LISC Financial Stability Resources
Financial coaching helps clients do a better job in how they handle their money. The goal is for a family to examine their savings and spending habits to see if they can make positive changes that improve their credit scores and stabilize and grow their assets.
This two-page factsheet from the Center for Financial Security at the University of Wisconsin-Madison gives the big picture on financial coaching, with a focus on its “A|4 Model,” which structures the process with alliance, agenda, awareness and action. PDF
Used as a training manual by CNM and other providers, this book covers some of the concepts, strategies, and tools of the "co-active" approach to coaching. (The book focuses on coaching generally, not specifically on either financial or career coaching for low-income individuals.) Amazon
Published by the Asset Funders Network, this 14-page report explains how the technique arose from research in positive psychology and compares the approach to financial counseling, education, and planning or consulting. It also explores different models for coaching and how funders can support financial coaching. PDF
This paper compares the outcomes of Twin Accounts borrowers with other, statistically-matched, clients of LISC-supported Financial Opportunity Centers who did not open such accounts to find out whether their scores, in fact, improved. PDF
"This report, with generous support from Capital One, draws on data results from a two-city pilot to better understand how Financial Empowerment Center (FEC) clients are saving and ultimately inform new savings indicators for financial counseling success." PDF
Social service organizations can use the toolkit from the website of the federal Consumer Financial Protection Bureau to help clients set goals, choose financial products, and build skills in managing money, credit, and debt. The page includes an English and Spanish PDF for the 278-page guide, which has 14 different modules ranging from starting the conversation to evaluating financial services providers. It also has links to materials and videos to help train case managers to use the program. Website
The Center for Financial Security (CFS) and Annie E. Casey Foundation have developed a short set of standardized client outcome measures to create the Financial Capability Scale (FCS). This site was discussed in the presentation for the December 9, 2016 webinar "Salesforce System Overview and Functionality." Website
This guide describes the research behind the Financial Well-Being Scale, developed by federal Consumer Financial Protection Bureau, and provides detailed steps for using it, including how to score individuals’ responses and compare their scores. This site was discussed in the presentation for the December 9, 2016 webinar "Salesforce System Overview and Functionality." Website
Clear, simple videos, lists and graphics explain different aspects of 20 personal financial issues in this website that can be used by clients, created by Bank of America and Khan Academy. Website
This site has information about the Association for Financial Counseling & Planning Education six certification programs, from financial fitness coach to accredited personal finance coach, including what the programs offer, online and onsite training dates, fees and other details. Website
This page of the federal Consumer Financial Protection Bureau website is a basic guide to how to shop for and manage a checking account. Written for the consumer, it gives advice on different account options and how to respond if you’ve been denied an account, including PDF downloads for easy-to-use guides and links for more information. Website
This simple one-page flow chart shows a client the basics of a budget (how a variety of income minus expenses becomes net income) and balance sheet (how a mix of assets minus liabilities becomes net worth). PDF
