FinHealth Spend Research 2021
The FinHealth Spend Research estimates what U.S. households pay in interest and fees for common financial services every year. The majority of U.S. households were struggling financially before COVID-19, and the pandemic added pressures that affected access to everyday financial products. This report analyzes how the hundreds of billions Americans spent on interest and fees in 2020 varied by race, income, and other demographic factors, with specific insights into the increased burdens borne by financially struggling consumers.
H.M. Queen Máxima of the Netherlands: Building a Financially Inclusive World
Her Majesty Queen Máxima of the Netherlands’ passion for financial inclusion began as a child in Argentina, navigating the impacts of hyperinflation on families and desire to act. In her role as the United Nations Secretary-General's Special Advocate for Inclusive Finance for Development (UNSGSA), she champions access to affordable and safe financial services for communities around the world, especially underserved groups. Through close collaboration with public and private sector partners, her work has driven real progress for financial health. In this episode of EMERGE Everywhere, learn more about Queen Máxima’s experiences, accomplishments, and vision for the future of financial inclusion and financial health.
Pulse Points Fall 2021: How Families Are Using Child Tax Credits
New Pulse transactional data suggests that child tax credit payments have had a positive financial impact on recipients, particularly those who experienced hardship in the past.
Managing the Initial Financial Shock
Justice-involved individuals and their families face a number of expenses that can create financial strains immediately after arrest, including posting bail and hiring legal representation.
EFH Toolkit: Connect with Peers
Learn how the Financial Health Network can help your organization build an effective program to improve employee financial health.
The Cost of Financial Services for Struggling Households
FinHealth Spend Report 2021 co-author Meghan Greene goes beyond the numbers to shed light on the products that are driving spending and examines the meaningful disparities that impact the lives of millions in this member-exclusive video.
Member Content Sharing
Highlight your expertise by sharing insights, research, and materials to be accessed by other Members of our Financial Health Network.
2020 Financial Health Leaders
The Financial Health Leaders program recognizes Members that are at the forefront of financial health measurement. Leaders are Members that have committed to measuring the financial health of their customers, employees, and/or clients.
Benefits
Member benefits
Fintech Innovation Leader Joins the Financial Health Network
Hannah brings a passion for financial health and knowledge of startups, nonprofits, financial services, and the fintech ecosystem at large. She will be responsible for the strategic direction of our Innovation practice, including the Financial Solutions Lab.
Risky Business: Pandemic Underscores How Strong Personal Financial Health Can Build Small Business Resilience
It’s critical that small businesses — especially those in underserved communities — get support from government and philanthropies to rebuild, and that owners also receive personal financial health support so they can build resilience over time and weather future financial shocks.
2020 Branch Report
Provided by Branch, this research reveals how the coronavirus pandemic has affected the priorities and concerns for workers in sectors such as food service, retail, and healthcare.
Financial Health Can Be So… Retro
Some of the most popular financial health tools introduced by fintechs actually replicate and automate habits and “life hacks” that many households used successfully before the era of electronic banking and payments. These digital “retronovations” bode well for banks and credit unions seeking to offer services that help their customers while also bringing subscription revenues that lessen institutions’ dependence on penalty fees.
Motivating Change: Behavioral Economics and Financial Health
By Heidi Johnson Director, Financial Health Network Director Heidi Johnson joined the Financial Health Network team in 2019 to lead our work applying behavioral insights to the design and delivery of financial health products. She comes to our organization from the Consumer Financial Protection Bureau, where she led a behavioral research program and contributed to…
New Pulse Data: Those Who Need COVID-19 Stimulus Most Are the Last to Get It
By David Silberman, Senior Advisor, Financial Health Network The COVID-19 pandemic has caused widespread economic dislocation. Tens of millions of Americans have lost their jobs, at least temporarily, and millions more have seen their hours drastically cut. Those job and wage losses have fallen disproportionately on low-wage workers, especially blacks and Latinos, who are concentrated…
Income, Age, Race, and Gender Are Key Factors as New Data Shows 1 in 3 Americans Earning Less During COVID-19
In this new data from the 2020 U.S. Financial Health Pulse, a nationally representative online survey fielded from April 20 to May 7, learn how vulnerable groups are struggling in the wake of the pandemic.
U.S. Financial Health Pulse Fact Sheet: COVID-19
Looking at existing data on financial health pre-crisis can help us size up its potential downstream effects.
Member-Exclusive Webinar: The Intersection of Consumer Transactional + Survey Data
Discover insights related to the intersection of consumer transactional data and survey data during this first webinar from the U.S. Financial Health Pulse Webinar Series.
Financial Health & Behavioral Change
This research has been provided by FinFit.
Webinar: The Role of Trust in the Financial Data Ecosystem
During this webinar, attendees heard from a leading financial technology company about the importance of being a trusted steward of consumers’ data and discussed what good data governance means for consumer financial health
U.S. Financial Health Pulse 2019 Trends Report
How is the financial health of Americans changing over time? In a year-over-year analysis, the second annual U.S. Financial Health Pulse report reveals that the majority of Americans are still unprepared for financial shocks.
