Financial Capability Outcome Frameworks

Published26th September 2014

This report contains two financial capability outcomes frameworks: one for adults, and one for children and young people. These frameworks, developed by the Money Advice Service and NPC, are based on the financial capability framework that has been developed as part of the Financial Capability Strategy for the UK. They were developed based on an extensive literature review, including academic papers, research reports and evaluation reports, and consultation with a significant number of sector experts and practitioners. The Money Advice Service issued a call for evidence in the summer of 2013, which brought a broad array of submissions from organisations working in the field of financial capacity. Experts in the field also inputted into the design of the frameworks through three workshops, and the draft frameworks were refined through five expert interviews.

In developing the frameworks, NPC drew on key success factors identified in the Blueprint for shared measurement, which explores how to develop, design and implement successful shared measurement approaches based on an analysis of previous initiatives. We also used NPC‰Ûªs experience of developing shared measurement approaches in other sectors, including the Journey to Employment (JET) framework for youth employability and NPC‰Ûªs well-being measure for young people.

This report helps people understand what is involved in improving people‰Ûªs financial capability, and how that impacts on financial behaviour and as a consequence has the potential to improves financial well-being. It discusses the evidence base behind the outcomes, describes indicators for each outcome, and synthesises the evidence that links common types of financial capability interventions to these outcomes.


Chapter one introduces the financial capability model (including definitions of financial capability, financial behaviour and financial well-being) used in this report and in the Financial Capability Strategy.

Chapter two details the outcomes included in the adult financial capability framework and the evidence base for these outcomes.

Chapter three details the outcomes included in the children and young people financial capability framework and the evidence base for these outcomes.

Chapter four discusses vulnerable groups and how their financial capability is affected.

Chapter five looks at the main types of interventions in the financial capability sector, and the state of the current evidence base showing whether they work in raising financial capability.

Chapter six discusses how to use the frameworks and outlines next steps in their development

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