This resource guide is for youth employment programs that are interested in enhancing financial capability1 and building partnerships with financial institutions. It maps out how and why such partnerships can help young people2 achieve greater financial well-being and employment success.
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Agency Owner: Department of the Treasury
Document Type: Guide
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This guide provides information to financial institutions on how they can enhance youth financial capability by partnering with youth employment programs. It maps out how and why financial institutions can engage with these programs and highlights best practices in the Workforce Innovation and Opportunity Act (WIOA) by local communities.
Agency Owner: Department of the Treasury
Document Type: Guide
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Following a rigorous research effort to develop a consumer-driven definition of financial well-being, the CFPB developed and tested a set of questions–a “scale”–to measure financial well-being. The scale is designed to allow practitioners and researchers to accurately and consistently quantify, and therefore observe, something that is not directly observable–the extent to which someone’s financial situation and the financial capability that they have developed provide them with security and freedom of choice. This guide describes the research behind the CFPB Financial Well-Being Scale and provides detailed steps for using it, including how to score individuals’ responses and compare their scores.
Agency Owner: Consumer Financial Protection Bureau
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Document Type: Report
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This Toolkit is designed to provide caseworkers, independent living skills providers, congregate care providers, foster parents, and other supportive adults with strategies and resources to critically evaluate and improve their current approaches to financial capability. It is designed for those working with youth under the age of 18 and young adults over the age of 18 who are preparing to transition out of the foster care system. The Toolkit is a compilation of lessons learned, best practices and practical tools, which can be used together or separately, to help service providers methodically choose and integrate new strategies, programs, or interventions to improve the financial capability of the youth they serve. Additionally, content and tools can be tailored to meet stakeholder needs based on the intended outcomes of their services and the characteristics of the populations they are serving. The tools and resources are intended for a number of different actors in a child-welfare system and can be used in multiple situations.
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With support from the U.S. Department of the Treasury, Corporation for Enterprise Development (CFED), the Center for Financial Security at the University of Wisconsin-Madison (CFS) and the New York City Department
of Consumer Affairs Office of Financial Empowerment (OFE) partnered on a pilot program to test the effect of
pairing of financial access and an average of one to two hours of financial counseling on the financial capability of a population transitioning off of public benefits in New York City.
Agency Owner: Department of the Treasury
Document Type: Brief, Article
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Find out how working after beginning to receive retirement benefits can lead to increases or decreases in benefits.
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Document Type: Report, Article
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Many workers don't realize how important it is to get an early start on saving for retirement. This Department of Labor Employee Benefits Security Administration video provides information for workers about the importance of saving for retirement and how to get started. The video also has links to additional online tools to help workers take full advantage of their employer-sponsored benefits. The video is also available in Spanish.
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Document Type: Website, Video
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This publication helps you manage your money so you can afford today’s needs while funding tomorrow’s goals. This publication shows how saving for retirement can be part of your overall financial plan. Worksheets will help workers at any stage of their career manage their financial life, including identifying short- and long-term goals, calculating net worth, building a budget, tracking debt and determining a target retirement saving rate. Available in English and Spanish. Financial Planning Worksheets are also available in English and Spanish.
Agency Owner: U.S. Department of Labor, Employee Benefits Security Administration (EBSA) and the Internal Revenue Service
Document Type: Website
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Many workers aren't aware of the laws that protect their health benefits. This Department of Labor Employee Benefits Security Administration video provides information for workers about their health care rights. The video also has links to additional information to help workers take full advantage of their employer-sponsored benefits.
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Document Type: Website, Video
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