NCT06489275

Building Financial Wellness Randomized Controlled Trial

Testing an Intervention to Promote Financial Wellness Among Adults With Psychiatric Disabilities

• Status: Completed
• Phase: N/A
• Study type: Interventional
• Enrollment: 100 (actual)
• Sponsor: University of Illinois at Chicago · Academic / Other
• Sex: All
• Age: 18 Years
• Healthy volunteers: Not accepted

Summary

This study tests a psychosocial intervention to improve financial literacy and behaviors among adults with mental illnesses.

Detailed description

This study is designed to test the effectiveness of a financial education curriculum, called Building Financial Wellness (BFW), in promoting financial literacy and reducing economic strain among adults with a mental health condition. The design involves random assignment of adults who are receiving mental health services to the intervention plus services as usual, versus services as usual alone. Assessments at baseline, two months post-baseline, and three months later collect data to test the null hypotheses of no difference between intervention and control conditions on outcome measures in the following domains using longitudinal mixed-effects random regression analyses: 1) financial well-being; 2) financial strain; 3) financial capability; 4) financial self-sufficiency; and 5) financial literacy.

Conditions

• Mental Disorder

Interventions

Type	Name	Description
BEHAVIORAL	Building Financial Wellness	In addition to receiving services as usual, subjects attend financial literacy classes and booster sessions.
OTHER	Services as Usual	Subjects continue to receive services as usual.

Timeline

• Start date: 2021-03-15
• Primary completion: 2023-10-31
• Completion: 2023-10-31
• First posted: 2024-07-05
• Last updated: 2024-07-05

Locations

1 site across 1 country: United States