Plan

Plan

PLANNING is a key element of any financial capability intervention. Often, due to the pressure of work, we skip this step in favour of getting the job done. However, it's really important to plan. Not only does planning mean that you're able to deliver a targeted and effective financial capability intervention, it also means that you are able to demonstrate how your financial capability intervention met your goals. This enables you to demonstrate to your management that your service is effective, provides value for money and is worthy of investment.

How to Plan your Money Management Intervention

What is a money management intervention?

It’s anything which will improve students’ financial capability (“their ability to manage money well, both day to day and through significant life events, and their ability to handle periods of financial difficulty” – Financial Capability Strategy for the UK, page 6).

It could be a face-to-face meeting with a student, a workshop for a small group of students, an event for a larger group of students or a campaign.  Or something entirely different!  As long as you think it will improve your students’ ability to manage their  money  it counts as an intervention.  It doesn’t have to be large-scale or complex, it can be something very simple.

When you come to plan to provide money management support for students, the template will help you decide:

  • who is your workshop/session/intervention aimed at  (e.g. Male students who are disengaged/overwhelmed with their finances)
  • what is your goal (e.g. To encourage more male students to seek money management support)
  • what outcomes do you want to see (e.g. A 50% increase of men seeking money management support)
  • what activities will your intervention consist of (e.g. Real-life, relatable stories published in the monthly on-line newsletter, with a call to action to attend a drop-in session
  • what will your outputs be (e.g.   On-line article, drop-in session materials)

Key Points

PLANNING can be daunting.

  • Focus as much on what you want to achieve with your intervention and how you will know you have achieved it as on how you will deliver it.
  • Remember to make your goal, outcomes and outputs SMART (Specific, Measurable, Attainable, Realistic, Timely).

Resources

Create a project

The PRISM toolkit is based upon the concept of “collective impact” which is where large-scale social change comes from cross-sector co-ordination, not isolated interventions or individual organisations. You can help to achieve a collective money management impact for our students by developing and sharing best practice. The toolkit will take you through a step-by-step journey, based on the cycle of: Plan, Do, Reflect and Share... start your journey now by creating a project to document your money management support project/workshop/session/intervention/activity.

Create a project