A New Web Site Tool Allows You to Gauge Your Financial "Fitness"

How "financally fit" are you?

Genworth Canada and the Canadian Association of Credit Counselling Services ("CACCS") together have launched an interactive tool to help Canadians gauge what is referred to as “financial fitness.”

According to a jointly issued press release, “This new Financial Fitness Score, the first of its kind in Canada, is available online at www.financialfitness.ca. The score is based on attitudinal and behavioural questions that were developed from financial fitness data collected in a survey sponsored by Genworth Financial Canada and CACCS. The tool helps people determine how well they are managing their finances and provides useful information that is based on their fitness level. “

The release of this tool comes at an opportune time, when many Canadians find that their finances are stretched pretty thin- and are likely to be tested further with costs for everyday goods- like gas and food- rising substantially. Coupled with the knowledge that the cost of borrowing is going to go up as a counter-balance to the rising rate of inflation, Canadians need to put their strategies to work towards affordability in check- and to make sure that their situations are financially fit.

“Having a firm understanding of what it means to manage your money is so important to peace of mind", said Henrietta Ross, Chief Executive Officer of CACCS. "It's quick, easy and free, but so rich in value. Understanding your score and what you can do to improve your situation is very empowering."