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AARP New York Money Management Needs Assessment

To assess the need for an expansion of the AARP Foundation Money Management Program in the state of New York, AARP surveyed New York service providers who hear about or help individuals who need assistance handling their day-to-day personal finances.

  • Nearly two-thirds of organizations surveyed believe there is a major or moderate need for a money management program for their client population. This level of need was expressed by organizations across the state as well as in New York City.
  • Two in five (40%) organizations, statewide and in New York City, indicated that in an average month up to ten people are referred to their organization for money management help due to mental, physical, or social limitations. Nearly one in five (17%) organizations indicated that in an average month more than ten clients are referred or seek assistance because of these limitations. In New York City, the proportions are the same (18%).
  • If additional resources were available, more than half (56%) of statewide service providers would be extremely or very likely to expand their money management services. Five out of the eleven New York City providers said they would be willing to do so.
  • Seven in ten organizations, statewide and in New York City, strongly or somewhat agreed that trained, supervised, monitored, and insured volunteers can provide quality money management assistance.

AARP State Research conducted this study in two phases. The first phase, a mail survey, was completed by 565 organizations between June 1 and August 3, 2007, and explored the types of money management services currently being provided across the state, how money management needs are being met, and the perceived level of need for a money management program expansion. The second phase involved a phone survey between August 29 and September 14, 2007, and was completed by 100 organizations identified in phase 1 as direct service providers, that is, people or places that clients are referred to for assistance with money management tasks. For more information, contact Cassandra Burton at 202-434-3547. (37 pages)

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