The Center for Financial Security and the Asset Funders Network (AFN) collaborated on a case-study investigation of employer-based financial coaching programs in the latest research: Supporting Employee Financial Stability: How Philanthropy Catalyzes Workplace Financial Coaching Programs. This brief shares innovative approaches employers believe increase recruitment and retention while impacting employee financial well-being.
The practice of financial coaching has emerged as a rapidly growing field as an increasing number of organizations integrate the coaching approach into their efforts to help people realize their financial goals. The 2019 Census will be the third Census survey conducted by the Center for Financial Security and the Asset Funders Network. The Census provides information on the size and scope of financial coaching efforts across the U.S., along with challenges and opportunities for the field. This third round of the Financial Coaching Census will document important trends and will allow for a comparison of results from the last two rounds and see changes and growth that have occurred. Participate today!
The Center for Financial Security held a webinar on September 11, 2018, which explored survey data from social worker faculty and students. Researchers from the Center for Social Development at Washington University in St. Louis discussed the role of social service professionals in creating more inclusive models of financial capability service delivery.
The Alliance for the American Dream is a new community-university collaboration funded by Schmidt Futures that aims to promote shared prosperity and increase American competitiveness. The University of Wisconsin–Madison (UW) is one of four public universities chosen by Schmidt Futures to partner in this work.
Articles include:
Date: September 25-26, 2018
Where: Pyle Center, 702 Langdon St., Madison, WI, 53706
Cost: $245
Description: University of Wisconsin trainers will provide a 2-day workshop on skills and strategies for financial coaches. This workshop is designed as an introduction to financial coaching and can also be used as a refresher to practice and advance coaching skills.
The Center for Financial Security held a webinar on April 24, 2018, which explored findings from a field study examining the effects of access to financial services on elementary students’ financial learning. The field study describes two school-based savings programs targeted to elementary-age students. Using differential access to school branches, as well as randomized seed deposits for opening an account, researchers were able to estimate the effects of students having savings accounts on changes in financial knowledge and behavior.
Four La Follette School faculty members have received funding from the Herb Kohl Public Service Research Competition’s third round of awards. The Kohl Competition supports nonpartisan research that informs critical public policy and governance debates and advances evidence-based decision-making.
Date: May 16 & 17, 2018
Where: Human Services Conference Room #130, 111 W. Jackson Street, Wisconsin Rapids, WI 54495
Cost: $245
Description: University of Wisconsin trainers will provide a 2-day workshop on skills and strategies for financial coaches. This workshop is designed as an introduction to financial coaching and can also be used as a refresher to practice and advance coaching skills.
A|4 Financial Coaching Foundations Workshop, May 16 & 17, 2018
The Center for Financial Security produced a webinar on March 14, 2018 exploring the findings from a study examining the increasing rate of mortgages among elderly households and reasons for this rise. Following the research presentation, discussants from the AARP Foundation and Elder Financial Safety Center with The Senior Source offered insights into how these findings may impact programmatic efforts to serve older Americans and current initiatives that are in place to address this growing mortgage trend.
J. Michael Collins, Faculty Director of the Center for Financial Security and Associate Professor in Consumer Science, was awarded the H.I. Romnes Faculty Fellowships Award. This program, funded by WARF in recognition of the leadership of the late WARF Trustee President H. I. Romnes, is designed to bridge the gap between the Research Committee’s initial research support for new faculty and the Mid-Career Award for Faculty Research. Dr. Collins research on consumer behavior insights focus primarily on the role of information in consumer decision making, especially for low-income and vulnerable households. Dr. Collins serves UW Cooperative Extension as a state specialist in family economics and household finance.
Read more about the award here.
