• Home
  • Services
    • Accounting Services
    • Bookkeeping
    • Payroll
    • PPP Loan Forgiveness Assistance
    • Cash Flow Forecast Services
    • Advisory Services
    • Consulting for QuickBooks®
    • Training for QuickBooks®
  • QuickBooks Products
    • QuickBooks Online
    • QuickBooks Desktop
    • QuickBooks Enterprise Solutions
    • QuickBooks Payments
  • Industries
    • eCommerce
    • Entertainment/Film Production
    • Professional Services
    • Real Estate
  • Resources
    • Resources
    • Complimentary Dowloads
    • Mobile Accounting
  • Testimonials
  • Blog
  • About
  • Contact
310-313-1510
veronica@summitsolutionsla.com
December 3 2020

The Personal Financial Satisfaction Index (PFSi)

Veronica Herrera Finance Management, Personal Development

0
SHARES
ShareTweet

How happy are you with your financial situation right now?  In other words, do you feel personal financial pleasure or pain when it comes to your financial standing?

That is what the Personal Financial Satisfaction Index strives to measure for the typical American.

The PFSi is a quarterly economic indicator created by the American Institute of CPAs. This specific economic indicator weighs a variety of economic factors to calculate the financial standing of a typical American. These financial standings are only computed at a high level.

The main agenda of the PFSi is to calculate the difference between two component subindexes: the Personal Financial Pleasure Index and the Personal Financial Pain Index.  These two subindexes are each created of four, equally weighted proprietary and public factors, which ultimately measure the growth of assets and opportunities in the case of the Pleasure Index, as well as the erosion of assets and opportunities in the case of the Pain Index.

In other words, positive scores of the PFSi indicate that Americans are feeling personal financial pleasure. Negative scores, obviously, indicate that Americans are feeling personal financial pain. It might sound like a subjective emotional measure, but it’s not at all; it’s based on government statistics as well as proprietary AICPA data.

The PFSi has been mostly increasing from the third quarter of 2011 to the fourth quarter of 2019. Since then it has dropped dramatically. With the current pandemic still in place, unemployment and other economic factors have contributed to the drop in the index.  You can use the score as a measure against your own financial security and for planning purposes.

Read more about the index here: https://www.aicpa.org/interestareas/personalfinancialplanning/community/pfsi.html

Or reach out to us and we’ll be happy to answer any questions.

Being Grateful in a Less-Than-Awesome Year The Power of Listening

Related Posts

Personal Development

Wrapping Up 2020

Business Growth, Personal Development

The Power of Listening

Personal Development

Being Grateful in a Less-Than-Awesome Year

Monthly Archives

Blog Categories

  • Accounting
  • Accounting Software
  • Blog
  • Bookkeeping
  • Bookkeeping Tips
  • Business Development
  • Business Growth
  • Business Tips
  • Cool Tech Tools
  • Cost-Saving Tips
  • Customer Service Tips
  • Decision-Making Tips
  • Expense Reduction Tips
  • Finance Management
  • Management Tips
  • Marketing Tips
  • Money Management
  • Payroll Tips
  • Personal Development
  • Profitability Tips
  • Tax
  • Technology
  • Time Management Tips
  • Uncategorized
  • Home
  • Services
  • Products
  • Industries
  • Resources
  • Blog
  • About
  • Contact

Contact Us

Accounting for QuickBooks, Bookkeeping, and Outsourced Controller services

Summit Accounting Solutions

11600 Washington Place, Suite 113
Los Angeles, CA 90066

310-313-1510
veronica@summitsolutionsla.com

Client Login

“Working with Veronica Herrera is a breath of fresh air.” – Ximena Herschberg

More testimonials


Intuit, QuickBooks, and QuickBooks ProAdvisor are registered trademarks of Intuit Inc. Used with permission under the QuickBooks ProAdvisor Agreement.
Copyright Summit Accounting Solutions 2020 | Site Design by Accelerator Websites