The FinStrong financial education program is founded on research-based financial principles designed to help you identify what you value most.  From there you will be guided through time-proven personal financial principles that will help you make financial decisions tailored to your values.

 

Values-based Financial Decisions

Budgets. Restrictive, headache-inducing things — and with good reason! But only because most people approach budgets the wrong way. Instead of a frustrating and tedious exercise, a budget should be a tool that actually aligns your finances with your priorities.

We call this approach values-based budgeting, and when implemented it can make your budget logical, sustainable, and even fun. It’s also easy to start if you follow our six steps for either updating a current budget or developing a new budget.

If your values represent the most important things in your life, starting with values will give you the WHY for engaging in good financial behavior. It’s simple, really. When you understand and apply the principles we’re about to show you, everything else just falls into place. 

 

Your FinStrong Score

Your FinStrong Score is a representation of your current financial wellness.  FinStrong will guide you through a self-assessment of how well you are:

  1. Organizing and automating your finances with your values in mind.  Do you use tools to help organize your finances and track your spending?  Does your spending align with your values?

  2. Stockpiling finances by becoming a rockstar saver.  Do you have an emergency savings fund?  Do you have specific savings goals that align with your values?

  3. Taking charge of your debt by understanding it and paying it off.  Are there good types of debt and bad types of debt?  How does interest work?  Do I have a plan in place for paying my debts off?  What debts should I pay off first?

  4. Share what you know and have learned with those around you.  Do you take time to help others?  Have you shared your financial progress with someone you trust?

  5. Seek wisdom by knowing how personal finances work.  Know your credit score and what goes into it.  Do you know your credit score?  What is good credit?  What is bad credit?  Are there different types of credit scores?  What goes into calculating my credit score?  Do you have sufficient insurance to protect yourself financially?


Credit Score Education

RentPlus is committed to helping our customers to become financial strong, financially smart, and financially prepared.  We have found that when we talk to people about how RentPlus can improve your credit score that most people don't know what their credit score is or understand what goes into calculating their credit score.

FinStrong will walk you through the details of credit scores.  What types of credit scores exist, what are the credit score ranges, and what goes into calculating a credit score. 

The five factors that determine an individuals credit score and how much weight each factor carries are as follows:

  1. Payment History - 35%
  2. Amounts Owed - 30%
  3. Length of Credit History - 15%
  4. Types of Credit In Use - 10%
  5. New Credit - 10%