This tool helps you understand your financial health by assessing your savings, debt, and income. It also simulates the impact of potential financial shocks, such as market downturns or job loss, to give you a comprehensive view of your financial stability.
Step-by-Step Guide
Input your financial details: Enter your monthly income, expenses, savings, debt, and retirement savings.
Choose a financial shock: Select from different scenarios like market downturns, medical emergencies, or job loss.
Run the Stress Test: Click the button to simulate the stress test and see how your finances may be impacted.
Review your results: The tool will show you how your savings, debt, and retirement will change based on the scenario, along with your overall financial health score.
Understanding Your Financial Health Score
Your Financial Health Score is a measure of your financial stability, calculated by considering your savings and debt levels in relation to your income. The score ranges from 0 to 100, with a higher score indicating better financial health.
Your score will be displayed as:Your Financial Health Score is XX out of 100.