Supporting Financial Health for Millennials and Women in the Workplace
Millennials and women have unique financial needs. This report sheds light on the needs and preferences of these employees, helping employers develop targeted solutions that can set them apart in a competitive marketplace.
2019 Financial Health Leaders Spotlight Podcast: MMI
Our Financial Health Leaders program spotlights the Financial Health Network members who are at the forefront of financial health innovation. Listen in as we hear how MMI is using the FinHealth Score™ to measure the impact of natural disasters on its clients through a new initiative called Project Porchlight.
The Case for Employers to Invest in Employee Financial Health
Employees at mid- to large-sized companies struggle with many aspects of their financial lives, causing them stress and creating spillover effects on job productivity, according to a new survey of 1,000 employees. In this infographic, Financial Health Network reveals key survey findings and opportunities for employers.
How Industry Executives View Financial Health
In a new survey, the Financial Health Network reveals how financial institutions are approaching financial health as they seek to engage customers meaningfully and profitably.
Advances in Financial Health Measurement: Insights from the 2018 Financial Health Leaders Program
In 2018, 34 Financial Health Leaders measured the financial health of over 10 million consumers. This report shares case studies and best practices for using transactional data to measure financial health and for sharing consumer-facing financial health scores to empower customers and drive engagement.
Spreading Fintech Solutions into New Crucial Sectors
Read about the latest trends in fintech and learn about the companies in the fourth cohort of the Financial Solutions Lab, which seeks to identify, test, and bring to scale innovations that improve Americans' financial health.
2019 Member Kit
Announce your membership publicly and internally using the Press Kit, learn about member-only research and events.
Measuring Financial Health Part 2: 6 Tips for Measuring Your Customers’ Financial Health
Here are six tips discussed in our recent webinar featuring innovative companies who have been using our FinHealth Score Toolkit to measure their customers' financial health.
U.S. Financial Health Pulse: 2018 Baseline Survey Results
In this initial study, the Financial Health Network reveals how we’re faring financially and the trends shaping our financial health.
The Power of Non-Traditional Distribution Channels Webinar
During this Financial Health Network webinar, a group of innovative financial service providers shares about best practices in financial health measurement.
Homeowners and Renters Insurance Spotlight
This brief takes a closer look at the homeowners and renters insurance coverage, acquisition channels, knowledge, and claims experience of American consumers, with a particular focus on low- to moderate-income (LMI) consumers.
2018 Financial Health Leaders Spotlight: Accion
Listen in as Accion shares findings from a multi-year, mixed-methods study evaluating the impact of mission-based small business lending services and what partnerships and next steps it’s planning as a result.
Member Summit 2018
Member Summit 2018 was October 4-5, 2018 in Chicago, IL.
Assessing Products and Services to Fit the Needs of Their Customers
Learn what a the Financial Health Network Financial Health Assessment taught Patelco about their customers and how they are assessing products and services based on this data.
Amy Cox Household Profile: Living Paycheck to Paycheck
U.S. Financial Diaries Case study: Amy Cox is a white 34-year-old single mother of two. She lives with her children, Hailey, 9, and Andy, 8, near Cincinnati, OH. A natural caregiver, Amy works at a day care center.
Financial Health and Community College Students
Understanding the three prominent financial health challenges that community college students face and how those students can improve their financial health through choosing and using quality products and services.
Compass Principles: Transaction Product Examples
This one-pager gives examples of applying the Compass Principles to transaction products.
Designing Breakthrough Solutions to Consumer Challenges
The Center for Financial Services Innovation (CFSI) offers consulting services that guide organizations through each stage of offering new solutions, from development to ongoing measurement.
Dispatch from D.C. — March 2016 — Executive Summary
8 Approaches to Unlocking Customer Opportunities
Discover eight learnings that the Center for Financial Services Innovation (CFSI) has gathered while helping more than 100 financial institutions engage more meaningfully with their customers.
Case Study: Re-Defining an Awards Strategy: Opportunity Finance Network
More than 68 million low-income Americans don’t get the financial services they need. This market gap that prompted a network of community development financial institutions to turn to the Financial Health Network.
“MyBudgetCoach” by Solutions for Progress
MyBudgetCoach (MyBC), operated and distributed by Solutions for Progress (SfP), is an online platform designed to complement and enhance existing financial coaching programs.
“MyPath Savings” by MyPath
MyPath partners with workforce development programs and financial institutions to help young adults improve their financial health.
Dispatch from D.C. — December 2015
“LIFT-UP” by National League of Cities
LIFT-UP (Local Interventions for Financial Empowerment through Utility Payments) is a multi-city initiative overseen by the National League of Cities’ (NLC) Institute for Youth, Education, and Families designed to provide financial counseling to delinquent utility customers
“MAGIC Mojo” by Piggymojo
Piggymojo built an online and mobile tool that uses goal visualization, social sharing and mobile technology to help savers turn impulse buys into “impulse saves.”
Saving Habits and the Financially Struggling Majority
A Financial Solutions Lab Brief on Household Cash Flow Challenges
This brief explores the challenge of household cash flow challenges, its impact on financial health, and the opportunity for innovation.