Exactly what is a Financial Wellness Index – And just what Does It Say About How Financially Healthy You Are?
Singaporeans place their health seriously, and rightly so! With the world's longest life span at 84.8 years, Singaporeans can tell you they are among the healthiest people in the planet.
But good health is best paired alongside good personal finance planning. Similar to the way we look after our overall health, we ought to likewise try to make sure our financial health is well looked after.
OCBC's Financial Wellness Index found that Singapore scored typically 63. Which means that the typical Singaporean is in the 'Started but behind' stage of their financial journey. 48% of respondents don't have passive income and just 51% can stretch their savings to last Six months.
How do you know if you're in good financial health? We have a simple checklist for you to refer to!
Improve Your Financial Literacy
To help Singaporeans better plan their finances, OCBC has launched the OCBC Financial Masterclass, a web-based financial literacy course that consists of 10 short videos.
Conducted by their own finance experts, these videos will discuss these topics:
- Manage Your Wealth
- Manage Your Debt
- Safeguard Your Wealth
- Grow Your Wealth
OCBC makes this Financial Masterclass readily available for all Singaporeans online, regardless if you are an OCBC consumer or not. Get started on your financial wellness by watching these videos here.
You may also pick up quick tips with these 10 OCBC Wealth Hacks. Each video having a wealth hack will give you less than 30 seconds to complete.
Take the necessary steps to improve your financial wellness and learn these wealth hacks here.
