What is financial wellbeing?
People who can confidently manage their money and plan their spend are financially well.
Being in control of what you spend, save, borrow and plan for means you’re well positioned to:
- Pay bills on time and spend within your means
- Deal with unexpected expenses, like a boiler breakdown
- Handle your borrowings comfortably
- Plan for and meet your long-term goals
The Financial Wellbeing Index is designed to help you assess how well prepared you are to meet your financial needs by providing a moment-in-time snapshot of your financial wellbeing. The score is based on eight multiple-choice survey questions that correspond to the Center for Financial Services Innovation (CFSI’s) indicators of financial health which align with four components -Spend, Save, Borrow, Plan.
Every user who responds to the eight questions in the Financial Wellbeing Index will receive a Financial Wellbeing score between 0 and 100. Financial Wellbeing scores from 0-39 are considered “Struggling” scores from 40-59 are considered “Stretched” scores from 60-79 are considered “Managing” scores from 80-100 are considered “Thriving”.
The result enables you to take stock of your financial situation, and think about managing your money more effectively. Whatever category you find yourself in, we have the knowledge and resources to help you to improve.
Youth Financial Literacy Commitment
Our Youth Financial Literacy programme is an education initiative available to every primary and secondary school across Ireland. Find out more about Youth Financial Literacy
Business Financial Wellbeing
We provide useful information on financial wellbeing to hundreds of business customers through our annual National Enterprise Week and Enterprise Town Awards.
You’ll also find positive wellbeing information, resources and guidance at bankofireland.com/businessfinancialwellbeing, our website for Irish business owners and managers. It’s a hub of practical and actionable information on starting, growing and running a business. You can take a healthcheck for your business now on bankofireland.com/businessfinancialwellbeing