How do you feel about money?
The 10 questions of the CFPB Financial Well-Being Scale on the phone, once a quarter; the perceived score next to the household score.
What you find on this screen
A portrait of the screen, read from the screen itself — it changes when the screen changes.
Available actions
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How do you feel about money?
These are the 10 questions of the CFPB Financial Well-Being Scale (the US Consumer Financial Protection Bureau, 2015). Six ask how well a statement describes you; four, how often something happens. It takes 1 minute, once a quarter. After answering, you see how you feel next to what the household numbers say.
How to
Why measure how you feel
Financial well-being, as the CFPB defines it, is meeting today’s obligations, feeling secure about the future and having freedom of choice. Recent studies show perception and numbers often diverge: a household with savings may live in fear, and one that feels fine may have no savings. Measuring both is what enables the right conversation.
Rules
How the perceived score is calculated
Each answer is worth 0 to 4. Positive statements (1, 2, 4 and 8) count as answered; negative ones (3, 5, 6, 7, 9 and 10) are reversed — "always" on "my finances control my life" is worth 0. The sum goes from 0 to 40 and is shown from 0 to 10, on the same ruler as the household score. The CFPB publishes a table that converts the sum to 0–100; here we use the direct sum to compare with the objective score. A difference of 2 points or more starts the conversation.
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