Financial Health Check

The Financial Health Check calculates an overall score based on four key indicators: savings rate, housing cost ratio, fixed expense ratio, and food cost ratio. Each indicator is evaluated against the recommended ratio from general financial planning guidelines. Improvement suggestions are provided alongside the score, so focus on understanding the balance of your overall spending structure rather than fixating on the number alone.

Savings rate decreases when fixed expenses (housing, insurance, subscriptions) take a large share of take-home pay, or when discretionary spending (hobbies, dining, clothing) is excessive. Reducing housing costs is generally the most impactful lever for improving savings rate. The recommended approach is to audit fixed expenses first, then make incremental adjustments to variable spending.

The score is the combined result of evaluating four items — savings rate, housing costs, fixed expenses, and food costs. There are six grade levels: A+ (90+), A (75–89), B+ (60–74), B (45–59), C (30–44), and D (below 30). Rather than focusing on the overall score alone, identify which items scored lower and prioritize improvements in those areas.

Yes. Entering just your main fixed items — housing, food, transport, and telecom — is enough for a basic diagnosis. You don't need to fill in every category; any field left blank is treated as disposable income. To improve diagnostic accuracy, reviewing your card statements or bank transaction history to identify actual spending by category is the recommended approach.

Adjusting each expense slider updates your score in real time. Identify which of the four areas — savings rate, housing cost, fixed expenses, or food — is pulling your score down the most, then nudge that slider lower to see how close you can get to your target grade. Targeting the single highest-impact area first makes for the most practical improvement path.

The savings rate needed for retirement varies widely by age, target retirement date, and expected living costs. General financial planning principles emphasize maintaining a consistently high savings-to-income ratio and stress that starting earlier is significantly more advantageous due to compound interest. A practical framework is to first understand your expected income from the National Pension, occupational pension, and personal pension schemes, then supplement any shortfall with personal savings.

All four indicators — savings rate, housing cost, fixed expenses, and food — carry equal weight, each worth up to 25 points. Their combined total makes up the 100-point financial health score. Adjusting the savings slider tends to produce the most immediate change in the grade card, so it is a good place to start. If your housing cost exceeds the guideline threshold, check how the gauge responds when you adjust that slider as well.

In Korea, certified financial planners (CFP) can be found through the Financial Planning Association of Korea (FPAK) and the Korea FP Association. The Korea Inclusive Finance Agency and regional financial support centers offer free financial counseling services. Banks, securities firms, and insurers also provide wealth management consultations, though it is worth checking whether advice is tied to product sales. Choosing an independent, fee-only financial planner generally provides more impartial guidance.