What is Cash Value?

Cash Value is a metric created by The Financial Clinic in order to quantifiably measure the financial benefits received from coaching. Cash value calculations are integrated into the system so that when coaching a customer on Change Machine, the platform keeps track of a running total. This data point is useful in measuring the impact of your financial security work with your customers.

You can think of it as the money returned to your customers' pockets as a result of coaching.

How is Cash Value Earned?

Cash Value is automatically earned based on the change in information entered into the COACH worksheets from meeting to meeting. These are the ways that cash value is earned:

  • Assets Balances: One to one increase for each of the Asset Balances fields on the Balances Worksheet.
  • Assets Government Benefits Income: Annualized dollar increase on any of the Assets' Government Benefits fields on the Income Worksheet.
  • Banking Costs: Annualized dollar decrease on any of banking fields on the Banking Worksheet or Banking Section of the Expenses Worksheet.
  • Credit Score Established: Establishing credit scores in Change Machine is tracked by entering an initial credit score of 0 or 1 in a meeting and then updating the credit score to 300 or above in a future meeting. In this case, a flat $1,000 of Cash Value is earned.
  • Credit Score Increase: Cash value for increases in credit score is earned based on potential savings from lower interest rates the customer could have on new debt. The formula takes the the difference in the annual interest payments from the old credit score and the new credit score on an assumed balance of $6,750 and minimum payment of $200/month. The interest rate is calculated based off of a mapping of credit score to common interest rates.
  • Debt Balance Decrease: One to one decrease in a debt balance from one meeting to the next on the Debt Worksheet.
  • Debt Interest Rate Decrease: Annualized difference in one year of payments as a result of a decrease in the interest rate from one meeting to the next on the Debt Worksheet.

Customer Cash Value

The total amount of Cash Value for each customer is visible on the Customer File and in the Customer List. Watch as Cash Value updates in real time as you update the COACH worksheets.

Tip:  You need at least two meetings with a customer to start earning cash value.

Cash Value on Customer File

The total cash value that a customer has earned is displayed in the top right hand corner of the customer file.

Cash Value in Customer List

Tip: Click on any of the customer list column headers to sort the list by that column. You can see which of your customers have the most cash value in a single click.

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