Understanding the financial wellness of Singaporeans
Launched in 2019, the OCBC Financial Wellness Index is the most comprehensive study on the financial health of Singaporeans.
The Index provides the bank with deep insights into consumers, which in turn helps us understand where our customers need more help in and develop even better solutions that can meet their needs.
![The ideal financial health score target by OCBC financial experts](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/kv_idealscore-2023.png)
![The ideal financial health score target by OCBC financial experts](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/kv-mobile_idealscore.png)
Designed and formulated by OCBC, the Index is based on the 10 pillars of financial wellness as defined by the bank's wealth management experts.
Every year, around 2,000 working adults in Singapore aged between 21 and 65 are surveyed online on questions relating to their financial situation.
To assess how each respondent fares against these pillars, 24 indicators – standards and guidelines that are widely-accepted best practices in financial planning – are used to derive an individual score of a maximum of 100.
Based on their overall score, respondents are classified into various stages of financial wellness –
Have not started (0-24): Respondents have hardly taken any action on most indicators;
Intend to start (25-49): Respondents have just started or are intending to start;
Started but behind (50-74): Respondents have started but are behind on most indicators; and
Started and ahead (75-100): Ahead on almost all indicators.
How Singaporeans fared over the years:
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/icon-1@2x.png)
Singaporeans who have saved at least 6 months of their monthly salary
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/graph_save6msalary2.png)
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/graph-mobile_save6msalary2.png)
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/icon-3@2x.png)
Singaporeans who are on track with their retirement plans
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/graph_retirementplans-ontrack2.png)
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/graph-mobile_retirementplans-ontrack2.png)
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/icon-4@2x.png)
Singaporeans who have investments
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/graph_winvestments2.png)
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/graph-mobile_winvestments2.png)
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/icon-5@2x.png)
Singaporeans who review their financial plans annually
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/graph_regularannualreviews2.png)
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/graph-mobile_regularannualreviews2.png)
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/icon-6@2x.png)
Singaporeans who often gamble more than they can afford to lose
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/graph_gambleoften2.png)
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/graph-mobile_gambleoften2.png)
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/icon-7@2x.png)
Investors in Singapore who excessively speculate for quick gains
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/graph_excessivespeculation2.png)
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/graph-mobile_excessivespeculation2.png)
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/icon-8@2x.png)
Singaporeans who often borrow money from their family or friends
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/graph_borrowmoney2.png)
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/graph-mobile_borrowmoney2.png)
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/icon-9@2x.png)
Singaporeans who spend beyond their means to keep up with their peers
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/graph_spendbeyondmeans2.png)
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/graph-mobile_spendbeyondmeans2.png)
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/icon-10@2x.png)
Singaporeans with no unsecured debt
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/graph_nounsecureddebt2.png)
![](/iwov-resources/sg/ocbc/gbc/campaign/fwi/img/understand-the-index/graph-mobile_nounsecureddebt2.png)
We developed 6 financial personas, based on a combination of the top 2 dominant financial personality traits. Some personas had better financial wellness index scores on average than others.
Which persona are you?
Discover interesting stats and figures.
OCBC Financial Index 2023 Report
OCBC Financial Index 2022 Report
OCBC Financial Index 2021 Report