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Savology FAQs

We get asked several questions about our financial plans, the calculations we make, the types of recommendations made by our plans, and more. Chances are you have questions of your own that you want to ask us. You can find the answers to our more frequently asked questions below.

General


What is Savology?

Savology is a financial planning platform helping households across the United States improve their financial well-being and reach financial security by providing access to free financial planning.


Why does Savology exist?

Savology exists to improve the financial well-being of millions of American households by making financial planning more accessible, actionable, and effective than ever before.


Who is Savology for?

Savology is simply for everyone, but specifically for those who do not currently have a financial plan. Savology was built for the everyday person, as a way of providing affordable, accessible, and effective financial planning.

Even if you have an existing financial plan, Savology can serve as not only a second opinion on your finances, but for an easy-to-use method to regularly check in and update your financial progress.


Is Savology a real company?

Yes, Savology is a real company, solving a real problem, by helping real people. Savology was first incorporated in early 2019, and launched our financial planning platform late 2019. Since then, we have helped tens of thousands of households improve their financial well-being by providing access to free financial planning.


What makes Savlogy better?

Savology is able to save people time and money compared to traditional financial planning means. In just 5 easy minutes, Savology users can get access to a free financial plan, holistic report card, personalized action items, and financial planning modules.

Financial Plan


Is it really free?

Absolutely! Savology plans to improve the financial situation for millions of people and that wouldn’t be possible without being accessible and affordable. So it doesn’t cost you anything to get a free plan, report card, and personalized recommendations.

You can take your plan and its recommendations anywhere to implement, but Savology also partners with trusted providers and market leaders to make it easier or cheaper to complete many of the recommended action items. Some of these partners compensate Savology when you choose to use them or learn more about their services. If you like your Savology plan, please explore our partners that help make it all possible. Get started here by building your free plan.


What is a financial plan?

financial plan is more than just an analysis of where you are right now with your personal finances, it is also a strategic game plan for achieving future objectives across all areas of your financial life. An effective plan should include a savings strategy, a risk management plan, tax optimization strategy, an estate plan, and a retirement roadmap.

Savology uses hundreds of key indicators, metrics, and calculations to create a comprehensive plan, holistic report card, and personalized recommendations to help you improve your financial situation and prepare for retirement.


How long does it take to prepare?

Traditional financial planning takes hours of fact finding, preparation, calculation, and analysis to prepare a plan for you. Savology uses proprietary technology and algorithms to create a financial plan for you in about 5 minutes. You can then use all the time you saved to start working on the personalized action item list.


Is it just a free retirement calculator?

Savology does provide retirement calculations for you similar to other retirement calculators, including projections on your earnings, income, investments, and social security. But, Savology is much more than just a retirement calculator; it is a financial planning platform.

Savology takes it even further by providing analysis on what changes you can make to reach your goals or if you need to adjust your retirement goals to be more realistic and attainable. After creating your profile, you will have an account to log into at anytime to make updates to your situation and review your plan, report card, and action items.


How do I get started?

The first step is to complete your personal profile here. This is done by completing the financial survey with your basic information. It takes about 5 minutes to do so for most people depending on how complex your financial picture is and how on top of your finances you are.

How It Works


How long does it take to build a plan?

Most people are able to complete all the information needed to build their plan in about 5 minutes. If you are less familiar with your personal finances it may take a bit longer. After you answer the questions in the survey, Savology generates your personalized financial plan in a matter of seconds while you create your free account.

Then, it is up to you to explore your financial plan, report card, and action items in more detail. While you will be able to gain valuable insights about your current financial well-being in a matter of minutes, it is worthwhile to spend even more time diving deep into your whole plan to increase your understanding.


What does Savology do with my personal information?

Savology keeps your information private and does not sell or share any of your information. Savology uses the information gathered in the survey to build your comprehensive plan and provide the most relevant and accurate recommendations possible. You may also notice that Savology limits the personally identifiable information collected by not asking for sensitive information such as your last name, social security number, date of birth, or phone number when you build your plan.


Is Savology secure?

Savology uses industry best practices to keep your information and our systems secure. You may also notice that Savology limits the personally identifiable information collected by not asking for your sensitive data like your last name, social security number, date of birth, or phone number when building your plan which further minimizes your risk.


How does Savology make money?

