Financially healthy: All-star status
What does this mean: If your score is between 80-100, then you are in the “Financially Healthy” category. Congratulations! You likely have sufficient savings, a good credit score, and spend less than you make.
This is an outline of what the 'Wellness Score' measures:
The NHS recommend scoring between 18.5 – 24.5 on the BMI scale. If you score any higher than this you have an increased risk of some of the biggest killers around including diabetes, obesity related conditions, heart disease and cancer.
The financial well-being score provides a common metric that allows a comparison of financial well-being across people and over time. The financial well-being scale is a free tool to help you measure the financial well-being of people you serve.
You'll get a financial wellbeing score of between 1 and 100. This will help you to determine if financially you're having trouble, simply getting by, comfortable, or in a good position. You'll also receive some simple steps to improve your financial wellbeing.
Most people have a score between 41 and 59. You can maintain your mental well-being by taking action today. There are five evidence-based steps we can all take to improve our mental wellbeing.
670 to 739: Good Credit Score
Lenders generally view those with credit scores of 670 and up as acceptable or lower-risk borrowers.
A perfect score of 850 will give you bragging rights, but any score of 800 or up is considered exceptional and will usually give you access to the best rates on credit cards, auto loans, and any other loans.
It's not just about how much you earn but how you manage and think about your finances. Achieving financial wellness means you're not constantly stressed about money. Instead, you have a clear understanding and a sound plan for managing it.
Financially stable individuals typically have clearly defined financial goals, regularly invest, have the right insurance coverage, make decisions based on their own needs vs.
Your Wellness Score consists of six key aspects: Food, Fitness, Happiness, DNA, GP services and Health Records. In the middle of these six segments is a score out of 100 – this is your Wellness Score.
From 30 to 0 on the Wellness Scale, the medical profession awaits. This is where the MD's work the best and this is the level of health they promote. Their reality is firmly fixed here.
Typically, anything above 70% is considered a good customer satisfaction score, while a less-desirable score is anything below 50%.
The ranges for the health score ratings are: Weak: 0-30. Fair: 31-70. Good: 71-90.
A, A- Excellent Assigned to companies that have, in our opinion, an excellent ability to meet their ongoing insurance obligations. B++, B+ Good Assigned to companies that have, in our opinion, a good ability to meet their ongoing insurance obligations.
In general, you should consider yourself financially healthy if you can keep up with your bills and debt, have money set aside for emergencies, and have enough extra cash to plan for future expenses, such as college and retirement.
As we look at ways to evaluate and improve our broader financial wellbeing, we can focus on three pillars of financial landscape: saving, spending, and security.
Financial wellness is a state of financial well-being in which you can comfortably manage your bills and expenses, pay your debts, weather unexpected financial emergencies and plan for long-term financial goals such as building college funds and saving for retirement.
Since income is not one of the five factors that determine a credit score, the wealthy are just as likely to have a low credit score as the people with lower income. The rich can miss payments, rely too heavily on credit, and open too many new accounts, all of which may lower their credit score.
750 to 850 Excellent
You're golden! Credit scores in this range will open up the best interest rates, prime rates or lower, and the best repayment terms for loans. If you're interested in making a major purchase, such as an investment property, this credit score range is where you want to be!
The average FICO credit score in the US is 717, according to the latest FICO data. The average VantageScore is 701 as of January 2024.
They may differ by 20 to 25 points, and in some cases even more. When Credit Karma users see their credit score details, they are viewing a VantageScore, not the FICO score that the majority of lenders use. A VantageScore has the same credit score range as FICO, and uses some of the same information as a FICO score.
There's no single, specific credit score that will automatically qualify you for a mortgage (though having the maximum score of 850 certainly never hurts). However, while lenders might not set precise qualifying numbers, they do have minimum credit score requirements.