Outcomes frameworks and question banks
The Money Advice Service has developed a suite of outcomes frameworks and question banks to help organisations measure changes in people's financial capability.
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 capability.
The outcomes frameworks and question banks for Adults and Children and Young People are based on a model developed in 2014 as part of the Financial Capability Strategy, 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.
For interventions targeting adults aged 18 and above. There is a separate Outcomes Framework for Older People in Retirement and we are developing further indicators for young adults as required.
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.
For interventions seeking to enhance teachers’ skills, knowledge and understanding to drive the effectiveness of financial education.
For interventions targeting retired adults and those approaching later life.
We will be adding more frameworks to our family during 2017: for Youth Practice and Young Adults. Watch this space!