FLA encourages financial literacy programs to evaluate their effectiveness and seek improvements. Financial literacy is a relatively new field, and we are often learning through trial and error. Program managers want to know “How much impact are we having?” and “How could we have more impact?” FLA wants this information to be shared across the sector.
‘How to’ guides
The OECD International Network of Financial Educators has several useful publications:
- High Level Principles for the Evaluation of Financial Education (8 pages)
- Detailed Practical Guide to Evaluation (17 pages – a great introduction)
A fantastic “how to” guide (not specific to financial literacy) is:
FLA, in conjunction with RMIT, has produced a survey template that you can use (or adapt) for your evaluation. There is also a Guide to explain how to use it:
FLA has set out expectations for the evaluation of the projects it funds.
The US National Endowment for Financial Education has a detailed “how to” toolkit, including templates for evaluating financial education programs:
Contact the FLA General Manager -Grants for more information about evaluation.
FLA has supported 20 projects that include a significant evaluation. Browse the list of FLA’s completed and in-progress evaluations.
A list of all financial literacy evaluation reports in Australia (72 reports to date) is here.
ASIC also has links to a wide variety of evaluations of Australian financial literacy programs:
The Australasian Evaluation Society website has helpful resources:
- The Consultants Directory is helpful if you are looking for an evaluator (FLA can also suggest potential evaluators)