HSBC Life +Factor Study on Health and Wellbeing
The HSBC Life +Factor Study involved a survey of 10,000 people across Hong Kong, mainland China, UK and Singapore, to gain insights into the relationship between our physical health, mental wellbeing and financial fitness and to understand how these core dimensions of wellbeing are interlinked.
Respondents were asked questions about their physical fitness, mental health and financial habits, what motivates them to take care of their wellbeing and what barriers they face, especially in the context of COVID-19. The survey also included questions on societal wellbeing to gauge how people give back to the community and society at large. The study sought to identify how, by connecting together the core dimensions of wellbeing, people can live life with the +Factor.
Key findings and implications of the HSBC Life +Factor Study
1. Physical, mental and financial wellbeing are interconnected
Strong correlation identified across these dimensions of wellbeing. When one aspect of wellbeing improves, the other dimensions improve as well.
2. Health is Wealth
Financial health enables physical and mental health, but it may be difficult to enjoy financial success without good physical or mental health.
3. A ‘health legacy’ is emerging
Passing on healthy lifestyle habits is becoming an important part of a person’s legacy alongside their financial wealth.
4. Start investing in health and wealth earlier
Exercising more, maintaining a healthy lifestyle and saving more money rank highest in advice to our 15-year young self.
5. Healthy habits start young
Healthy habits started at a young age can lay the foundations of physical, mental and financial wellbeing in adulthood.
6. Financial planning – a driver for wellbeing
Taking small steps to focus on long-term financial planning can have a positive impact on both mental wellbeing and physical fitness.
7. The Societal +Factor
Those with good physical, mental and financial fitness contribute more to society.
8. Covid-19 driving behavior change
Behaviours relating to health, wealth and wellbeing, as well as giving back to society, have been impacted by COVID-19 which is now among the top drivers of stress.