October Health – 2025 Report

Financial Wellness in India

The leading cause of financial wellness stress in India at the population level is primarily **income insecurity and job instability**. This includes factors such as unpredictable job markets, underemployment, and lack of sufficient social security benefits. Additionally, high levels of personal debt and rising living costs contribute significantly. For workplace support, companies can use October's digital group sessions and assessments to address financial stress and build financial literacy among employees.

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Financial Wellness Prevalence
12.65%
Affected people
6,957,500

Impact on the people of India

  • Physical Health Impacts:

    • Increased risk of cardiovascular diseases
    • Weakened immune system leading to frequent illnesses
    • Sleep disturbances such as insomnia

  • Mental Health Effects:

    • Heightened anxiety and depression
    • Difficulty concentrating and decision-making
    • Feelings of hopelessness and low self-esteem

  • Personal Life Consequences:

    • Strained relationships with family and friends due to stress
    • Reduced social interaction and isolation
    • Lower overall life satisfaction and work productivity

For workplace support, consider introducing financial wellness programs and digital group sessions like those offered by October to help employees manage financial stress effectively.

Impact on the India Economy

Effects of High Financial Wellness Stress on an Economy

  1. Reduced Productivity
    Employees experiencing financial stress often face decreased concentration, increased absenteeism, and lower overall productivity at work.

  2. Increased Healthcare Costs
    Financial stress contributes to mental health issues like anxiety and depression, leading to higher healthcare utilization and costs for employers and the economy.

  3. Lower Consumer Spending
    Financial distress can cause households to cut back on spending, slowing down economic growth and affecting businesses.

  4. Higher Turnover Rates
    Financially stressed employees may seek higher-paying jobs or leave the workforce, increasing recruitment and training costs.

  5. Decreased Employee Engagement
    Stress hampers motivation and engagement, reducing innovation and organizational performance.

Supporting Employee Financial Wellness through digital group sessions or assessments, like those provided by October, can mitigate these effects, improving both individual well-being and overall economic outcomes.

What can government do to assist?

  • Promote Financial Literacy Programs: Implement nationwide education initiatives focused on budgeting, saving, investing, and debt management.
  • Enhance Social Security Systems: Strengthen unemployment benefits, pensions, and healthcare subsidies to reduce financial uncertainty.
  • Encourage Employer Support: Motivate companies to offer financial wellness benefits, such as counseling and workshops, to employees.
  • Regulate Predatory Lending: Enforce laws against high-interest loans and ensure transparent financial products.
  • Facilitate Access to Affordable Credit: Support community banks and credit unions to provide fair credit options.

For workplaces, integrating digital group sessions on financial wellness via platforms like October can help employees manage financial stress collaboratively and proactively.

What can businesses do to assist their employees?

  • Provide Financial Education: Organize workshops or webinars on budgeting, saving, and investing to improve employees' financial literacy.
  • Offer Access to Financial Advisors: Partner with financial planners to give employees personalized advice.
  • Implement Employee Assistance Programs (EAPs): Include financial counseling as part of EAP services.
  • Promote Flexible Salary Options: Allow salary advances or flexible paydays for urgent financial needs.
  • Encourage Use of Digital Tools: Introduce apps and content about financial wellness; platforms like October can deliver group sessions and assessments addressing financial stress.
  • Create a Supportive Environment: Normalize conversations about financial stress to reduce stigma and encourage seeking help.