Savology helps you identify the best providers in the industry to help you complete the action items prescribed in your financial plan. Many, but not all, providers compensate Savology for any users that choose to use these provider recommendations. This model allows Savology to continue building free financial plans for as many people as possible.


What types of providers does Savology recommend?

Savology only recommends top-rated providers to provide you the best experience and value. Savology makes recommendations for almost any type of provider that can help you manage or improve your finances. This includes retirement accounts, life insurance, budgeting tools, credit management, bank accounts, mortgages, investment management, health savings, other insurances, and much more.


How often should I use Savology?

Improving your finances takes time. The more time and effort that you commit to improving, the better off you will be. While a financial plan isn’t something that you need to review every day, or even every week, you will want to revisit it often enough to stay involved and educated.

At a minimum, we recommend revisiting your plan at the following times. First, log in every time you complete an action item to mark it off and read about the next item on your list. Second, come back to your account to complete additional planning modules as they are made available every couple months. And third, come back to update your financial information anytime you have a significant change, but no less frequently than twice a year. For the most part, you will receive email reminders to keep you on track.


What do I do with my financial plan?

First, review your financial plan thoroughly to understand your current financial state. Then, take action! The reason to build a plan in the first place is to identify the things you need to do to improve your financial well-being and reach your financial goals. Start working on each of the first five action items that you are assigned. If you want more items to work on, you can find deficiencies like your savings rate or debt to income ratio in your financial plan and report card that you can start to improve.

Pricing


Is Savology really free?

Yes, Savology is really free for you. You get a free financial plan, free report card, free action items, and more!

Savology does have to make money somehow to support the development of such a robust platform, but that is supported by our provider partners, not by you.


Why is it free?

Savology is on a mission to improve the financial well-being of millions of American households. It would be difficult to impact that many households by charging thousands of dollars per plan the way that other traditional financial planners do or even with a monthly subscription fee. So, instead Savology makes it available for free so that as many people can use it as possible. If you find value in your plan, make sure to share Savology with your friends and family.


Is there a cost to use recommended providers?

Some of the services or providers that are recommended within Savology are free to use as well, but some are not. Savology makes tailored recommendations, connecting you to the best providers to help you manage your finances and to complete your action items. You can choose to use the providers or ignore them based on the value that they provide to you. You have no obligation to use any free or paid services, but you do support future development and distribution when you do.


Does affiliate compensation bias my personal recommendations?

No. Your personalized action items are generated completely independently of any associated providers and are only in your interest to help you improve. Many action items have no associated provider recommendations at all. Provider recommendations are, however, included whenever possible with the primary purpose of helping you improve your finances more efficiently and effectively.

Compensation to Savology is not a prerequisite or qualifier for providers to be included in the platform. Providers cannot pay to be included on the platform, pay to improve their ratings, or otherwise influence recommendations. Instead, Savology works to find the best providers available and chooses to add them to the platform for the benefit of all users.


Is there anything that isn’t included?

As previously mentioned, your free Savology account does not entitle you to any of the provider services for free, but in most cases can help you get a better deal and save time in finding the best providers for your current financial situation.

Some features on the Savology platform are initially locked, such as grade descriptions and additional action items. These can be unlocked using Savology Stars, which are earned by sharing the platform with friends, completing current action items, logging in weekly to update and track your progress, and more. You can also use earned Savology Stars to get discounts on other products and services.

Team and Careers


What are your specialties?

Savology is a team of specialists with expertise in personal financial planning, estate planning, 401(k) and retirement planning, technology, and marketing.


Are there any career opportunities with Savology?

Savology often posts new career and hiring opportunities. To view and stay on top of current job openings, visit our LinkedIn company page. Any new job openings and career opportunities to join our team will be posted there.

Contacting Savology


Does Savology have a physical address?

Savology is currently headquartered in Orem, Utah. Our physical address is 815 W 1250 S, Orem, UT 84058.


What is the best way to get in touch with your team?

If you’re looking to get in touch with the Savology team about general inquiries, including questions about your free financial plan, reach out to us by email at support[at]savology[dot]com. 


What if I have questions about my financial plan?

If you have general questions about your financial plan and need assistance, email our team directly using the same email address mentioned above. 


What if I want to interview your CEO or feature Savology?

For media inquiries, please contact Bri Ray, Communications Specialist, at 801-472-2124 or press@savology.com.