Financial Well-Being
Programs and policies that help people get good jobs, build savings, and access homeownership improve their financial wellbeing. Such policies also align with current federal efforts to improve affordability and strengthen household balance sheets. Abt helps federal, state, and local partners use data and practical implementation support to improve how financial education and coaching perform in the real world. We design and evaluate programs, strengthen delivery systems, and develop tools that help agencies and providers measure outcomes, reduce administrative burden, and focus resources where they have the greatest impact. Our work spans the full continuum of financial well-being services, from young people seeking budgetary and savings guidance to older adults navigating retirement on fixed incomes. We advance evidence-informed strategies that are scalable, practical to implement, and designed for long-term sustainability.
Expertise
- Program evaluation design
- Survey and data collection
- Financial coaching models
- Housing counseling research
- Implementation technical assistance
- Performance measurement systems
Clients Include
U.S. Department of Housing and Urban Development (HUD)
Consumer Financial Protection Bureau (CFPB)
Fannie Mae
FDIC
JP Morgan Chase Foundation
Robert Wood Johnson Foundation
Arnold Ventures
National Urban League
National Fair Housing Alliance
The Annie E. Casey Foundation
Our Work
Evaluation and digital resources for HUD’s Family Self-Sufficiency Program, a promising asset-building program for subsidized housing residents
Compass Working Capital’s innovative approach to HUD’s FSS program relies on participant-driven financial coaching. Abt has conducted a series of independent evaluations to better understand the impacts of Compass’ FSS model. Abt found the program helps participants increase earnings and improve credit in a cost-effective manner.
Evaluation of 6,000 study participants across 28 metropolitan areas on how first-time homebuyer education improves their financial health
Fannie Mae wanted insight into low-income first-time homebuyers’ mortgage experiences. Abt conducted a video ethnography of prospective homebuyers over nine months. We learned that homebuyers need different kinds of mortgage shopping support.
A snapshot of the financial health of U.S. adults was needed. Data was collected from more than 6,000 consumers nationwide. The survey dataset is publicly available to encourage more research.
Evaluation partner for two JPMorgan Chase grant competitions to assess outcomes and impacts of economic inequality solutions in neighborhoods and cities
Our Experts
Insights
Understanding the Pathways to Financial Well-Being
The National Financial Well-Being Survey Report is the second report in a series from the Understanding the Pathways to Financial Well-Being project. In order to measure and study the factors that support consumer financial well-being, in 2015, the Bureau of Consumer Financial Protection (the Bureau) contracted with Abt Global to field a large, national survey to collect information on the financial well-being of U.S. adults. The present report uses data collected from that survey to answer a series of questions on the relationship among financial well-being and four key factors: objective financial situation, financial behavior, financial skill, and financial knowledge. In this study, we aim to enhance understanding of financial well-being and the factors that may support it by exploring these relationships.Key Findings Include:An individual’s objective financial situation, as measured by key indicators such as financial resources or ability to make ends meet, is strongly correlated with his/her own perceived financial well-being.Financial behavior is associated with financial well-being indirectly through its relation with objective financial situation.Financial skill—that is, the ability to find, process, and use financial knowledge—appears to be more closely related to financial behavior than having factual financial knowledge.
Estimated impacts and net benefits of Family Self Sufficiency programs administered by Compass Working Capital in partnership with local housing agencies (2021)
Quasi-experimental evaluations of Compass FSS programs show sustained positive impacts for participants and cost-effectiveness for the program.
Policy Briefs on HUD’s Family Self-Sufficiency (FSS) program
These briefs explore the policy implications of Abt’s evaluations of Compass Working Capital’s financial capability model of the Family Self-Sufficiency program.
Administering an Effective Family Self-Sufficiency Program: A Guidebook Based on Evidence and Promising Practices
The Family Self-Sufficiency (FSS) Program is a critical component of the U.S. Department of Housing and Urban Development (HUD) overall efforts to help Housing Choice Voucher holders and residents of public housing and HUD-assisted multifamily housing to make progress toward economic security. This guidebook – Administering an Effective Family Self-Sufficiency Program: A Guidebook Based on Evidence and Promising Practices – provides practical hands-on guidance on how to run an effective FSS program.The following are two additional learning products related to HUD’s Family Self-Sufficiency program:Family Self-Sufficiency Program Guidebook for Owners of Project-Based Section 8 DevelopmentsFamily Self-Sufficiency Training
The Impacts of a Financial Capability-Based FSS Program (Research Brief PDF)
Long-Term Impact Report: HUD First-Time Homebuyer Education and Counseling Demonstration
The final report on Abt’s evaluation of HUD’s First-Time Homebuyer Education and Counseling Demonstration found benefits for women and younger buyers.
HUD Exchange: Asset-Building and Financial Capability (FSS Training Module)
Family Self-Sufficiency Program Delivers Success
For more than 25 years, the Family Self-Sufficiency program (FSS) has helped subsidized housing residents make progress toward economic security. The Department of Housing and Urban Development, which runs FSS, wanted to document some successes.