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Financial coaching: A strategy to improve financial well-being

About CFPB Research, Tools, and Resources for Financial

Educators

An essential part of the mission of the Consumer Financial Protection Bureau (CFPB or Bureau)
is to empower consumers to take more control over their financial lives. Since the Bureau
opened its doors in 2011, we have worked to improve the financial literacy of consumers in the
United States and to ensure access to tools, information, and opportunities for skill-building
that they need to manage their finances.
The Bureau’s principal financial education mandate is set forth in the Dodd-Frank Wall Street
Reform and Consumer Protection Act (Dodd-Frank Act). The Dodd-Frank Act created the
Bureau and mandated the establishment of an Office of Financial Education to “be responsible
for developing and implementing initiatives intended to educate and empower consumers to
make better informed financial decisions.” 12 U.S.C. § 5493(d)(1).
To better help consumers make well-informed financial decisions and achieve their own life
goals, we at the CPPB have sought to increase understanding of three broad areas: consumer
financial behavior, the financial education field, and effective practices in financial education.
We conduct research in these areas to inform the CFPB’s own financial education efforts and to

share our insights with others who have a common interest in improving the financial well-
being of consumers.

 

The CPFB’s goal for its financial education activities is to help consumers move towards
financial well-being. In the CFPB’s definition of financial well-being, consumers:
 have control over day-to-day, month-to-month finances
 have the capability to absorb a financial shock
 are on track to meet financial goals, and
 have the financial freedom to make choices that allow one to enjoy life

To learn more, visit the Resources for Financial Educators webpage at
http://www.consumerfinance.gov/adult-financial-education

To get regular updates on CFPB research, tools, and resources for financial educators, sign up
for the CFPB Financial Education Exchange (CFPB FinEx) by emailing CFPB_FinEx@cfpb.gov.

 

To read the full report:

https://drive.google.com/file/d/0B88uTuMrUd2_NFg5UHk4S2lSVm8/view?ts=5994c5bf

 

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