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Habits for financial wellbeing

Have you ever felt overwhelmed by your financial situation? If so, you are not alone. Many people struggle to make their income cover their living expenses, even before the COVID-19 pandemic. The pandemic has further impacted their finances, which has left them lacking confidence in their financial future.

What is financial wellbeing?

Financial wellbeing is about feeling secure and in control of your day-to-day finances. It's having enough money to pay your bills on time, and having a plan to manage unexpected costs. It's about feeling financially confident when you make plans for your future in line with your goals.

Financial wellbeing is one piece in the overall spectrum of wellness. If this is jeopardized, you may feel it in other areas such as your relationships, mental and physical health.

On the other hand, if you prioritise your financial wellbeing, you're more likely to be happier, have a higher level of confidence and be more productive at work.

Where to start?

1. Get talking

Many people find it difficult to talk candidly and openly about money with their family or friends. Yet, money and finances are a common source of stress. Talking about money with someone you trust may help you to manage any stress you feel about it. Plus, it could be good for your mental health and relationships, and help you plan your financial future more effectively.

2. Make a plan

Getting your finances in shape, or at least having a plan in place, can lift a weight off your shoulders. It helps to have a holistic view of your net worth, so you can map out how to achieve your financial goals and work towards them. To do this, you can use HSBC FinConnect on your HSBC Singapore app – it consolidates your finances from various financial institutions and government agencies.

You can log on to the app, then select 'Connect with other banks' to see your assets and liabilities.

Financial wellbeing

Find out about what being financially fit means

Creative ways to reduce your expenses

Protect the things that matter the most to you

How good habits can help you achieve financial wellbeing