Frequently Asked Questions

What does financial resilience mean?

Financial resilience is about being able to bounce back from unexpected life events and financial setbacks job loss, medical bills, or economic downturns while making progress towards your short, medium and longer-term life and financial goals. You can explore comprehensive information and definitions on financial, health, financial resilience and financial wellness here.

Your financial resilience is assessed across nine behavioural, sentiment and resilience indicators based on our proprietary Index, which builds on over nine years of robust data. Learn more about the Seymour Financial Resilience Index® and access free independent reports published by our non-profit organization.

What does my score mean?

Your score reflects your current financial resilience based on the unique Seymour Financial Resilience Index ®. Peer-reviewed and updated every four months, this Index draws on over eight years of national data, ensuring your score is contextualized against a real Index and similar Canadians. Scores range from ‘Extremely Vulnerable’ (0-30) to ‘Financially Resilient’ (70.01-100). Income alone doesn’t determine resilience; your behaviors matter. For example, a person with a household income over $100,000 could be ‘Financially Vulnerable’ while another person with a household income under $50,000 could be ‘Financially Resilient’. This could be as result of their healthy financial behaviours, such as saving or planning ahead financially, or because they have a close family member they can turn in times of financial hardship.

What is My Financial Resilience Score Tool?

This free, unbiased tool helps you to understand your financial resilience and how you compare to your peers if you live in Canada. It’s being provided with no hidden agenda or targeted product or sales marketing. Our hope it that by understanding your financial resilience better, this can help you identify one more small ways you can maintain or improve your financial resilience over time, knowing this is your journey. This in turn can support your and your family’s overall resilience, financial and overall well-being.

Is the tool free to use?

Yes, the ‘lite’ version is entirely free and available for everyone. Future ‘paid-for’ versions, if introduced by Financial Resilience Institute, will contribute to our nonprofit’s research and work for Canadians and those who are more financially vulnerable. Stay informed by contacting us at [email protected].

Who is the tool designed for?

Primarily for adult Canadian decision-makers, the tool suits the three quarters of people who are not ‘Financially Resilient,’ and that are interested and committed in understanding their financial resilience and how they can improve it. It is most relevant for adults aged 25 to 65 years old experiencing life or financial decisions. While global users are welcome, certain groups, such as newcomers or those with low incomes, may find the tool less relevant as a result of their unique needs, barriers or challenges.

Is the tool available Internationally?

Yes, the tool is accessible worldwide, providing Canadians with country-specific comparisons. International users can access their financial resilience summary but won’t get comparisons on their score compared to peers at this time. Consider seeking relevant financial well-being resources in your country.

How often is the benchmark data updated?

Benchmark data updates every four months, offering timely insights into your standing compared to similar Canadians.

Is the information private?

Absolutely. The tool is anonymous, respecting your privacy. No personal information is collected and the Institute is not analyzing or using the results data. Refer to our Privacy Policy for more details.

What happens after I get my financial resilience score?

Explore free ‘thought starter’ articles, tools and articles within this website and through other resources. We provide information, not advice, respecting your autonomy in financial decisions.

I'm 'Extremely Vulnerable.' What should I do?

Understanding your financial resilience score is the first step. If you are more financially challenged, you are not alone, and there are ways that you can work to maintain or improve your financial resilience score over time. Resources and support from various organizations, including governments and employers, can be valuable. Explore our free materials and reach out to appropriate organizations, such as your financial institutions, for help or guidance.

I'm 'Financially Resilient.' What now?

While a positive outcome, financial resilience is an ongoing journey. Continue your efforts and be aware that circumstances may change. Regularly check your financial score if you want to and adjust as needed.

Why are there no ‘action steps’ or advice recommendations?

This free tool is centered more around giving you your financial resilience score as opposed to ‘next best steps’ or action items linked to it. As a non-profit organization that are experts in financial resilience measurement but not in financial products, services or advice. Your financial decisions and actions are up to you and people have unique needs, circumstances or barriers. This self-serve tool can be complemented with resources or advice right for you available from other organizations.

Can I download my score results or share my score with others?

This free tool is just for you – you can take a picture of your results and share with your friends, but it’s been designed just with you in mind. For more information review our Privacy Policy.

Has this tool been designed from an accessibility perspective?

Efforts have been made so this tool is accessible, but we acknowledge there may be accessibility limitations. We aim to improve accessibility of the tool over time. The desktop version of the tool may be more accessible for people to use compared to the mobile version.

What are the benefits of checking my score more than once?

Regular checks of your financial resilience score can help you track changes as a result of life events or behavioral changes. You can check your score as often as you like.

Important Notice

The information in this tool and on this website isn’t intended and should not be relied upon as professional or personal financial product advice. You should seek professional advice before making any decisions that could affect your financial resilience or financial health.