Justification for Change

Justification for Change

OMB #1505-0242

The following materials for the AFCO adult pilot were updated:

1. Cover letters for follow-up survey

The contact information for the Survey Center manager assigned to the project was updated, and the letters were adjusted to reflect survey administration 6 months from baseline instead of the 5 months initially planned.

2. Reminder postcard for the follow-up survey

The contact information for the Survey Center manager assigned to the project was updated.

3. Follow-up survey instrument

The follow-up survey collects data on respondents’ financial behavior and outcomes that are not captured in the employment, banking, and credit report data collected for the study. Specifically, the survey is used to measure the impacts of financial counseling on respondents’ use of financial services, money management behavior, financial health, financial attitudes, and financial knowledge.

This version reflects the final formatting by the UW Survey Center. The Center’s evaluation experts made recommendations about how to adjust question wording to maximize the validity and reliability of responses, and reduce likelihood of non-response.

A significant number of research participants elected to accept the direct deposit offer under evaluation using prepaid cards rather than bank accounts. Some survey questions were adjusted to capture information about participants’ use of prepaid and payment cards in addition to bank accounts so that we can better understand how the treatment under study (financial counseling) affects the use of financial services related to direct deposit.

Some questions were adjusted to better mirror survey questions used in previous studies in the literature. These studies include:

• Danes, S.M., and H.R. Haberman. 2007. Teen Financial Knowledge, Self-Efficacy, and Behavior: A Gendered View. Financial Counseling and Planning 18 (2):48-60.

• Danes, S.M., C. Huddleston-Casas, and L. Boyce. 1999. Financial Planning Curriculum for Teens: Impact Evaluation. Financial Counseling and Planning 10 (1):25-37.

• Perry, V.G., and M.D. Morris. 2005. Who Is in Control? The Role of Self‐Perception, Knowledge, and Income in Explaining Consumer Financial Behavior. Journal of Consumer Affairs 39 (2):299-313.

• Cohen, S., RC Kessler, and L. Underwood Gordon. 1994. Perceived Stress Scale. Measuring Stress: A Guide for Health and Social Scientists.