Organizations interested in evaluating their financial literacy programming are invited to access the Financial Literacy Outcome Evaluation Tool. The free tool provides a way for interested organizations to develop their own tailored evaluation plans.
The English tool can be found at: www.outcomeeval.org.
The French tool can be found at: www.outildevaluation.org.
The free tool benefits private, public and community-based organizations seeking to improve their financial literacy programming by:
- providing a common set of evaluation metrics that can be used for any financial literacy initiative in Canada
- making evaluation of financial literacy initiatives easier, more rigorous, and more likely
- focusing funders and delivery organizations on shared, evidence-based outcomes and indicators
- making it possible to compare the effectiveness of diverse financial literacy interventions to identify what works best and for whom
- leveraging existing research evidence to strengthen current and future programs
- laying a foundation for the future online collection and comparison of national outcomes data
Funded by the Canadian Bankers Association on behalf of banks in Canada, the tool was created through a collaboration with Prosper Canada, a national charity dedicated to expanding economic opportunity for Canadians living in poverty through program and policy innovation, and the Financial Consumer Agency of Canada (FCAC).