Monthly Archives October 2015

Does financial coaching help people reach their financial goals?

In a new study, financial coaching participants reduced debt by an average of $10,644. Yesterday’s post introduced financial coaching as an increasingly popular intervention targeted to low- and moderate-income households to help them achieve financial stability. But despite its prevalence, coaching has not been evaluated using the most rigorous approach available. Today, we highlight findings from our study of two financial coaching programs that serve low- and moderate-income populations: Branches in Miami, Florida and The Financial Clinic in New York City. This study involved a randomized control trial (RCT), funded by the Consumer Financial Protection Bureau, and a companion study
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