Supporting Families Facing Complex Financial Difficulties Through a Structured Financial Social Work Program A Randomized Controlled Trial of the FinSoc Intervention

What this Trial Is About

Researchers are investigating a financial social work program called FinSoc designed to help families in Finland who face complex financial difficulties and have at least one child under 18. The study aims to support these families by improving their financial skills, reducing anxiety related to money, and enhancing overall well-being through a structured, research-based intervention. Families struggling with budgeting, debt repayment, and financial stress are invited to participate in this randomized controlled trial. The FinSoc program consists of five one-on-one sessions with a trained social worker. These sessions cover topics such as budgeting, emotional and relational aspects of money, financial decision-making, and building long-term financial capability. Families are randomly assigned to either receive the FinSoc intervention or continue with regular social work services. After the final measurements, the control group will receive a materials package to support financial capability. Participants will complete questionnaires at three points before the intervention, right after it ends, and three months later. These questionnaires assess financial literacy, financial anxiety, economic self-efficacy, and health-related quality of life. In addition to surveys, interviews with some families and social workers will explore their experiences with the program. Social workers will also provide feedback after each session to ensure the intervention is delivered as planned. The study seeks to improve daily life for families and contribute knowledge to social and economic well-being practices.

A Financial Social Work Intervention for Families With Complex Financial Difficulties (FinSoc)