analysed to assess the achievement of outcomes and deliverables at both a national and local level, as well as client satisfaction.

What are the outcomes?

• Financial well-being: Older people have increased income as a result of benefits advice and knowledge about grants, which has led to reduced anxiety and improved quality of life.
• Financial capability (ability): Clients feel more informed, have better understanding of money management, and are aware of how to access advice. Other sector professionals have raised awareness of the advice and support available through the project.
• Other: Older people experience less fuel poverty after receiving advice on energy efficiency (leading to improvements in health and well-being).

Key findings

• Financial well-being: During the first 18 months of the project, clients have been awarded over £580,000 of new benefits and grants.
• Financial capability (ability): Based on questionnaire responses and case worker opinion, 60-70% of clients have improved confidence, better ability and understanding of money management and are aware of independent financial advice available.

Points to consider

• Relevance: The issue of support and advice on financial issues including those related to housing for older people continues to be relevant.
• Generalisability/transferability: The project worked with four local partners each with a different focus and delivery model, resulting in only very general findings being transferable.
• Methodological strengths or limitations: There was limited evidence presented to support the findings. No information was provided on the scale of the programme, so it was unclear as to whether the client sample (n=28) was representative. The response rate of the client self-assessment surveys was lower than expected (although the report did not provide figures), meaning that there is no robust quantitative evidence on client outcomes.

Full report

Managing money better project evaluation - full report