Singlife’s Second Edition of the Financial Freedom Index (FFI)

We are proud to release the second edition of the Singlife Financial Freedom Index.  At Singlife, we believed that financial freedom is more than just a goal; it’s a journey that empowers individuals to take control of their financial wellbeing at every stage of life.

The Index measures the degree to which individuals in Singapore feel financially free. This year, Singaporeans scored 58 out of 100 compared to 60 out of 100 in 2023 when it comes to feeling financially free. We noted that most of them are starting to feel the effects of inflation, expenses, and the likes – causing close to half (44%) of Singaporeans to think that they will never be able to achieve financial freedom.

Explore the key findings to empower your own journey to financial freedom!

Sounds Impossible? Think Again!

We get how important financial planning is, and we’re here to help turn your financial freedom dreams and goals to reality. With our technology-enabled solutions and a wide range of products and services, Singlife is here to be your partner in achieving your dreams, no matter big or small.

Get in touch with our team for your personalised Financial Freedom Plan. Make an appointment with us today! Simply email us at [email protected]

Notes:

The Financial Freedom Index is a study commissioned by Singlife, a leading homegrown financial services company, with the objective of understanding the current perception of financial freedom amongst individuals in Singapore. The Index captures the extent to which individuals feels financially free, reflecting their emotions and sentiments towards their financial situation.

The Index measures the degree to which individuals in Singapore feel financially free and is the result of a comprehensive consumer survey

The self-administered survey was conducted online from April 2024 to June 2024. It involved 3,000 Singaporeans and Permanent Residents (PRs) aged between 18 and 65 years. Representing diverse income levels and life stages.

The Index is based on a single direct question, using a scale of 1 to 10, where 10 represents "Extremely financially free" and 1 denotes "Not at all financially free." Participants were asked to rate how financially free they felt.  The survey evaluated the Index using 245 indicators categorised under six key themes contributing to financial freedom.