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”.
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”.