Common GoodCommon Good

Based in Providence RI, the Capital Good Fund delivers financial literacy and loans to under-resourced families. The purpose their program Financial Counseling Plus (FC Plus) is to break the cycle of poverty when resource poor families raise children who are destined to follow in the financial footsteps of their parents. Through FC Plus the Fund offers training in financial management, individual counseling sessions and nutritional information to clients.  It also provides these families with small low interest loans that can be used to consolidate debt and/or provide partial start-up funding for small businesses.  While focus is placed on the parent(s), children also receive attention.

 

Unique to the program is the insistence upon measuring its impact using a controlled and experimental model.  The financial wellbeing of families participating in the program is measured by the amount of outstanding debt, savings rates, credit scores and other family financial variables before and after the training is administered. Capital Good also measures the academic performance of the children of participating parents. Both the financial wellbeing of the parents and the academic progress of FC Plus their children are then measured against a similar group of parents and students who do not participate in FC Plus. This randomized control study will determine if FC Plus is not only improving the financial position of the participants, but the academic progress of their children as well.