Financial education programs for the poor are relatively new in developing and transition countries. While still few in number, innovative efforts are under way to help microfinance clients and other poor people improve management of their assets by building knowledge of key financial concepts and developing skills to make informed financial decisions.
Microfinance Opportunities (MO) and Freedom from Hunger have initiated several of these financial education programs with seven partner organizations. They aim to improve knowledge and skills in budgeting, savings, debt management, use of bank services, and financial negotiations. Citigroup Foundation has supported these efforts through the Financial Education for the Poor Project.
CONTENTS
1. INTRODUCTION
2. TOWARDS A FRAMEWORK FOR ASSESSING FINANCIAL EDUCATION PROGRAMS
- 2.1. Inputs
2.2. Outcomes
2.3. Impacts
3. A FOCUS ON OUTCOMES
- 3.1. Indicators of Financial Literacy
- 3.1.1. Knowledge, Skills and Attitudes
3.1.2. Financial Behaviors
3.1.3. Financial Outcomes
3.2. Other Background Information on Participants
- 3.2.1. Client Characteristics
3.2.2. Exposure to Financial Education
3.3. Assessing the Quality of Training and Facilitation Activities
3.4. Institutional Performance Indicators
4. OTHER EVALUATION ISSUES
- 4.1. Evaluation Approaches
- 4.1.1. Progress Tracking System
4.1.2. “One-Time” Outcomes Assessments
4.1.3. Impact Assessments
4.2. Design of Indicators
4.3. Timing of Assessment Activities
4.4. How Much Will It Cost?
4.5. Dissemination of the Results
5. SUMMARY AND CONCLUSION
Annexes
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