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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:

  • no worries (>80 to 100 score), 24% of Australians;
  • doing ok (>50 to 80 score), 40% of Australians;
  • getting by (>30 to 50 score), 23% of Australians; and
  • struggling (0 to 30 score), 13% of Australians.

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.