The Impact of Covid-19 on Financial Capability and Asset Building Services: Exploring Equity, Accessibility, and the Future of Service Delivery

A study was conducted by Asset Funders Network (AFN) and the University of Wisconsin-Madison Center for Financial Security (CFS) to better understand the transition to remote services among financial capability and asset building (FCAB) programs, which includes financial education, counseling, coaching, emergency assistance, benefits navigation, housing supports, workforce development, and other related services. A full report, six regional briefs, and a webinar are available. Visit the AFN website and project landing page for all materials and regional briefs.

Download Report

View Webinar

Featured moneyfitcfs

University of Wisconsin-Madison’s Center for Financial Security Awarded $3.1 Million for Research to Help Economically Vulnerable Families

The U.S. Social Security Administration is funding 15 major research projects investigating retirement and disability topics surrounding racial wealth, children and families, and the economic security of older adults.

The University of Wisconsin-Madison’s Center for Financial Security (CFS), as part of the Retirement and Disability Research Consortium (RDRC), has been awarded a fifth year of funding for $3.11 million from the U.S. Social Security Administration (SSA).

One of just four such centers in the country supported by the SSA, the UW-Madison’s CFS focuses on the financial well-being of economically vulnerable families, households of color, older adults, people with disabilities, low-wealth households, and children.

October 2022October 2022 moneyfitcfs

Financial Coaching Outcomes White Paper

View an in-depth white paper that highlights how empathy-focused online and phone-based financial coaching program helps under-served participants increase credit knowledge, improve savings, reduce debt, and enhance financial confidence. Prepared by the Center for Financial Security.

Download White Paper

September 2020October 2020 moneyfitcfs

Newly Released Paper and Brief: Does State-mandated Financial Education Affect Financial Well-being?

This paper and brief, authored by Jeremy Burke, J. Michael Collins, and Carly Urban, estimates the causal effect of required high school ﬁnancial education on the ﬁnancial well-being of young adults. Financial well-being includes people’s subjective sense of ﬁnancial management, as well as their conﬁdence in achieving their unique ﬁnancial goals. This study shows that ﬁnancial education improves ﬁnancial well-being, though beneﬁts accrue primarily to men and those who obtain college degrees.

This paper and brief, authored by Jeremy Burke, J. Michael Collins, and Carly Urban, estimates the causal effect of required high school ﬁnancial education on the ﬁnancial well-being of young adults. Financial well-being includes people’s subjective sense of ﬁnancial management, as well as their conﬁdence in achieving their unique ﬁnancial goals. This study shows that ﬁnancial education improves ﬁnancial well-being, though beneﬁts accrue primarily to men and those who obtain college degrees. The research was supported by a grant from the FINRA Investor Education Foundation.

Download Paper

Download Brief