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CFPB Financial Well Being Scale

The CFPB Financial Well-Being Scale is a reliable tool for evaluating overall money health. It looks past income to measure confidence, security, and long-term stability with finances. Financial advisors use it to uncover client needs and design more personalized plans.

2 minutes to complete

Eligibility

To complete the CFPB Financial Well Being Scale, individuals must be at least 18 years old, have a basic understanding of personal finance concepts, and be willing to answer questions honestly about their financial situation. The scale is designed to assess an individual's overall financial well-being and provide personalized recommendations for improvement.

Questions for CFPB Financial Well Being Scale

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Instructions to use CFPB Financial Well Being Scale

  • Refer to the CFPB Financial Well-Being Scale scoring worksheet attached in reference to convert this total response value into your final financial well-being score; note that the scores differ depending on whether the survey is self-administered or administered by someone else.

Questions

1.

I could handle a major unexpected expense

The answer should be a single choice:
  1. Completely
  2. Very well
  3. Somewhat
  4. Very little
  5. Not at all
2.

I am securing my financial future

The answer should be a single choice:
  1. Completely
  2. Very well
  3. Somewhat
  4. Very little
  5. Not at all
3.

Because of my money situation, I feel like I will never have the things I want in life

The answer should be a single choice:
  1. Completely
  2. Very well
  3. Somewhat
  4. Very little
  5. Not at all
4.

I can enjoy life because of the way I’m managing my money

The answer should be a single choice:
  1. Completely
  2. Very well
  3. Somewhat
  4. Very little
  5. Not at all
5.

I am just getting by financially

The answer should be a single choice:
  1. Completely
  2. Very well
  3. Somewhat
  4. Very little
  5. Not at all
6.

I am concerned that the money I have or will save won’t last

The answer should be a single choice:
  1. Completely
  2. Very well
  3. Somewhat
  4. Very little
  5. Not at all
7.

Giving a gift for a wedding, birthday, or other occasion would put a strain on my finances for the month

The answer should be a single choice:
  1. Always
  2. Often
  3. Sometimes
  4. Rarely
  5. Never
8.

I have money left over at the end of the month

The answer should be a single choice:
  1. Always
  2. Often
  3. Sometimes
  4. Rarely
  5. Never
9.

I am behind with my finances

The answer should be a single choice:
  1. Always
  2. Often
  3. Sometimes
  4. Rarely
  5. Never
10.

My finances control my life

The answer should be a single choice:
  1. Always
  2. Often
  3. Sometimes
  4. Rarely
  5. Never

Interpretation

Score Range (Finalscore from worksheet) Interpretation
0-40 Indicates severe financial insecurity and inability to meet financial obligations.
40-50 Reflects financial struggles and limited control over finances.
50-70 Represents some financial stability but ongoing worries.
70-90 Shows strong financial security and freedom to enjoy life.
90-100 Demonstrates excellent financial well-being and confidence.

Assessments Similar to CFPB Financial Well Being Scale

  • Consumer Financial Well-Being Index
  • Financial Wellness Assessment Tool
  • Personal Financial Health Scale
  • Financial Well-Being Measurement
  • Financial Wellness Index
  • Money Management Scorecard

Here are some FAQs and additional information
on
CFPB Financial Well Being Scale

What is the CFPB Financial Well Being Scale?

It’s a standardized questionnaire developed by the Consumer Financial Protection Bureau (CFPB) to measure overall financial well-being.

Who created it?

The scale was created and validated by the CFPB, a U.S. government agency dedicated to protecting consumers in financial markets.

What does it measure?

It assesses not just income or assets but also confidence, security, and the ability to meet present and future financial obligations.

How can advisors use it?

Advisors use the scale to benchmark a client’s financial well-being and to design tailored financial strategies.

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