Financial turmoil has been the lead reason to economical issues in the U.S. In attempt to reduce financial turmoil financial literacy programs have been implemented. Financial literacy programs such as the Family Stabilization Program (FSP) have an effect on family well-being across many dimensions in addition to financial stability. The purpose of this study was to measure and describe the influence of the FSP program on families in order
to provide a holistic, evaluation of a comprehensive program. Researchers use a combination of methods including convenience sample surveys and structured focus group interviews to collect data on emotional and social well being as well as change in indicators of financial well-being.
This study was designed to reevaluate the Family Stabilization Plan (FSP), that is administered by a local twin cities nonprofit organization entitled Build Wealth Minnesota. In order to do so, three aspects of financial literacy programs were explored including: the impact of FSP on individual program participants, their families and the communities they live in; how FSP program participants and staff perceive financial literacy programs and; identify areas of improvement for the FSP.
Conducted on behalf of Build Wealth Minnesota. Supported by the Kris Nelson Community-Based Research Program, a program of the Center for Urban and Regional Affairs (CURA) at the University of Minnesota.
The Various Impacts & Returns of Comprehensive Value-Based Financial Literacy Programming: Re-Evaluation of the Family Stabilization Plan.
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