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:

 

  • Better understand your customers’ financial needs and identify opportunities to help them lead financially healthy lives.

  • Determine whether your products, programs, or services are making a difference in the lives of those you serve.

  • Pursue partnerships and develop strategies to better meet the needs of your constituents.

  • 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.

Explore the Toolkit

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.

See the Framework

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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.