According to a recent survey*, on average Australians have a financial wellbeing score of 59 out of 100.
Interestingly, four categories were identified in the survey:
As a way of comparison, those in the no worries category are “well positioned socio-economically, and their financial outlook is positive; they can sustainably cover expenses, and they are well placed for retirement”. Whereas, those in the struggling category are “struggling to meet day-to-day financial commitments, aren’t feeling comfortable with their financial situation and have little financial resilience”.
In this animation, we illustrate what is financial wellbeing, and the things that influence it.
*ANZ. (2018). Financial wellbeing: A survey of adults in Australia.