Applicability of the Financial Health Scores Index

Financial decision-making is defined as the act of performing financial activities in the most appropriate way in order to evaluate the investments of individuals or companies. Individuals have begun to need a certain level of financial education to maintain their daily lives. With these needs, concepts such as financial awareness, financial literacy and financial health have emerged. The concept of financial health is a current concept. The importance of the concept of financial health has become more evident in the Covid-19 process. In this process, the financial health levels of individuals whose incomes decreased began to decline. From this point of view, the aim of the study is; to reach information about their financial status by determining the financial health scores of individuals. In the study, Financial Health Index Model (FHIM) developed by the members of Gümüşhane University Accounting-Finance Department was used. Gümüşhane University employees were included in the scope of the study. The data used in the model were collected with the OECD/INFE Financial Literacy Scale. In the study, the data of a total of 283 employees were analyzed and adapted to the model. As a result of the study, the average financial health scores of individuals working at Gümüşhane University were determined as 64,1432. This score is in the high score range above the average score. The model used in the study can be used as an important index value, especially in determining the services that banks will offer to individual customers. In addition, the model of the study can be used to determine the level of financial education that individuals will receive. It is expected that FSEM will make an important contribution to the literature.