Publication Date
6-9-2020
Publisher
Social Policy Institute at Washington University in St. Louis
Summary
Although financial counseling has been studied in community-based settings, programs offered in the workplace are understudied and yet may aid low- to moderate income employees in improving their financial situations. This study examines workers’ engagement in and associated credit outcomes from an employer-based financial counseling program in the New York City area. Findings suggest that participants engaged equally in services except for older and non-English speaking workers, who had lower levels of digital engagement. In-person engagement in services was minimal. Credit score improvements were modest, but greater for workers who had
scores in the lowest quartile at baseline. These credit score increases may be due to the reduction of delinquent accounts for workers with the lowest baseline scores.
Document Type
Working Paper
DOI:
https://doi.org/10.7936/h870-av72
Project
Workforce Financial Stability Initiative (WFSI)
Recommended Citation
Despard, Mathieu; Zeng, Yingying; Fox-Dichter, Sophia; Frank-Miller, Ellen; and Grinstein-Weiss, Michal, "Financial counseling for front-line workers: A pilot study of engagement and outcomes" (2020). Social Policy Institute Research. 29.
https://openscholarship.wustl.edu/spi_research/29
Included in
Economic Policy Commons, Education Policy Commons, Health Policy Commons, Public Policy Commons