The Where You’re At Money Score™

Our Money Score Beta test is complete. Your feedback on this online tool has been invaluable and will be used to inform our next steps in providing members with resources to improve their financial well-being.

You've been given exclusive access to The Where You're At Money Score™.

You've been chosen to be part of a small group of Coast Capital members with early access to the beta version of The Where You're At Money Score. It's our new tool that'll give you a sense of your overall financial situation, plus ways to improve it.

Why a Money Score?

At Coast Capital, we want to help you achieve what’s important in your life. And to do that, we believe you need to understand your current financial situation through this Money Score. If your finances are in order, then you’ll be in good shape to achieve what’s important to you.

Why me?

We value your opinion and want you and other members to be part of shaping this exciting new tool. We’ll use your feedback to make the Where You’re At Money Score even better and more useful for future Coast Capital members to reach the goals that are most important to them. Whether it’s saving for a first house, retiring in Palm Springs, or anything in between, we want to get you there.

What now?

We know the tool isn’t perfect yet, as we’re just getting started. Each time you use the tool, we want your feedback on what works… and what doesn’t. Don’t be shy. You’ll be prompted to give us your feedback at the end of every session.

To find out what updates we’re making and what’s new with the Where You’re At Money Score, keep checking this webpage. It’s our way of sharing our news about the tool with you.

Important note.

The Where You’re At Money Score is an indicator of your financial well-being and your ability to achieve what’s important in your life. It’s not intended to be a replacement for personal financial advice from a professional. If you need a hand planning your finances, or if you’re contemplating a significant financial decision, give our accredited financial team a shout.

How the Money Score works.

First, you’ll be asked a simple set of questions. Next, you’ll complete a Financial Snapshot to make sure we have all the information we need to give you the most accurate score and recommendations.

The Money Score looks at three important categories. Your day-to-day finances, your emergency savings situation, and your retirement readiness.

How your score is calculated.

Your score will be broken down into each of the following equally weighted categories, totaling 100 points.

  • Everyday Management (33.3 points) – do you have more money coming in than going out of your day-to-day accounts?
  • Rainy Day Ready (33.3 points) – Do you have at least 6 months’ worth of estimated income saved up, just in case?
  • Future Prepared (33.3 points) – Are you on track to have what you need saved up for retirement?

Recommendations (and what to do with them)

We’ll also suggest ways to improve your Money Score in each of the three categories. If you’re crushing your everyday management but maybe aren’t as rainy-day ready as you’d like, we’ll give you suggestions to enhance both. We believe financial well-being is an ongoing journey, and not an end-state.

You can download and print a PDF report of your Money Score and recommendations from the Money Score Dashboard. We’re in this together.

Frequently Asked Questions

Device Information

A: We’re still in Beta mode, which means it’s not quite ready for your tablet or phone… yet. This update is planned for September 2018. When the Money Score is available to all members, it will be easily accessible within the menus of the mobile app and website. For now, please use your desktop or laptop to access the tool and find out your Money Score.
A: If you click the access link from a tablet or phone the Money Score tool will not display properly. If you bookmark it by mistake it will not allow you to open the tool. We recommend going back to your laptop or desktop, bookmarking it there, and checking back every month.
Overall Calculation
A: The Money Score will be updated on a monthly basis and a new score calculated and available to view by the fifth day of the following month.
A: You’ll find the link to your Money Score through a message you would have received in Online Banking. You may also have received an email from us with a link. As the Money Score is still in beta testing, only those with the link can access the tool.
A: Your Money Score measurement will typically be based on the last 12 months of account activity. If you’re a new member, the measurement will be based on whatever data is available on record.
Account Information

A: The following products are included as Savings in ‘Rainy Day Ready’:

  • Non-Registered Savings
  • Non-Registered GIC
  • Non-Registered Term Deposit
  • TFSA Term Deposit

A: The following products are included as assets in ‘Future Prepared’:

  • Anything under an RRSP plan
  • Anything under an RESP plan
  • Anything under an RRIF plan
  • Mutual Funds in Registered (including TFSA) and Non-Registered plans
A: For now, only accounts used for the ‘Future Prepaid’ calculation can be excluded. This includes things like RRSP, RESP, RRIF, or Mutual Funds in Registered and Non-Registered plans (e.g.: TFSA). Future releases of the Money Score will allow any account to be excluded from the calculation.
A: Any joint personal non-registered saving and chequing accounts will be included as part of the ‘Everyday Management’ calculation; however the average net cash amount that is calculated will be divided evenly by the number of account holders for the specified joint account. For example, if you have a joint chequing account with an average net cash amount of $500, then only half of that amount ($250) will be applied to your ‘Everyday Management’ calculation.
Score Information
A: When payments are made to a credit card, the payment amount is part of the outflow (spend) in the ‘Everyday Management’ calculation. Any outstanding credit card balances are counted as a liability in the Future Ready calculation.
A: Kudos on your high score. While you might be in good shape now, it’s important to remember that the Money Score is just a snapshot of your current financial situation and as time passes by, the requirements also change. We recommend having regular check-ups with a financial expert to make sure you’re on track to reaching your evolving financial goals.
A: There is a printable report that will have your recommendations listed. These recommendations will be available until a new set of recommendations have been provided.
Use of Information
A: When you click to view your Money Score, you are receiving a guarantee that Coast Capital is not going to disclose the information to anyone other than you. All actions and recommendations made to help you hit your financial goals are exactly that: helpful and specifically aimed at building financial readiness and long-term wellbeing.
Future Releases
A: Stay tuned for more details. We’ll update you as soon as a new release is available.