Understanding the financial wellness of Singaporeans

I am always on the lookout for new developments in the financial world and breaking news that might affect my investments.

When I come across a new financial product, I will find out more to see if it is relevant for me.

I set financial goals and develop an actionable plan with timelines to achieve these goals.

When purchasing a product, I have an evaluation process (e.g., I will look up what it would cost, its upsides and risks).

I have consistently put money towards my financial goals (e.g., retirement by a certain age, saving for my child’s university fees).

If I am in debt, I will prioritise paying it off completely (e.g., opt for cheaper alternatives, deny myself luxury purchases or more expensive meals).

I find it hard to put aside my emotions for my financial decisions (e.g., when markets do not move as expected).

My estimation of how much I need to retire takes into account my lifestyle desires, inflation, investment risk, taxes and health-related expenses.

I am not afraid to make big financial decisions involving large sums of money.

I know I will retire with enough money.

I would not let one bad investment decision stop me from investing altogether.

I do not give up after a financial setback.

I know how much loss I can accept on a financial product.

I often regret my financial decisions (e.g., shopping purchases, investments) although they seemed like a good idea at that time.

I do not procrastinate once I have decided to do something (e.g., purchasing a T-bill, opening a fixed deposit account).

When my financial circumstances change, I would revise my financial goals and targets in a timely manner.