October Health – 2025 Report

Financial Wellness in India

The leading cause of financial wellness stress in India, at the population level, is income instability and insufficient savings, often due to job insecurity, informal employment, and lack of social security benefits. This creates widespread concern over meeting basic needs, managing debt, and funding education and healthcare. Addressing this through workplace financial wellness programs, including digital group sessions on budgeting and debt management via platforms like October, can significantly help employees manage these stresses.

← back to the Report
Financial Wellness Prevalence
12.65%
Affected people
6,957,500

Impact on the people of India

Effects of High Financial Wellness Stress on Health and Personal Life

  • Mental Health:
    Increased anxiety, depression, and chronic stress due to financial worries can impair overall emotional well-being.

  • Physical Health:
    Elevated stress hormones may lead to insomnia, headaches, high blood pressure, and weakened immune system.

  • Work Performance:
    Financial stress can reduce concentration, productivity, and increase absenteeism in the workplace.

  • Relationships:
    Strained personal relationships and social withdrawal often result from ongoing financial pressure and conflict.

  • Quality of Life:
    Reduced ability to enjoy leisure activities and increased lifestyle limitations due to financial constraints.

Workplace Support Tip:
Employers in India can integrate financial wellness programs and digital group sessions via platforms like October to help employees manage financial stress and improve overall well-being.

Impact on the India Economy

Effect of High Financial Wellness Stress on an Economy

  1. Reduced Productivity: Employees experiencing financial stress are less focused and motivated, leading to lower workplace productivity and efficiency.

  2. Increased Absenteeism: Financial worries contribute to higher rates of absenteeism due to mental health issues or the need to manage financial difficulties.

  3. Higher Healthcare Costs: Financial stress can lead to mental health problems such as anxiety and depression, increasing healthcare expenditure for employers and the economy.

  4. Lower Consumer Spending: Stressed individuals may cut back on discretionary spending, slowing economic growth.

  5. Increased Turnover and Talent Drain: Financially stressed workers may seek higher-paying jobs or leave the workforce, causing instability and recruitment costs for businesses.

Supporting Employee Financial Wellness Programs:
Employers can mitigate these effects by offering financial wellness programs, digital group sessions, and assessments through platforms like October, promoting better mental health and economic outcomes.

What can government do to assist?

  • Promote Financial Literacy: Implement nationwide education programs on budgeting, saving, debt management, and investing.
  • Enhance Social Safety Nets: Provide unemployment benefits, affordable healthcare, and pension schemes to reduce financial uncertainty.
  • Encourage Employer Support: Incentivize companies to offer financial wellness programs, including counseling and workshops.
  • Improve Job Security and Wages: Foster economic policies that increase stable employment and living wages.
  • Increase Access to Affordable Credit: Regulate lending institutions to provide fair credit options to prevent predatory borrowing.

For workplaces in India, integrating platforms like October can deliver digital group sessions and resources that build employees’ financial resilience, reducing overall stress.

What can businesses do to assist their employees?

  • Provide Financial Education Workshops: Conduct regular sessions on budgeting, savings, and investment basics tailored to employees' needs.
  • Offer Access to Financial Counseling: Partner with certified financial advisors for one-on-one consultations.
  • Implement Fair Compensation Practices: Ensure timely and transparent salary payments with clear communication on benefits.
  • Promote Employee Assistance Programs (EAP): Include financial wellness resources and counseling as part of EAP offerings.
  • Facilitate Group Digital Sessions on Financial Wellness: Use platforms like October to organize interactive group sessions focusing on managing finances and reducing stress related to money.

These steps can reduce anxiety related to financial insecurity and improve overall employee wellbeing.