Caregiver Financial Empowerment Study

Last registered on March 10, 2021

Pre-Trial

Trial Information

General Information

Title
Caregiver Financial Empowerment Study
RCT ID
AEARCTR-0007295
Initial registration date
March 09, 2021

Initial registration date is when the trial was registered.

It corresponds to when the registration was submitted to the Registry to be reviewed for publication.

First published
March 10, 2021, 9:35 AM EST

First published corresponds to when the trial was first made public on the Registry after being reviewed.

Locations

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Primary Investigator

Affiliation
North Carolina State University

Other Primary Investigator(s)

PI Affiliation
Notre Dame
PI Affiliation
Notre Dame

Additional Trial Information

Status
In development
Start date
2021-02-01
End date
2026-01-01
Secondary IDs
Abstract
Research Question:
What is the impact of participating in intensive financial coaching and financial literacy classes on workers' financial capability, wellness, and mental health?

RCT:
Three charitable organizations, the Jewish Federation Services (JFS) in Austin, Dallas, and Houston, are working with Notre Dame’s Wilson Sheehan Lab for Economic Opportunities (LEO) to implement a large-scale randomized control trial (RCT) of an intensive financial literacy program with 6-12 months of individual financial coaching, based on the United Way Thrive model, and 6 financial literacy classes offered by the Women’s Resource Center. The study aims to enroll at least 900 participants, evenly divided between treatment and control, over the span of 3 years with participants being monitored for at least 12 months from study intake.

Data:
The researchers will provide evidence on the effectiveness of financial literacy coaching and classes on a host of important issues facing this population. The data for the project include a survey at intake, a follow-on survey at approximately 6-9 months, links to personnel records, links to unemployment insurance records and benefit receipt, and links to Experian Credit Report data. A key concern in this evaluation is whether the benefits of the program justify the cost of such an intensive intervention. By considering the “whole person” impacts, we are better able to capture the full scope of benefits to the worker and to the community.

Population:
Participants are drawn from caregivers registered to provide in-home eldercare through a matching agency, BubbieCare, in Austin, Dallas, and Houston, TX. The workers are independently hired by families to provide in-home care to elderly, with matching and payroll services provided by the company. This group of low-income, non-career workers, many of whom are immigrants, may particularly benefit from enhanced financial literacy and capability. Moreover, improving workers’ wellness may yield benefits to the employers. In this setting, there are clear externalities to a more productive workforce – they can provide better care. This study design enables the analysis of worker productivity as proxied through wages and length of relationship with the families of care recipients.
External Link(s)

Registration Citation

Citation
Batistich, Mary Kate, Kirk Doran and Melinda Morrill. 2021. "Caregiver Financial Empowerment Study." AEA RCT Registry. March 10. https://doi.org/10.1257/rct.7295
Experimental Details

Interventions

Intervention(s)
Intervention Start Date
2021-02-01
Intervention End Date
2023-12-31

Primary Outcomes

Primary Outcomes (end points)
Financial Capability, Financial Wellness, Higher Earnings
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Mental and Physical Health
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
See data analysis plan.
Experimental Design Details
Not available
Randomization Method
Randomization done by SurveyCTO software.
Randomization Unit
Individual
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
N/A
Sample size: planned number of observations
900
Sample size (or number of clusters) by treatment arms
450 treated / 450 control
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
IRB

Institutional Review Boards (IRBs)

IRB Name
Notre Dame
IRB Approval Date
2021-02-01
IRB Approval Number
20-12-6346
Analysis Plan

Analysis Plan Documents

CaFE_DataAnalysisPlan.pdf

MD5: e008ef09b06752180f1e5b379df1e457

SHA1: 2a060bb912b2de52ef8fef92cbe1dcfcb77bfc99

Uploaded At: March 09, 2021