The University of Wisconsin‘s Financial Literacy Research Consortium (UW-FLRC) and Jennifer Turnham from Abt Associates, Inc., conducted 18 focus groups with mostly low-income individuals to explore how community-based organizations might encourage better financial practices, including higher savings rates, among low-income and vulnerable populations. The focus groups gathered information on savings motives, practices, and attitudes as well as opinions about the timing, content, and form of financial education efforts. Findings suggest that educating low-income and vulnerable populations about financial concepts is important. However, efforts focused on behavioral changes, particularly strengthening discipline around savings and spending, may be more effective for promoting long-term financial well-being.

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