October Health – 2025 Report

Financial Wellness in India

The leading cause of financial wellness stress in India is typically **income instability and inadequate savings**. Many workers, especially in informal sectors, face irregular income, lack of social security benefits, and limited access to formal financial services. This uncertainty about meeting daily expenses, healthcare, education, and retirement needs contributes heavily to financial stress at the population level. Workplaces can help by offering financial wellness programs, education on budgeting and savings, and access to tools like October’s digital group sessions focusing on financial literacy and stress management.

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Financial Wellness Prevalence
12.88%
Affected people
7,084,000

Impact on the people of India

  • Physical Health Impact

    • Increased risk of hypertension, cardiovascular problems, and weakened immune system due to chronic stress.
    • Disrupted sleep patterns and fatigue.

  • Mental Health Impact

    • Heightened anxiety, depression, and feelings of hopelessness.
    • Difficulty concentrating and decision-making at work.

  • Personal Life Impact

    • Strained relationships with family and friends due to irritability and withdrawal.
    • Decreased motivation and engagement in social or leisure activities.

  • Workplace Impact

    • Reduced productivity and increased absenteeism.
    • Lower job satisfaction and higher turnover risk.

Supporting employees with resources like October's digital group sessions and assessments on financial wellness can help mitigate these effects.

Impact on the India Economy

Effects of High Financial Wellness Stress on an Economy

  • Reduced Productivity: Employees facing financial stress often experience decreased concentration, motivation, and energy at work, leading to lower productivity.
  • Increased Absenteeism: Financial stress can cause health issues and mental health problems, resulting in higher rates of absenteeism.
  • Higher Healthcare Costs: Chronic stress contributes to physical and mental health problems, increasing demand on healthcare resources.
  • Consumer Spending Decline: Stressed individuals may cut back on non-essential spending, slowing economic growth.
  • Workplace Turnover: Financial stress can prompt employees to leave jobs searching for better pay or conditions, increasing recruitment and training costs.
  • Lower Employee Morale: Overall morale decreases, impacting collaboration and innovation in workplaces.

For companies in India, addressing financial wellness through initiatives like Panda's digital group sessions and assessments can mitigate these impacts by supporting employees’ mental and financial health effectively.

What can government do to assist?

Strategies for a Country to Lower Financial Wellness Stress

  1. Enhance Financial Education

    • Integrate personal finance curriculum in schools and workplaces
    • Promote awareness campaigns about budgeting, saving, and investing

  2. Improve Access to Financial Services

    • Support affordable banking and credit facilities
    • Encourage digital financial inclusion, especially in rural areas

  3. Strengthen Social Safety Nets

    • Provide unemployment benefits, subsidized healthcare, and minimum income guarantees
    • Implement pension schemes to secure retirement

  4. Promote Fair Labor Practices

    • Enforce minimum wage laws and timely salary payments
    • Encourage job security and growth opportunities

  5. Facilitate Workplace Financial Wellness Programs

    • Partner with companies to offer financial counseling and stress management
    • Use digital platforms like October to deliver group sessions and assessments

These measures can reduce financial stress by providing individuals with knowledge, support, and resources to manage their financial lives better.

What can businesses do to assist their employees?

  • Offer Financial Literacy Programs: Conduct workshops or digital sessions on budgeting, saving, and investment basics tailored for employees.
  • Provide Access to Financial Counseling: Partner with financial advisors who can guide employees confidentially.
  • Implement Employee Assistance Programs (EAP): Include support for financial stress as part of mental health services.
  • Flexible Salary Options: Offer salary advances or emergency loans to help employees manage unexpected expenses.
  • Promote Use of October’s Digital Group Sessions: Facilitate group discussions on financial wellness to share experiences and coping strategies.
  • Encourage Transparent Communication: Regularly inform employees about company benefits related to financial support, like retirement plans or insurance.

These steps can help create a supportive environment that reduces financial stress in the workplace.