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Envisioning Your Clients’ Financial Capability
TOOL 3: The Theory of Change
1
INSTRUCTIONS
For each program, summarize your target clients’ current financial capability (from Tool
1) in the circles on the left of the Theory of Change graphic. Then, in the starbursts on
the right side of the graphic, indicate your targeted financial capability outcomes for
clients in these programs (from Tool 2). For each outcome, list the financial capability
service(s) you think will help to bring about this change in the arrows in the middle.
After you have done this, you will summarize your Theory of Change for each target
program into a brief narrative that will become your “elevator pitch” when you need to
make the case for your financial capability work to stakeholders. (This elevator pitch
will also be useful in the Key Stakeholder Support tool to be found in the “Making the
Case” section.)
Theory of Change
Clients’ Financial
CAPABILITY
Financial Capability
SERVICES
Financial Capability
OUTCOMES
TOOL 1
TOOL 3
TOOL 2
What you need to
complete this tool:
Target population
analysis. (From Tool 1)
Target financial capability
outcomes. (From Tool 2)
Knowledge of financial
capability services.
(See Appendix A of
Building Financial
Capability: A Planning
Guide for Integrated
Services for more
information about
financial capability
services.)
The tools in this section come together to form the Theory of Change
Tools for Building Financial Capability: A Planning Guide for Integrated Services (c) 2015 by CFED and the Administration for Children & Families
under GSA Schedule Contract GS-10-F-0177L / Order No HHSP233201200674G
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TOOL 3: The Theory of Change (Section 1 Capstone Tool)
Part A. Select the financial capability services that will help the participants in each program
achieve the desired outcomes (from Tool 2) and list them in the middle column of the table below.
Make sure that all the outcomes listed in your Theory of Change table connect directly to at least
one of the financial capability services you plan to provide. You can revise or remove outcomes
you selected in Tool 2 if they no longer seem attainable. You will further refine these services and
determine who will provide them in the next two sections of this Guide.
TARGET PROGRAM
Clients’ Financial
CAPABILITY
Financial Capability
SERVICES
Financial
Capability
OUTCOMES
TOOL 1
TOOL 3
TOOL 2
Tools for Building Financial Capability: A Planning Guide for Integrated Services (c) 2015 by CFED and the Administration for Children & Families
under GSA Schedule Contract GS-10-F-0177L / Order No HHSP233201200674G
Envisioning Your Clients’ Financial Capability
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TOOL 3, PART B.
Develop a brief narrative of your completed Theory of Change for each target program.
Note your program clients’ current financial capability, what outcomes you are targeting,
and the services you plan to provide to achieve those outcomes.
Narrative Theory of Change
Tools for Building Financial Capability: A Planning Guide for Integrated Services (c) 2015 by CFED and the Administration for Children & Families
under GSA Schedule Contract GS-10-F-0177L / Order No HHSP233201200674G