Financial Health Measurement
By measuring the financial health of your customers, clients, and employees, your organization can define success based on positive outcomes for both your business and your customers. The Financial Health Network has the innovative tools and research to help you get started.
Why Measure Financial Health?
Diagnosing and tracking the financial health of your customers, clients, and employees will allow you to:
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Better understand your customers’ financial needs and identify opportunities to help them lead financially healthy lives.
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Determine whether your products, programs, or services are making a difference in the lives of those you serve.
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Pursue partnerships and develop strategies to better meet the needs of your constituents.
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Assess your company’s efforts against national, regional, and local benchmarks.
What is Financial Health?
Financial health is a composite measurement of a person’s financial life. Unlike narrow metrics like credit scores, financial health assesses whether people are spending, saving, borrowing, and planning in a way that will enable them to be resilient and pursue opportunities over time.
Eight Indicators of Financial Health
How Do I Measure?
Collecting a combination of survey data and transactional data will provide your company with the most complete picture of customers’ financial health. Survey data provides a holistic snapshot of customers’ financial lives, while transactional data offers more nuanced insights that you can track over time.
Measuring with Survey Data
The CFSI Financial Health Score® Toolkit is designed to help companies measure financial health. Simple and easy to use, it provides you with a snapshot of your customers’ financial lives. Use it to diagnose and track customer data, or to share financial health scores and actionable advice with your customers, clients, or employees.
Measuring with Transactional Data
Companies can also use their own transactional or administrative data to measure financial health. Collecting consumer data that aligns with the eight indicators of financial health will provide a more nuanced, fine-grained understanding of your customers’ financial health.
Get Started or Go Deeper
- See how you can start measuring health with the FinHealthScore® Toolkit.
- Contact CFSI to discuss a holistic financial health measurement strategy for your company.
- Already measuring financial health? Apply to be a Financial Health Leader.
- Support the groundbreaking U.S. Financial Health Pulse research initiative.
Explore All Related Research
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2019 Financial Health Leaders Spotlight Podcast: MMI
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Advances in Financial Health Measurement: Insights from the 2018 Financial Health Leaders Program
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Case Study: Developing a Survey to Track Financial Health for Global Customers
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2018 Financial Health Leaders Spotlight: LendUp
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2018 Financial Health Leaders Spotlight: Simple
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Webinar: What Customers Actually Want: Customer Satisfaction and Financial Health
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2018 Financial Health Leaders Spotlight: Commonwealth Bank of Australia
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Understanding Your Financially Coping and Vulnerable Customers
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2018 Financial Health Leaders Spotlight: BECU
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2018 Financial Health Leaders Spotlight: Moven
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2018 Financial Health Leaders Spotlight: Finicity
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2018 Financial Health Leaders Spotlight: GreenPath
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2018 Financial Health Leaders Spotlight: FinFit
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2018 Financial Health Leaders Spotlight: UFCU
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Financial Health Leaders
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Financial Health Leader Spotlights
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2018 Financial Health Leaders Spotlight: Opportunity Fund
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2018 Financial Health Leaders Spotlight: Accion
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Best Practices in Financial Health Measurement
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2018 Financial Health Leaders Spotlight: Regions Bank
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2018 Financial Health Leaders Spotlight: Cinch Financial
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2018 Financial Health Leaders Spotlight: Servus Credit Union
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New Insights to Improving Financial Health
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Leveraging Opportunities to Improve Financial Health
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Assessing Products and Services to Fit the Needs of Their Customers
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Measuring Customer Attitudes and Behaviors Through Surveys
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Helping Credit Unions Tackle Financial Health
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2018 Financial Health Leaders Spotlight: Safety Net, LLC
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Design and Deliver: Developing Solutions
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Diagnose: Understanding Your Customers
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Orient and Align: Laying the Groundwork
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Finding The Right Measurement Tools
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A Unique Short-Term Cash Flow Solution
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Tools to Provide a Prescription for Financial Health
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Bill Payment Data as a Guide for Product Development
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Measuring Financial Health of Members and the Community
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The Journey to Financial Health: Your Company’s Roadmap
Connect With Our Thought Leaders
Interested in connecting with the Financial Health Network for a media interview, speaking opportunity, research, membership or consulting request? Reach out and we’ll connect you with the right financial health measurement expert.
Additional Research Topics
Financial health depends on a complex set of factors and circumstances. That’s why the Financial Health Network produces research in a variety of areas impacting our financial lives.