What is the HSBC Life +Factor Study about?
The HSBC Life +Factor Study wanted to find out about how health and wellbeing are connected. It surveyed 10,000 people across Hong Kong, mainland China, the UK and Singapore, to see if there is a relationship between our physical health, our mental wellbeing and our financial fitness. Most importantly, the study wanted to understand how these aspects of your wellbeing are interlinked.
We asked people 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 had questions on societal wellbeing to see how people give back to the community and society at large.
Main takeaways of the HSBC Life +Factor Study
1. Physical, mental and financial wellbeing are all interconnected
There is a strong correlation across these dimensions of wellbeing. When one aspect of your wellbeing improves, the others improve as well.
2. Health is wealth
Financial health can enable physical and mental health. But no matter how much money you have, it can be difficult to enjoy it if you don't also have good physical and mental health.
3. A "health legacy" is emerging
Alongside leaving a financial inheritance, passing on healthy lifestyle habits is becoming an important part of a person's legacy.
4. Start investing in health and wealth earlier
What advice would you give your 15-year-old self? The highest ranking answers were: exercise more, maintain a healthy lifestyle and save more money.
5. Healthy habits start early
When started at a young age, healthy habits can lay the foundation of physical, mental and financial wellbeing in adulthood.
6. Financial planning can be 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.