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. A FitBUX Score can range to 0 to 1,000 and, in general, a FitBUX Score of 500 corresponds to an individual and/or a couple’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 student loans or invest, which do you choose?
If, for example, you are at/below 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 over time to increase your Score.
Regardless of your Score today, you can (and should!) track your progress by watching your score improve over time by updating your FitBUX profile anytime would like to.
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.
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.