MyMoney Resources - MyMoney Five

This report describes the results of focus groups with consumers on credit reports and scores. The report examines issues such as whether consumers were checking their credit scores and reports, how they were doing it, and what motivated them to check it.

CFPB conducted a field scan of financial education programs for immigrant populations. The report raises visibility about the financial education challenges that many immigrants face. This report also shares promising financial education strategies that financial education providers can use to better serve immigrants who seek their services and are part of their communities.

This report, including research from the Department of Defense and the U.S. Military Academy, has explored important financial education topics, including evidence of the impact of financial education on service members’ retirement savings and use of credit.

This guide describes the research behind the CFPB Financial Well-Being Scale – a tool to measure individual financial well-being – and provides detailed steps for using it, including how to score individuals’ responses and compare their scores.

These CFPB toolkits help social service organizations, legal aid providers, and similar groups assist their clients in addressing financial challenges like budgeting, debt, and credit.

This CFPB web page provides parents and caregivers activities and conversation starters to help children develop money skills, habits, and attitudes that can serve them well as adults.

These CFPB online resources and tools show the steps child welfare caseworkers and their agencies can take to help ensure that youth in foster care start their adult lives with healthy credit. Tip sheets explain how to detect identity theft or fraud, and how to resolve inaccuracies in credit reports. The CFPB also provides sample letters for disputing credit report errors on behalf of youth in foster care.

The Young Entrepreneurs course provides online training by the Small Business Administration (SBA) to help young entrepreneurs identify good business options and to give guidance on the first steps toward creating a business.

This report summarizes the findings from the Federal Reserve Board’s 3rd annual Survey of Household Economics and Decisionmaking (SHED), which aims to capture a snapshot of financial and economic well-being of U.S. consumers and identify potential risks to their financial stability. Topics covered include financial well-being, income and savings behaviors, economic preparedness, access to banking and credit, housing decisions, auto lending, education, student loans, and retirement planning.

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.