Condition: Financial Difficulties · Sponsor: University of Turku
As of 2022, about 12% of children in Finland lived in poverty. Many of these families face not only a lack of money but also stress, low confidence in managing finances, and limited access to financial guidance. This study aims to support these families by improving their financial skills and well-being through a practical and research-based program. The intervention includes five sessions with a trained social service professional, focusing on budgeting, financial decision-making, emotions around money, and the role of money in relationships. The goal is to reduce financial anxiety, improve knowledge, and build confidence in managing finances. The sessions also aim to help families talk more openly about money and set realistic financial goals. To test effectiveness, a randomized controlled trial (RCT) will be conducted. Families are randomly assigned to either the intervention group (receiving the FinSoc program) or a control group (receiving regular social work services and, after final measurements, a material package to promote financial capability). At least 88 participants-families with at least one child under 18 and facing financial difficulties-will take part. Information will be collected at three time points: before the intervention, after it ends, and three months later. Outcomes include financial literacy, financial anxiety, economic self-efficacy, and health-related quality of life, measured with self-rating scales in questionnaires. In addition to question…
This description comes directly from the study's public registry record.
Anniina Kaittila senior lecturer, PhD · +358445071983 · sairai@utu.fi
Katri Viitasalo senior lecturer, PhD · katri.viitasalo@helsinki.fi
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| Univeristy of Turku | Turku, Finland | Recruiting |
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Source record: clinicaltrials.gov/study/NCT07084389