Explore your Financial Health

A relatively new term in the financial inclusion community, financial health is a model for assessing how well one’s daily financial systems enable a person or household to build resilience to shocks and pursue opportunities and dreams. Whether rural or urban, in countries both developed and developing, individuals share a common aspiration for financial health.

Over the course of 2016, CFI collaborated with the Center for Financial Services Innovation (CFSI), which developed and applied the financial health concept in the United States and Dalberg’s Design Impact Group (DIG) to adapt CFSI’s U.S.-based financial health framework to a developing country, BOP context.. You can see the resulting framework in the report, Beyond Financial Inclusion: Financial Health as a Global Framework.

We encourage you to use the Financial Health Survey Guide after you finish the survey to better understand your results.

No names are used in this survey, so it is anonymous. We kindly ask you to fill out the demographic information to benefit the analysis, but respect your decision to maintain anonymity if you prefer. This survey has been adapted from CFSI's Financial Health Survey.

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1. What is your age?

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2. Which of the following applies to your current residence?

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3. What is your gender?

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4. How would you define your financial decision making unit?

Spend

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5. Over the past year, how would you describe your spending patterns relative to income and expenses?

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6. Over the past year, which of the following statements best describes how well your household is keeping up with your bills and credit card payments?

Save

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7. How many months would you be able to live off of your savings? Please exclude savings that are set aside in retirement accounts or the sale of assets. Consider basic monthly expenses such as housing, food, taxes, and healthcare.

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8. Consider a long-term financial goal you have (ex. buying a house, starting a business, having enough money to retire). How confident are you that you could reach these goals in the time frame that you hope to achieve them?

Borrow

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9. As of today, how would you describe the debt your household currently has? Please consider money owed on bank loans, student loans, mortgages, medical debt, past-due utilities, etc., money owed to friends and family, and any credit card balances you carried over from the previous month.

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10. What types of debt do you currently carry? Select all that apply

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11. What percentage of your monthly income goes to your debt payments? Please consider money owed on bank loans, mortgages, student loans, medical debt, past-due utilities, etc., money owed to friends and family, and any credit card balances you carried over from the previous month.

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12. What is your household’s credit score?  (You can use this guide as a reference if you are unsure how to rate your credit score)

Plan

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13. Do you take steps to maintain or improve your credit score?

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14. How far in advance does your household plan for upcoming financial obligations or opportunities? (for example, annual bills, life events such as weddings, large purchases, etc.)

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15. What tools do you use to plan? Examples: Financial planners, financial planning websites such as Mint, Online budgeting tool or app, resources from your bank, etc.

Overall Preparedness and Confidence

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16. How confident are you that the insurance policies your household owns will provide you with enough support in case of an emergency? Please consider your health insurance, home/rental insurance, life insurance and disability insurance.

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17. How possible would it be for your household to come up with $3000 in the next month to deal with an emergency?

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18. What would the source of this money be?

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19. How strongly do you agree with the following statement?
My financial reality allows me to achieve the lifestyle I want.

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20. What are the most important longer term goals you are currently working towards? (Select up to 3)

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21. Which of the following would you like to achieve in the next year? Select up to 3

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22. How would you rate your understanding of financial health as a concept?

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23. Do you think that financial health is a useful lens through which to think of finances?

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24. Would you be interested in tools to help you with the goals you selected? If so, which of the following would you be most interested in? Select all that apply

 
 100% of survey complete.

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