Financial Health Scorecard

Welcome to our Financial Health Scorecard, a dynamic tool designed to offer you a quick and insightful assessment of your current financial well-being. By simply inputting key financial metrics such as your income, expenses, assets, and liabilities, you'll receive a comprehensive 'financial health score.' This score aims to illuminate your financial stability and pinpoint areas for potential improvement. Whether you're planning for the future or looking to enhance your financial management strategies today, our scorecard provides a personalized snapshot of where you stand and practical tips to help you achieve financial wellness.

Formula to calculate financial health

  • Emergency Fund Aim for an emergency fund that is at least 6x your monthly income for a 100% score​
  • Debt to Income Ratio (DTI) Strive for a DTI as close to 0 as possible. A DTI ratio of 1 will result in a 0% score, while a DTI of 0 will result in a 100%​
  • Retirement Savings Your current savings should be at least equal to your target saving rate for a 100% score​
  • Insurance Coverage Having life insurance coverage equal to or greater than 10x your annual income scores 100%​
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Enter your total monthly income before taxes and deductions. This includes your salary, wages, bonuses, and any other sources of income.
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Specify the total amount currently saved in your emergency fund. This fund should ideally cover 3-6 months of living expenses for unforeseen situations like medical emergencies or job loss.
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Enter the total amount of money you currently have saved across all your accounts, including savings accounts, investment accounts, and any other funds set aside for future use. This includes money saved for specific goals, retirement, or general savings, but not your emergency fund, which is intended for unexpected expenses.
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Input the total amount of debt you owe, including credit cards, student loans, mortgages, and any other personal loans.
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Define your target saving rate as a percentage of your income. This is the portion of your income you aim to save each month or year, not including retirement savings.
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Enter the total amount of your current life insurance coverage. Consider whether this amount adequately supports your dependents or f inancial obligations in the event of your passing.
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Provide your total annual income before taxes. This should include all sources of income over the year, such as salary, bonuses, and any additional income streams.