Measure financial well-being in your workplace
Employers who want to improve the financial well-being of their workforce can use the financial well-being questionnaire to measure progress.
The free questionnaire provides a common metric that allows a comparison of financial well-being across people and over time. Changes in scores can demonstrate the value of your financial wellness programs, benefits, and tools to the organization.
The financial well-being scale was developed and rigorously tested by the CFPB. It is made up of 10 questions to capture how people feel about their financial security and financial freedom of choice, plus two questions to assist with scoring. Responses to the questions can be converted into an overall financial well-being “score” between 0 and 100.
Understand financial well-being
Financial well-being toolkit
Our toolkit provides in-depth information about what financial well-being is, how to measure and interpret it, and how to use the scale in your work.
Measuring financial well-being guide
Our guide provides detailed information on how you can strategically incorporate the scale in your organization and how to use the scoring worksheet.
Watch our webinar on financial well-being in the workplace.
Administer the questionnaire
Your workers can complete the questionnaire online, review their score, and save a PDF copy for their records. No data is collected or reported.
Taking the questionnaire independently can be an effective part of a self-service strategy, leading people to take action to improve their financial well-being on their own. Many people find the questions on the scale bring to mind areas they want to improve.
Online through your system
Your organization can offer its own online version of the Financial Well-Being Scale, using our open source code. Your developers can customize it to collect answers and scores.
Anyone may reproduce, publish, or otherwise use the content without the CFPB’s permission. The CFPB logo and the name “Consumer Financial Protection Bureau” are registered trademarks, and they should not be used to imply CFPB endorsement of or connection with an entity or activity.
The 10-item questionnaire and scoring card is available as a downloadable, printable PDF.
Abbreviated PDF version
We offer an abbreviated 5-item questionnaire. The 5-item scale is recommended only for use in combination with another question set – for example, added to a benefits satisfaction survey.
How to use the questionnaire
For the scale to work properly, you must not change the wording of questions or responses and the respondent must answer every question in the questionnaire.
Calculate the total response value
Using the scoring worksheet, add the person’s responses to find the “total response value.”
Convert to a financial well-being score
On part two of the scoring worksheet, locate the total response value in the first column, then follow the row across to the appropriate column based on the respondent’s age group and how the questionnaire was administered.
How to interpret scores
Once you’ve calculated the score for a person, you can use the score to understand their current state of financial well-being and compare the score to the scores of others.
Financial well-being score ranges
Review score ranges and characteristics of people who fall in those ranges.
You can compare your workforce’s scores to other people of a similar age and income. These benchmarks are based on an analysis of the National Financial Well-Being Survey, a large, national survey of adults ages 18 and older in the United States. The survey included the financial well-being scale questions as well as other questions about demographic characteristics, financial situation, financial skill, and behaviors.