October Health – 2025 Report

Financial Wellness in India

The leading cause of financial wellness stress in India is often attributed to job insecurity and lack of stable employment opportunities. This stress is compounded by factors such as rising living costs, inadequate savings for emergencies, and the burden of debt. Many people also face challenges related to lack of financial literacy, which contributes to anxiety about managing their finances effectively. To support employees dealing with financial wellness stress, companies can consider providing access to financial literacy programs and workshops through platforms like October, which can help alleviate some of these concerns.

← back to the Report
Financial Wellness Prevalence
13.97%
Affected people
7,683,500

Impact on the people of India

Effects of High Financial Wellness Stress

  1. Mental Health Issues

    • Increased anxiety and depression
    • Heightened levels of stress and overwhelming feelings

  2. Physical Health Problems

    • Sleep disturbances and chronic fatigue
    • Increased risk of cardiovascular diseases

  3. Impact on Personal Relationships

    • Strain on family dynamics and friendships
    • Increased conflict over financial decisions

  4. Workplace Performance

    • Decreased productivity and focus
    • Higher absenteeism rates and burnout

  5. Lifestyle Changes

    • Poor eating habits or neglect of self-care
    • Avoidance of social activities due to financial constraints

Organizations can support their employees through financial wellness programs or digital mental health resources like October, which provides assessments and group sessions tailored to improve overall mental health and stress management.

Impact on the India Economy

Effects of High Financial Wellness Stress on an Economy

  1. Reduced Consumer Spending
    Financial stress leads to decreased disposable income, causing consumers to cut back on expenditures, which negatively impacts businesses and overall economic growth.

  2. Increased Mental Health Issues
    Financial wellness stress can exacerbate mental health problems such as anxiety and depression, leading to higher healthcare costs and decreased productivity.

  3. Impacts on Employment
    Individuals experiencing financial stress may lower job performance or leave the workforce entirely, contributing to higher unemployment rates and skill shortages in key sectors.

  4. Debt Accumulation
    Financial stress often results in individuals resorting to debt for basic needs, increasing the overall debt burden and creating long-term financial instability for both individuals and the economy.

  5. Stunted Investment
    Businesses may become hesitant to invest in growth and expansion due to financial uncertainty among consumers, leading to a weaker economy and slower job creation.

  6. Widening Inequality
    Financial stress can disproportionately affect lower-income groups, exacerbating income inequality and limiting social mobility.

What can government do to assist?

Strategies to Lower Financial Wellness Stress

  1. Financial Literacy Programs
    Implement nationwide programs to educate citizens on budgeting, saving, and investing. Encourage workshops through community centers and schools.

  2. Access to Financial Counseling
    Offer free or subsidized financial counseling services to help individuals manage debt, plan for retirement, and navigate financial challenges.

  3. Support for Employment Opportunities
    Create initiatives that promote job creation, skills training, and vocational education. This can lead to stable income sources for families.

  4. Mental Health Initiatives
    Integrate mental health support into financial wellness programs. Promote resources like October and October for workplace mental health support to help employees manage stress related to financial issues.

  5. Emergency Funds & Savings Incentives
    Encourage saving by offering tax incentives or matching contributions for low-income individuals to build emergency funds.

  6. Debt Relief Programs
    Establish government-backed programs that assist with debt consolidation and relief options to lower the burden on individuals struggling financially.

What can businesses do to assist their employees?

  1. Provide Financial Education Workshops
    Offer regular workshops or webinars on budgeting, saving, and managing debt to empower employees with financial knowledge.

  2. Implement Employee Assistance Programs (EAPs)
    Include EAPs that offer financial counseling as part of the employee benefits package.

  3. Flexible Spending Accounts
    Introduce health or dependent care flexible spending accounts to help employees manage healthcare costs and reduce financial burden.

  4. Facilitate Savings Plans
    Encourage participation in company-sponsored retirement plans or savings programs with matched contributions.

  5. Promote Open Communication
    Foster an environment where employees feel safe discussing financial stress, and provide support through HR or designated financial advisors.

  6. Leverage Digital Tools
    Utilize platforms like October and October for financial wellness assessments and group sessions to help employees address their concerns collectively.