Llyfrgell Ymchwil
An Evaluation of The Mix Money Helpline
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Description of the programme
The Mix was awarded a grant to launch The Mix Money Helpline, a multi-channel financial support service for young people aged 16-25 facing financial issues at key life transition stages in their lives provided by trained volunteers via phone, webchat and email.
Following the discovery that separating money issues from other issues young people face is difficult as money issues are often intertwined with other problems, the helpline design was adapted. The money advice has been embedded into the existing helpline support for the under 25s dealing with a wide range of issues.
Over the course of this programme The Mix supported 88,446 young people with money and financial worries.
The study
Key research question was:
The outcomes measured, taken from The Financial Capability Outcomes Framework developed by NPC, included:
- self confidence in managing money
- attitudes to receiving advice
- attitudes to money
A pre and post design was used. The evaluation method consisted of a short survey to money service users at the time of accessing the service, either via telephone or online, and a short-term online follow-up survey administered 2 weeks later. In total 43 responses were received to both the initial and follow-up surveys. Impact of the service on their financial capability was also discussed with a small number of volunteers.
The evaluation also aimed to review how the helpline and online money content is being used; to create an evidence base on which to further develop our services; determine whether users use different channels for different topics; and collect learnings from implementation. To answer these questions a mixed method approach was utilised using both qualitative and quantitative methods. The evaluation took place between July 2017 and June 2018.
Key findings
- While overall self-confidence in managing money did not change significantly, there is evidence that accessing the service significantly increases feeling of being in control of finances and being organised with day-to-day money
- The service contributed to an increase in knowing how to seek financial advice, and in young people feeling that they can make a difference to their financial situation, in both cases a significant improvement was observed
- Signposting worked well, with over 9 in 10 of respondents contacting at least some of the organisations suggested to them
- The findings above are based on a small sample of respondents (43) somewhat limiting the evidence strength
- While there were 13,330 interactions on the helpline between July 2017 and May 2018, there were 825 (6%) instances where the main issue was money. This is somewhat lower than originally envisaged, however, there were 280 other instances where money issue was addressed but not as the main issue. Phone was the most popular channel of accessing the helpline, with the top two money issues discussed including benefits (49%) and money management (40%).
- Around one in ten users accessing The Mix’s website accessed the money pages; with 430,599 page views of the money related content being made during the 11 month period. The most frequently visited topics included jobseekers allowance (17%) and emergency support (14%). People were directed to the Mix’s money web content from over 25 different websites, with the largest numbers coming from advicenow.org.uk.
- Currently, there are 117 volunteers working on the helpline. Some 462 applications were received between July 2017 and May 2018, with 174 volunteers starting their training, and 70 volunteers being inducted into their jobs.
- Insights from the focus groups show that young people are interested to learn more about saving for the future, how to budget, and how to balance spending on essentials, social life and other non-essentials. They would like more information on taxes or financial products such as pensions. Many suggested that more information about money management should be taught at schools.
- Impulsive spending, peer pressure (to have the latest tech), societal values (consumption), or social pressure (to buy an expensive present) that lead to overspending were reappearing themes in the discussions. Young people want to learn how to avoid these behaviors that lead to issues with money. Experience with The Mix was positive, with participants accessing the service finding the information useful.
- As noted, the helpline design has been changed compared to the original vision, with the financial support being fully integrated into the existing helpline rather than being a stand-alone service. As a result The Mix can provide more holistic support to young people as the money issues are often intertwined with other problems.
Points to consider
- As non-random convenient sampling was used, selection bias might have occurred
- Fairly small sample size (43) and no comparison group limit the evidence strength
- The follow-up time period for the evaluation was limited
- The vast majority of people completing the outcome survey used website; it is not certain whether the outcomes for the helpline would be the same