After the New Year’s Eve party confetti settles, you’ll likely start thinking about how you want your 2022 to pan out. Your resolutions might include health-focused goals like quitting smoking or conquering a 10K by the time the year’s out, but don’t ignore your financial health. Taking stock of your finances might not immediately sound like an exciting undertaking, but you’ll be better off for it in the long run.
If you’re looking to evaluate your financial health, you’re in good company. Singaporeans are now paying more attention to financial management, reveals the results of the latest OCBC Financial Wellness Index, released in November 2021. The online survey of more than 2,000 working adults in Singapore, conducted from August to September 2021, showed the overall index score was 62 last year, up from 61 in 2020.
Through measuring 10 pillars of financial wellness – savings and gambling habits, regular investing, protection from emergencies, regular investing and financial reviews, excessive speculation, borrowing money, spending beyond means and managing debt – the survey results indicated that over the last two years, Singaporeans had grown more confident about accumulating sufficient funds to cover a crisis and to sustain six months of possible unemployment, while fewer had unsecured debt, and more were able to pay off housing loans.
“I’m glad that in our financial wellness index, we found that more Singaporeans have started to save, because of what we have been through the last two years,” says Tan Siew Lee, OCBC Bank’s head of wealth management in Singapore. “This pandemic has taught us not to think the world will be good forever; large unforeseen events like this can happen.”
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Breaking Down The Benefits Of Hyaluronic Acid
Here's why this popular skincare ingredient is a potent fix for dehydrated complexions.
Heritage in a Bottle
Crafted by Swiss perfumer Christine Nagel, Barenia is the first chypre fragrance from Hermes, a seductive scent that is a dance between the delicate butterfly lily and the vibrant burst of miracle berry.
Is my adult acne caused by hormonal changes?
Quinn Chen answers.
BEST IN CLASS
MOVING AWAY FROM INTRODUCING ENTIRELY NEW PRODUCTS, BRANDS SUCH AS SHISEIDO, CLE DE PEAU BEAUTE AND SULWHASOO HAVE CHOSEN TO GO BACK TO THE DRAWING BOARD TO ELEVATE TRIED-AND-TRUE FORMULAS. THESE ICONIC CLASSICS ARE MORE EFFICACIOUS AND LUXURIOUS THAN BEFORE.
Sneak Peek
We've got our sights set on these new must-haves that promise to breathe new life into tired-looking eyes.
ACTS OF SERVICE
Beauty brands are enticing customers with a range of in-store treatments and services that offer expert tips, demonstrations and pampering.
November favourites
Here are some of the must-haves you will not regret adding to your beauty shelf.
Against the rules
Step into the dark side with grunge-inspired moody tones and smoky, smudgy eyes.
Is it ever a good idea to engage in online discourse?
Sarah Bagharib answers.
GO WITH THE FLOW
Half a month in Mongolia living with nomadic families and exploring the country's storied beauty taught senior advertising strategist Uli Chan the beauty of impermanence.