The Money Advice Service has published a very positive evaluation report of a financial capability intervention designed by QSA for use with parents.
The project was piloted in Wales during 2016 and 2017.
QSA was commissioned by the Money Advice Service to design the content of the Talk, Learn, Do intervention – a two hour session for parents of children aged 3-11 – in collaboration with practitioners and project partners. The overall aim of Talk, Learn, Do was to help parents teach good money management skills to improve children’s financial capability in the future.
The evaluation finds that ‘Talk, Learn, Do’ was “extremely well received by both practitioners and parents”, and that the programme was effective in meeting its objectives – helping parents to become more confident in engaging with their children about money. The detailed report describes positive impacts over 12 months upon parents’ knowledge of how to talk to their children about money, children’s ability to handle and manage money, and parents’ levels of indebtedness.
"The feedback from the training was overwhelmingly positive, delegates commenting on how simple, interactive and engaging the resources were.
"I feel very proud to have been involved in the first intervention of this kind and that Made of Money has benefitted hundreds of families across Wales.”
Mostofa Uddin, Made of Money
The evaluation chimes with QSA’s longstanding experience that parents are the key educators and shapers of the next generation’s financial capabilities.
The Money Advice Service will use the report’s findings to inform its future commissioning and policy-influencing activity, “including exploring opportunities to build ‘Talk Learn Do’ into wider support for parents and families across the UK”.
For its part QSA is continuing to innovate in its financial capability work and hopes to continue working with The Money Advice Service. Our Get Set pages describe how we have also been working with the Money Advice Service in Islington, London.
The Money Advice Service’s evaluation of Talk, Learn, Do can be found here.