The HSBC FinFit Index measures the financial fitness of Singapore residents based on four criteria — financial habits, financial knowledge, financial security & safety and financial planning — which supposedly shows a “strong correlation” to an individual’s level of satisfaction in relation to their quality of life, well-being and retirement confidence.
A new study from HSBC has revealed a strong correlation between a “global mindset” and financial fitness scores, with top-scoring groups categorising themselves as “global citizens”.
Singapore residents across the board were found to have a moderate financial fitness score of 66 over 100, with global-minded residents — defined as respondents with children studying abroad or who plan to send children abroad for education; or have properties overseas — achieving a higher score of 69 over 100 on average.
