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Are you financially fit? | The Straits Times

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A recent HSBC survey polled around 1,100 people in Singapore to find out if they were financially fit. Participants were asked questions relating to their money habits, knowledge of financial products, planning style and the steps they take to safeguard their personal details.

The survey found that only 30 per cent of the respondents were deemed “very fit”, about 50 per cent were “moderately fit” while the remaining 20 per cent were “unfit”.

ST Invest has built on the survey questions to design a simple test. Go on and take the challenge!

Question 1/9

You have a regular savings plan


Question 2/9

You don’t buy things impulsively


Question 3/9

You have enough savings to last 6 months if you stop working


Question 4/9

You always pay credit card bills in full


Question 5/9

You always pay credit card bills by due date


Question 6/9

You always pay utility bills on time


Question 7/9

You have used financial products to increase the value of your assets in the past 6 months


Question 8/9

You do not spend more than you earn


Question 9/9

You keep an income-and-expenditure budget


Question 1/6

You know relevant financial products that benefit you


Question 2/6

You know how to choose products that suit your needs


Question 3/6

You know the fees before you buy such products


Question 4/6

You know the benefits and potential risks of these products


Question 5/6

You know to compare products before buying


Question 6/6

You know your investment risk tolerance level


Question 1/10

You review your financial plan at least once a year


Question 2/10

You seek professional advice at least once a year


Question 3/10

You review your investment portfolio at least once a year


Question 4/10

You are prepared for your health care and medical expenses


Question 5/10

You are prepared for emergency and unexpected expenses


Question 6/10

You have a good financial plan for retirement


Question 7/10

You know how much you need for retirement


Question 8/10

You always monitor the state of your retirement savings


Question 9/10

You always keep to your plan to increase retirement savings


Question 10/10

You have enough to pay for each of your life goals


Question 1/7

You change digital banking password at least once a year


Question 2/7

You have not done online banking with public Wi-Fi


Question 3/7

You check bank statements to verify your transactions


Question 4/7

You safeguard your bank passwords


Question 5/7

You have not provided credit card information on unknown or unfamiliar online sites


Question 6/7

You check messages and calls are from genuine parties before replying


Question 7/7

You have not shared sensitive personal data through instant messaging/ social media platforms


The health of your wealth

You received 3 points for every “yes” and 0 for every “no”.

Source:

HSBC

Published by SPH Media Limited, Co. Regn. No. 202120748H. Copyright © 2022 SPH Media Limited. All rights reserved.


A recent HSBC survey polled around 1,100 people in Singapore to find out if they were financially fit. Participants were asked questions relating to their money habits, knowledge of financial products, planning style and the steps they take to safeguard their personal details.

The survey found that only 30 per cent of the respondents were deemed “very fit”, about 50 per cent were “moderately fit” while the remaining 20 per cent were “unfit”.

ST Invest has built on the survey questions to design a simple test. Go on and take the challenge!

Question 1/9

You have a regular savings plan


Question 2/9

You don’t buy things impulsively


Question 3/9

You have enough savings to last 6 months if you stop working


Question 4/9

You always pay credit card bills in full


Question 5/9

You always pay credit card bills by due date


Question 6/9

You always pay utility bills on time


Question 7/9

You have used financial products to increase the value of your assets in the past 6 months


Question 8/9

You do not spend more than you earn


Question 9/9

You keep an income-and-expenditure budget


Question 1/6

You know relevant financial products that benefit you


Question 2/6

You know how to choose products that suit your needs


Question 3/6

You know the fees before you buy such products


Question 4/6

You know the benefits and potential risks of these products


Question 5/6

You know to compare products before buying


Question 6/6

You know your investment risk tolerance level


Question 1/10

You review your financial plan at least once a year


Question 2/10

You seek professional advice at least once a year


Question 3/10

You review your investment portfolio at least once a year


Question 4/10

You are prepared for your health care and medical expenses


Question 5/10

You are prepared for emergency and unexpected expenses


Question 6/10

You have a good financial plan for retirement


Question 7/10

You know how much you need for retirement


Question 8/10

You always monitor the state of your retirement savings


Question 9/10

You always keep to your plan to increase retirement savings


Question 10/10

You have enough to pay for each of your life goals


Question 1/7

You change digital banking password at least once a year


Question 2/7

You have not done online banking with public Wi-Fi


Question 3/7

You check bank statements to verify your transactions


Question 4/7

You safeguard your bank passwords


Question 5/7

You have not provided credit card information on unknown or unfamiliar online sites


Question 6/7

You check messages and calls are from genuine parties before replying


Question 7/7

You have not shared sensitive personal data through instant messaging/ social media platforms


The health of your wealth

You received 3 points for every “yes” and 0 for every “no”.

Source:

HSBC

Published by SPH Media Limited, Co. Regn. No. 202120748H. Copyright © 2022 SPH Media Limited. All rights reserved.

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