Fact Sheet How $tand By Me Has Helped Delaware Residents Improve Their Financial Well-Being
Brett Theodos, Daniel Teles, Benny Docter
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Financial coaching programs are increasingly popular services offered to help people with low and middle incomes navigate their finances. Despite these programs’ growing prevalence, evidence about their effectiveness is still emerging. We evaluated a statewide public-private partnership financial coaching program in Delaware: $tand By Me ($BM). This fact sheet highlights the key findings from analysis of credit data. We find $BM clients took more active steps to improve their financial well-being and creditworthiness than a comparison group. $BM clients took advantage of their improved creditworthiness by adopting new forms of debt. Finally, the program’s effects on clients’ debt levels was mixed.

Research Areas Wealth and financial well-being Families Education
Tags Asset and debts Economic well-being Financial knowledge and capability Financial products and services Opportunity and ownership
Policy Centers Center on Labor, Human Services, and Population Metropolitan Housing and Communities Policy Center
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Financial coaching programs are increasingly popular services offered to help people with low and middle incomes navigate their finances. Despite these programs’ growing prevalence across the US, evidence about their effectiveness is still emerging. To add to the evidence base, Urban Institute st...