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The investigators have partnered with financial coaching organizations to establish what the investigators have termed a "Medical-Financial Partnership (MFP)" that offers financial coaching to improve financial and mental health. The investigators will evaluate the MFP's impact on health related quality of life using the Patient Reported Outcome Measurement Information System (PROMIS) 10 Global Short Form.
Financial coaching is a new tool in the field of community development, but it has already demonstrated significant financial impact in a number of studies, including one randomized trial conducted by the Urban Institute. Financial coaching improves participant financial literacy, budgeting, saving for financial emergencies, and debt level. The investigators' project will help clinicians and the field of community economic development understand health and well-being through a new economic lens and assess the health-related impacts of the emerging field of financial coaching. The investigators have partnered with financial coaching organizations to establish what they have termed a "Medical-Financial Partnership (MFP)" that offers financial coaching to improve financial and mental health. The investigators will evaluate the MFP's impact on health related quality of life using the Patient Reported Outcome Measurement Information System (PROMIS)10 Global Short Form.
Community-based participants will be recruited from South Los Angeles and randomized to receive either monthly financial coaching plus access to referral for social services (intervention) or access to referral for social services alone (control). Inclusion criteria include having dependents under age 18, having some form of income, and having a tax identification number (social security number or Individual Tax Identification Number). Participants will be surveyed quarterly regarding their health related quality of life using the PROMIS-10 Global Short Form.
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| Label | Type | Description | Intervention Names |
|---|---|---|---|
| Financial Coaching & Access to Services | Experimental | Enrollment in one-to-one financial coaching intervention to support savings, income, and credit while reducing debt using available tools in the community development field. |
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| Access to Services | Active Comparator | Participants will have access to a host of referrals to social services (this is the intervention for this group) |
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| Name | Type | Description | Arm Group Labels | Other Names |
|---|---|---|---|---|
| Financial Coaching | Behavioral | One-to-one financial coaching focused on credit, debt, savings, and income supports. |
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| Measure | Description | Time Frame |
|---|---|---|
| Health-Related Quality of Life | We will assess differences between the groups and over time in terms of health-related quality of life | Up to one year (if possible) |
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Inclusion Criteria:
Exclusion Criteria:
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| Name | Affiliation | Role |
|---|---|---|
| Adam Schickedanz, MD | University of California, Los Angeles | Principal Investigator |
| Facility | Status | City | State | ZIP | Country | Contacts |
|---|---|---|---|---|---|---|
| LIFT-LA in Affiliation with UCLA | Los Angeles | California | 90007 | United States |
Participant consents do not include data sharing beyond the study and there exists no appropriate repository for data sharing.
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| Access to referral to social services | Behavioral | Access to referral to a host of social services. |
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