Governor Scott Walker announced recipients of the 2017 Governor’s Financial Literacy Award, as selected by the Governor’s Council on Financial Literacy. Eighteen individuals, businesses, and organizations were chosen as recipients for the award. The UW-Extension Family Living Program’s Check Your Free Credit Report Campaign was announced as one of the recipients of the award. Since 2013, the Family Living Program has conducted a “Check Your Free Credit Report Campaign,” which seeks to increase Wisconsin residents’ access to, and understanding of, their credit histories. Residents can sign up for e-mail reminders every four months (2/2, 6/6, and 10/10) to check their credit scores with one of the three major credit reporting bureaus. Since 2013, 940 Wisconsin residents have signed up for the reminder e-mails – 181 of them in 2017 alone.
2017 was a busy and successful year for the Center for Financial Security. Download a summary of our outreach work, research projects, notable events, and accomplishments from throughout the year. We look forward to future collaborations in 2018!
Date: March 21 & 22, 2018
Where: United Way of Greater Milwaukee & Waukesha County
225 W Vine St
Milwaukee, WI 53212
Cost: $245
Description: University of Wisconsin trainers will provide a 2-day workshop on skills and strategies for financial coaches. This workshop is designed as an introduction to financial coaching and can also be used as a refresher to practice and advance coaching skills.
A|4 Financial Coaching Foundations Workshop, March 21 & 22, 2018
Cliff Robb, Associate Professor of Consumer Science and Faculty Director of Consumer Finance and Financial Planning, published a paper in the Journal of Family and Economic Issues, based on an analysis of college students’ subjective well-being and persistence behavior conducted with an emphasis on financial stress and individuals’ perceptions of financial situation. The full paper is now available.
The Center for Financial Security hosted a webinar on October 10, 2017 to highlight background, methodology, and findings from the International Rescue Committee’s recent study on financial capability for refugees, Financial Capability for New Americans: Lessons from Early Interventions with Refugees. Expert discussants provided information on current refugee resettlement processes and insights into financial capability challenges faced by refugees making their home in the United States.
Center for Financial Security Faculty Director, J. Michael Collins, was awarded the inaugural Ketchum Prize from the FINRA Foundation. The announcement took place at the Foundation’s Board of Directors triannual board meeting in Washington, D.C. The Foundation’s prize is named for Richard “Rick” Ketchum, who retired as Chairman and Chief Executive Officer of the Financial Industry Regulatory Authority (FINRA) and Chairman of the FINRA Foundation in 2016. Ketchum is admired for his distinguished leadership in the field of securities regulation over a career spanning three decades. Dr. Collins is being honored for his extensive work in improving family financial security through innovative and thoughtful approaches.
Following news of the recent Equifax data breach many consumers are fearful of how this could cause personal credit issues and possibly identify theft. Peggy Olive, Senior Financial Capability Specialist with UW-Extension and the Center for Financial Security, provides information and resources on how to monitor your credit report and take steps to remediate credit issues if they occur.
On June 28, 2017, the Center for Financial Security held a webinar presenting new research into the relationship between financial management behaviors and households’ ability to pay for out-of-pocket medical expenses. The webinar introduced the “FINMed” financial coaching intervention designed to help families pay for ongoing health care needs.
Assistant Professor
La Follette School of Public Affairs
University of Wisconsin-Madison
lpjacobs@lafollette.wisc.edu
Areas of Research Interest: retirement preparedness and modeling the interactions among health, job tasks, and labor supply decisions
Assistant Professor
Queen’s University
Areas of Research Interest: empirical industrial organization, structuralmicroeconometrics, college admissions, human capital investment, and racial socioeconomicinequality
Professor of Human Development & Family Studies
University of Wisconsin-Madison
Areas of Research Interest: The experiences of individuals and families as they cope with transitions and periods of stress during middle and later life; Hispanic families caring for older relatives, and how cultural marginality, conflict, and religiosity affect the well-being of family caregivers
Assistant Professor of Public Affairs
University of Wisconsin-Madison
Areas of Research Interest: Health Economics, Applied Microeconomics
Product Training Manager for Wealth Management