Impact of Counseling on Knowledge, Feelings and Actions of Over-Indebted Borrowers in Tajikistan

A growing body of empirical work suggests that personalized, just-in-time consultation about financial decision-making, with an emphasis on goal-setting, may be more effective to bring about improvements in financial consumer behavior than generalized, classroom-style education. With this in mind...

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Main Author:	World Bank Group
Format:	Report
Language:	English en_US
Published:	World Bank, Washington, DC 2016
Subjects:	indebtedness financial literacy financial counseling household financial planning
Online Access:	http://documents.worldbank.org/curated/en/747971477547072566/Impact-of-counseling-on-knowledge-feelings-and-actions-of-over-indebted-borrowers-in-Tajikistan http://hdl.handle.net/10986/25384

id	okr-10986-25384
recordtype	oai_dc
spelling	okr-10986-253842021-05-25T09:53:05Z Impact of Counseling on Knowledge, Feelings and Actions of Over-Indebted Borrowers in Tajikistan World Bank Group indebtedness financial literacy financial counseling household financial planning A growing body of empirical work suggests that personalized, just-in-time consultation about financial decision-making, with an emphasis on goal-setting, may be more effective to bring about improvements in financial consumer behavior than generalized, classroom-style education. With this in mind, IFC piloted campaigns to provide free, neutral, confidential financial counseling services to consumers in Tajikistan in early 2016, attracting about five thousand participants. Consultations included identification of personal financial goals, mapping out of major upcoming expenses and income, identification of risks, and opportunities for savings. In order to assess the impact of counseling campaigns on consumers’ knowledge about their financial standing, feelings of readiness and capability to make good decisions, and actions to better balance income and expenses, maintain a household budget, IFC carried out an impact assessment of participants and control groups from two of the cities, Kurgantiube and Kulyab, at 0-, 3- and 6-months from the time of the counseling campaigns. The results provide valuable insights into the ways that counseling can drive financial consumers to change their behavior. 2016-11-18T19:36:52Z 2016-11-18T19:36:52Z 2016-09-01 Report http://documents.worldbank.org/curated/en/747971477547072566/Impact-of-counseling-on-knowledge-feelings-and-actions-of-over-indebted-borrowers-in-Tajikistan http://hdl.handle.net/10986/25384 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Economic & Sector Work :: Other Financial Sector Study Economic & Sector Work Europe and Central Asia Tajikistan
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	indebtedness financial literacy financial counseling household financial planning
spellingShingle	indebtedness financial literacy financial counseling household financial planning World Bank Group Impact of Counseling on Knowledge, Feelings and Actions of Over-Indebted Borrowers in Tajikistan
geographic_facet	Europe and Central Asia Tajikistan
description	A growing body of empirical work suggests that personalized, just-in-time consultation about financial decision-making, with an emphasis on goal-setting, may be more effective to bring about improvements in financial consumer behavior than generalized, classroom-style education. With this in mind, IFC piloted campaigns to provide free, neutral, confidential financial counseling services to consumers in Tajikistan in early 2016, attracting about five thousand participants. Consultations included identification of personal financial goals, mapping out of major upcoming expenses and income, identification of risks, and opportunities for savings. In order to assess the impact of counseling campaigns on consumers’ knowledge about their financial standing, feelings of readiness and capability to make good decisions, and actions to better balance income and expenses, maintain a household budget, IFC carried out an impact assessment of participants and control groups from two of the cities, Kurgantiube and Kulyab, at 0-, 3- and 6-months from the time of the counseling campaigns. The results provide valuable insights into the ways that counseling can drive financial consumers to change their behavior.
format	Report
author	World Bank Group
author_facet	World Bank Group
author_sort	World Bank Group
title	Impact of Counseling on Knowledge, Feelings and Actions of Over-Indebted Borrowers in Tajikistan
title_short	Impact of Counseling on Knowledge, Feelings and Actions of Over-Indebted Borrowers in Tajikistan
title_full	Impact of Counseling on Knowledge, Feelings and Actions of Over-Indebted Borrowers in Tajikistan
title_fullStr	Impact of Counseling on Knowledge, Feelings and Actions of Over-Indebted Borrowers in Tajikistan
title_full_unstemmed	Impact of Counseling on Knowledge, Feelings and Actions of Over-Indebted Borrowers in Tajikistan
title_sort	impact of counseling on knowledge, feelings and actions of over-indebted borrowers in tajikistan
publisher	World Bank, Washington, DC
publishDate	2016
url	http://documents.worldbank.org/curated/en/747971477547072566/Impact-of-counseling-on-knowledge-feelings-and-actions-of-over-indebted-borrowers-in-Tajikistan http://hdl.handle.net/10986/25384
_version_	1764459040307412992

Impact of Counseling on Knowledge, Feelings and Actions of Over-Indebted Borrowers in Tajikistan

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