1- The FitBUX Financial Profile (5)
Yes, we encourage it in fact.
There are multiple benefits to creating a FitBUX profile:
1) You’ll create a complete snapshot of your current financial situation, inclusive of your Human Capital assets,
2) You will obtain your FitBUX Score and be able to track it in real time, for free, and
3) You will get access to our proprietary financial tools. With these, you’ll be able to forecast the impact of potential decisions on your overall financial health, today and in the future.
2- The FitBUX Score (3)
The FitBUX Score is a number between 0 and 1,000. It summarizes your current financial health in an easy to understand number.
Your FitBUX Score, based on our proprietary algorithm, uses factors such as personal achievements, past and current earnings, as well as earnings potential. It takes an individual’s past, present, and future into account. We consider the ENTIRE YOU.
No, it is much more than a credit score.
Traditional credit scores mostly assess an individual’s history to make decisions which will impact this individual’s future, sometimes for many many years: have you paid you bills on time over the last n years? What is your average credit card balance? This means decisions are made looking in the rearview mirror only.
With the FitBUX Score, we’re incorporating not just historical data but also information about your education, profession and other Human Capital variables to forecast your overall potential and what it means for your financial health today and in the future.
The FitBUX Score helps individuals make critical decisions looking at the past, present, and future. That’s a big deal.
All FitBUX Scores are “good”. Your FitBUX Score clearly indicates where you are at today and what actions you can take to further increase your score. In general, a FitBUX Score of 500 corresponds to an individual and/or individual and spouse’s financial health being average at this point in time.
If, for example, you are above a 700 today, you are in good financial health and your FitBUX Score will illustrate what you can do to maintain and further improve your financial health. For example, if you are trying to decide to aggressively pay off your students loans or invest, which do you choose?
If, for example, you are at 500 today, your FitBUX Score will help you understand why and also what are the things you can do to increase your score. Let’s say that you have significant student loans. This simply means you have added risk to your financial profile and this will be reflected in your FitBUX Score. Your Score then can be used to help you formulate a strategy which you can implement.t over time to increase your score and track your progress by watching your score improve over time.
3- FitBUX (3)
Our pilot program is currently underway and we’re adding new users daily. If you’re interested in joining our pilot program and want to help us make our online platform even better, simply send us an email here.
As part of our pilot program, you will get direct access to our team. We will:
- Work hand in hand with you to create your FitBUX Complete Financial Profile,
- Review your FitBUX Score,
- Give you access to our proprietary tools, and
- Help you craft different strategies to manage your student loans based on your personal situation.
Drop us a line now, you’ll be glad you did!
FitBUX’s Income Share Agreement combines the best of a traditional income share agreement with valuable features of both fixed rate loans and variable rate loans. Here is how:
- Like a traditional Income Share Agreement, repayment amounts are set as a percentage of your earnings,
- Similar to a variable rate loan, your payment may vary in actual dollars. However, this fluctuation is based on your own earnings, not an arbitrary rate set by bankers, and
- Similar to a fixed rate loan, there is a set amount you agree to repay. However, this amount is based on your own success and potential success, not simply a score issued by a credit bureau and a decision made by an old school financial institution.
To learn more about this product, please visit isa.fitbux.com
Human Capital is defined as “the collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or their community”.
Human capital is a very valuable asset when considering one’s overall financial picture. However, it’s largely ignored financial institutions.
By taking into account one’s Human Capital, we’ve created the first truly complete financial profile, The FitBUX Financial Profile, summarized by the FitBUX Score.