Lifestyle

How to Measure Financial Well-Being (and Why It’s Worth It)

Published

5 years ago

August 7, 2020

One of the most challenging aspects of managing money is figuring out where you stand financially. After all, there’s nobody looking over your shoulder telling you whether the decisions you make are right or wrong. It helps to first have a framework for measuring your financial well-being — sort of like a report card.

The point of measuring your financial well-being against benchmarks is to help you get a sense of where you stand — and what actions you could take to bring yourself closer to your goals.

Here’s more on how to evaluate your financial standing and why it’s worth it to do so periodically.

Try the Consumer Financial Protection Bureau Well-Being Scale

The CFPB has actually developed a scale to help consumers assess their financial situations. Users answer sets of questions to determine where they fall on the scale, then add up the point values of their responses to get an overall “financial well-being score.” Users can then compare their scores to U.S. averages, as well as access resources on common topics — like tracking expenses, dealing with debt, saving and investing.

From these questions we begin to see some of the categories that define financial well-being, like:

The ability to cover a large unanticipated expense without going into debt.
Having money left over at the end of the month.
The degree to which finances control your life and choices.
Having room in your budget to cover variable expenses (like gifts for special occasions).
Staying on top of bills and financial decisions rather than falling behind.
Planning for the future, as well as managing money in the present.

If you’re short on time, you can fill out an abbreviated version of this scale to get a general feel for where you stand. If you’d like to take a more in-depth look, there’s a standard version with more questions.

According to the CFPB, financial well-being encompasses:

Net Worth: A Broad Look at Financial Well-Being

Perhaps the quickest and most straightforward way to evaluate financial well-being at a glance is calculating your net worth.

1. Tally up the value of your assets — like savings accounts, investments, vehicles, etc.

2. Tally up the total amount of your liabilities — like credit cards, mortgages, other loans, etc.

3. Subtract the liabilities from the assets.

These days, you can even plug these values into a simple net worth calculator rather than doing the math by hand.

Improving Your Financial Well-Being

It can be quite frustrating to find your financial well-being currently falls short of where you’d like it to be. However, getting an honest feel for where you stand today is the first step toward attaining your ideal financial future; it will help you set realistic goals and measure your progress.

Here’s an example: Many people exist in debt denial. They know they owe money, but avoid sitting down and looking at exactly how much — let alone planning how to repay it. Assessing their financial well-being could be the push they need to finally take an honest look at their budget and debts. After figuring out where they stand, someone in this situation may decide to speak with a credit counselor who then helps them get enrolled in debt relief management. Under a debt management plan (DMP), the person is able to consolidate their debts through the agency and pay what they owe over the course of three to five years at reduced interest.

According to Michigan State University, there are four general behaviors which support financial well-being:

Living within your means by actively managing your money.
Conducting research and gaining knowledge about financial decisions.
Setting realistic goals and planning for the future.
Following through on all three aforementioned behaviors over time.

Measuring financial well-being means checking in across various aspects of money management, which is why it’s a good practice for anyone and everyone. Only by understanding where you stand today can you set goals and make effective decisions for tomorrow.

Lifestyle

Donnette Russell-Love on How Policy Changes Are Reshaping the Immigrant Experience in America

Published

2 hours ago

January 16, 2026

Michelle Langton

What happens when the rules for chasing the American dream keep changing? For millions of immigrants, the answer is anxiety, confusion, and a constant fight to stay one step ahead of shifting policies that can decide their future overnight.

This is the reality that Donnette Russell-Love, attorney and CEO of Immigration Care Service, faces every day. With a career built on both courtroom experience and compassionate advocacy, she has become a steady guide for individuals and families navigating one of the most unpredictable legal systems in the world.

A Changing Landscape

Over the years, U.S. immigration policy has shifted from being opportunity-driven to increasingly restrictive. Donnette Russell-Love has seen how these changes have reshaped not only the process but also how immigrants are perceived. She believes that leadership plays a major role in setting the tone; each administration influences whether the focus lies on inclusion, enforcement, or deterrence.

Under the current administration, the path to the American dream has become much narrower. There has been a stronger push to limit humanitarian provisions for people fleeing unstable conditions, less tolerance for long-term immigrants with even minor offenses from years ago, and growing efforts to challenge birthright citizenship.

These policies reflect a clear shift in how the United States approaches immigration. For many of her clients, the rules that once offered hope now feel like walls. Yet, her mission remains the same: to help them find a way through, one informed decision at a time.

Guiding Clients Through Constant Change

In an environment where laws and regulations can change faster than people can adapt, Donnette’s approach is built on preparation. She doesn’t just focus on forms and paperwork; she focuses on context. Her process starts with understanding each client’s story, background, and long-term goals. From there, she helps them see not just what’s required legally, but what’s likely to be asked, reviewed, or challenged along the way.

For her, education is the most powerful defense. She believes that informed clients are stronger, calmer, and more confident when facing interviews or hearings. She spends time explaining how new rules apply to their situations and how small details, like old records, travel history, or documentation, can make all the difference.

Her deep understanding of immigration stems not only from her legal training but also from her background in compliance and risk management. These skills have shaped her proactive style, allowing her to anticipate potential issues before they arise. Instead of reacting to policy shifts, she prepares her clients to adapt to them.

Leadership That Balances Law and Humanity

Running a law firm in such a turbulent field requires discipline, empathy, and vision, qualities that Donnette has cultivated over years of leadership. As the head of Immigration Care Service, she manages the balance between legal precision and genuine human care. Her team works closely with clients from diverse backgrounds, ensuring they receive not only sound legal guidance but also emotional support during uncertain times.

She also emphasizes the importance of staying grounded. Her philosophy is that immigration law is not just about policies or procedures, it’s about people. Every case represents a life story, a dream, or a second chance. And while the system may grow more rigid, her role is to help clients see that persistence and preparation can still lead to opportunity.

Moving Forward with Purpose

For Donnette Russell-Love, the work doesn’t end with one case or one victory. It’s about helping her clients understand the bigger picture, that success in immigration is not only about following rules, but about knowing how to navigate them with clarity and confidence.

She recognizes that the path to legal residency or citizenship is harder now than ever before. But her message is one of resilience: knowledge and preparation still open doors.

In a time when immigration policies seem to shift with every election cycle, Donnette’s approach stands out for its steadiness and humanity. She reminds her clients and the broader community that while laws may change, the pursuit of hope, belonging, and a better life remains constant. And with the right guidance, that pursuit is still worth every effort.