Advertisement
credit & debt

Use These Free Tools to Assess Your Financial Health

There's more to managing your finances than just knowing your credit score.

Your credit score is an important indicator of how you’re managing money, but it reflects only a slice of your overall financial health. Now you can generate a score that takes in the big picture.

TOOL: Build a Better Budget

Start by asking whether your bank provides a free financial health score to its customers. For example, USAA offers members a Financial Readiness Score. Just log in at USAA.com and answer a series of questions about your income and expenses, insurance coverage, savings, investing risk tolerance, and estate plan. You’ll receive a score on a scale of 1 to 100, plus advice on how to strengthen weak areas.

Advertisement - Article continues below

Charles Schwab has a free-to-all Financial Fitness Quiz. You’ll be asked to answer 18 questions about insurance, money management, investments and estate planning, and you’ll receive your score on a 100-point scale. You’ll also see a comparison of your score with the scores of other people in your age range and get advice based on your replies.

Among the suite of tools from HelloWallet, a developer of personal finance software, is the Financial Wellness Score. Also calculated on a 100-point scale, it derives from information you enter as well as a data feed from financial links you provide, such as bank, credit and retirement accounts. Recommendations for improvement and a comparison of how you stack up against your peers also come with the score.

Advertisement
Advertisement - Article continues below

HelloWallet has partnered with KeyBank to provide its tools to the bank’s customers. They are also offered as an employee benefit at companies such as Geico, T. Rowe Price, United Technologies and Vanguard.

CALCULATOR: How Much Do You Need to Retire?

Advertisement

Most Popular

12 Tax Deadlines for July 15 (It's Not Just the Due Date for Your Tax Return)
tax deadline

12 Tax Deadlines for July 15 (It's Not Just the Due Date for Your Tax Return)

Between due dates for paying estimated taxes, IRA or HSA contributions, and other deadlines, there's more to do by July 15 than just filing your feder…
July 14, 2020
65 Best Dividend Stocks You Can Count On
stocks

65 Best Dividend Stocks You Can Count On

These 65 Dividend Aristocrats are an elite group of dividend stocks that have reliably increased their annual payouts every year for at least a quarte…
July 8, 2020
Tax Day 2020: When's the Last Day to File Taxes?
tax deadline

Tax Day 2020: When's the Last Day to File Taxes?

Thanks to the coronavirus pandemic, the 2020 tax deadline was pushed back to give taxpayers (and tax preparers) more time to file returns.
July 14, 2020

Recommended

Know Why Your Credit Score Changes: 9 Money Moves to Consider
credit & debt

Know Why Your Credit Score Changes: 9 Money Moves to Consider

Your credit score is a key indicator of your financial well-being and of the risk you pose to lenders. How good is yours?
July 10, 2020
If You're Using Cash Less Often, You're Part of a Trend
Technology

If You're Using Cash Less Often, You're Part of a Trend

The pandemic is speeding up the use of digital payments.
July 2, 2020
The Best Bank Accounts for You
banking

The Best Bank Accounts for You

Kiplinger's contributing editor Lisa Gerstner joins our Your Money's Worth podcast to unveil the best banks for all kinds of savers. Also, our hosts R…
June 30, 2020
The Best Bank for You, 2020
banking

The Best Bank for You, 2020

We've identified the banks and credit unions that offer the best combination of high rates, low fees and a customer-friendly focus.
June 25, 2020