New research suggests that financial coaching can help low- and middle-income families in a lasting way.
Citi Foundation and NeighborWorks America recently reported the findings of the Financial Capability Demonstration Project, a $5 million, 2.5-year initiative begun in mid-2010.
The initiative significantly expanded the number of financial capability programs and practitioners that provide low- and moderate-income people with financial education, coaching and planning services needed to allow families nationwide to build savings, pay down debt and better manage their finances throughout their lives.
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Michael S. Fischer
Michael S. Fischer is a longtime contributing writer for ThinkAdvisor. He previously reported on trade and intellectual property topics for the Economist Intelligence Unit and covered the hedge fund industry for MARHedge and Reuters News Service.
