frstool 1.0.3

Financial Resilience Score Tool Solution

frstool is a Python toolkit for providing the Financial Resilience Institute’s white-labelled consumer financial resilience scoring, harnessing the Seymour Consulting Index ® and the Institute’s API endpoints.

For more information, please visit:

• Financial Resilience Score
• Financial Resilience Institute
• Indicators and Scoring Model
• Why We Created the Index

Installation

Install package using pypi

pip install frstool

Pypi project page https://pypi.org/project/frstool/

Getting Started

from frstool.apiclient import ApiClient
apiclient = ApiClient(api_key="demokey")

API access is currently open to all Canadians and global citizens for free financial resilience scoring. Please contact [e-mail] for more information around B2B white-labelled solutions for your organization.

Providing Score Tool Questions for Your Users

Collect the Institute’s indicator questions to enable consumer financial resilience scoring:

questions = apiclient.collect_questions()

The result is a list of all questions along with available answer options, with each question formatted as a separate dictionary. For example:

{'id': '1',
  'question': 'Overall, how confident are you that you can get through periods of financial hardship resulting from unplanned events?',
  'answers': [{'text': '1', 'value': 1},
   {'text': '2', 'value': 2},
   {'text': '3', 'value': 3},
   {'text': '4', 'value': 4},
   {'text': '5', 'value': 5},
   {'text': '6', 'value': 6},
   {'text': '7', 'value': 7},
   {'text': '8', 'value': 8},
   {'text': '9', 'value': 9},
   {'text': '10', 'value': 10}],
  'type': 'confidence',
  'extents': ['1 - Not at all confident', '10 - Extremely confident'],
  'title': 'Overall, how confident are you that you can get through periods of financial hardship resulting from unplanned events?',
  'isFirst': True}

Formatting Answers

Format answers as a dictionary using question id as dictionary keys. For example:

{0: {'answer': '10',
  'question': 'Overall, how confident are you that you can get through periods of financial hardship resulting from unplanned events?'}}

For testing purposes, generate a dictionary containing random answers to all of the questions in questionnaire as follows:

answers = apiclient.generate_mock_answers(questions)

Calculating Financial Resilience Scores

Score the answers using calculate_score() method:

scores = apiclient.calculate_score(answers)

Scores will be a dictionary containing financial resilience scores for the questionnaire:

{'index_score': 42,
 'index_score_value_to_compare': 32.87,
 'index_score_result': 28}

Where index_score is the final Resilience Score, index_score_value_to_compare is the mean Resilience Score value for all Canadians whom the Financial Resilience Institute polls and serves as the baseline for comparison, and index_score_result is the percentage difference between final index score and this mean value.

Example

from frstool.apiclient import ApiClient

apiclient = ApiClient(api_key="demokey")
questions = apiclient.collect_questions()
answers = apiclient.generate_mock_answers(questions)
scores = apiclient.calculate_score(answers)

if scores['index_score_result'] > 0:
    print(f"Your score is {scores['index_score']} which is {scores['index_score_result']}% higher than the average score {scores['index_score_value_to_compare']}")
else:
    print(f"Your score is {scores['index_score']} which is {abs(scores['index_score_result'])}% lower than the average score {scores['index_score_value_to_compare']}")

Notes

Seymour Financial Resilience Index ® is a registered trademark used under license by the Financial Resilience Society.
© 2024 Financial Resilience Society DBA Financial Resilience Institute. All rights reserved.

Household categories based on financial resilience scores:

• Extremely Vulnerable: Score of 0 to 30
• Financially Vulnerable: Score of 30.01 to 50
• Approaching Resilience: Score of 50.01 to 70
• Financially Resilient: Score of 70.01 to 100

For more information about index development and scoring methodology, visit Why We Created the Index.