The Consumer Financial Protection Bureau (CFPB) released a tool to measure consumer financial well-being, based on a definition that the Bureau released in January 2015. The tool, available in both 5- and 10-question versions, allows practitioners and researchers to quantify the extent to which consumers’ financial situations and the financial capability that they have developed provide them with security and freedom of choice.
Copies of the Financial Well-Being Questionnaire and User Guide are available from the CFPB.
Researchers from the Center for Financial Security contributed to the scale, along with a team of research contractors led by the Corporation for Enterprise Development (CFED) that included the Urban Institute, ICF International, and Vector Psychometric Group.
University of Wisconsin-Madison Center for Financial Security 