Your Financial Wellness

Financial Wellness Matters

"Financial Wellness is an individual’s ability to understand money and finances to be confident enough to apply that knowledge to make effective financial decisions."

Your Financial Wellness, together with our project partners, embarked on a landmark research project to measure financial wellness in Australia. Conducted by the Centre for Social Impact at the University of NSW, the research confirmed that the Your Financial Wellness Index can reliably be used to measure the financial wellness of everyday Australians.

Following on from the report by UNSW Sydney, Your Financial Wellness decided to conduct further in-depth analysis to better understand the socio-demographic factors influencing financial wellness in Australia. Over 3,000 respondents from across Australia answered up to 100 questions relating to their financial aspirations, financial position, and financial literacy.

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Financial Stress: The Facts

Our research found almost one in two (46%) Australians experience some form of financial stress, half (51%) sometimes worry about meeting normal monthly expenses, one in five (21%) cannot often afford to eat out or go to the movies, and 27% reported high or overwhelming financial stress. If an emergency strikes, Australian workers and their families also have few resources to fall back on – our research shows that 40% of households have less than one month’s salary in savings.

sometimes worry about meeting normal monthly expenses

cannot often afford to eat out or go to the movies

reported high or overwhelming financial stress

The Australian Psychological Society has been conducting its Stress and Wellness in Australia survey since 2011. It found that financial issues remain the top source of stress for the nation, with “more than half of Australians identifying finances as a cause of stress”. The survey also shows that those aged between 18 and 35 were highly stressed about being able to pay for essential needs because of uncertainty about the ongoing availability of work in the post Global Financial Crisis economy.

YFW Whitepaper 2023 - Empowering Employees: The Strategic Imperative of Financial Wellness Education

YFW Insights 2023 - Mind the Gap: The Divide in Financial Wellness Across Australia

YFW Insights 2021 - Exploring the Socio-Demographic Factors Impacting Financial Wellness in Australia

Did you know that:

“Over one-third of Australian adults ﬁnd dealing with money stressful, even when things are going well.”

Your current attitudes to money could be dictating your overall financial success - understanding this could improve your fortunes forever.Becoming more financially literate improves your chances of becoming a better money manager - better at choosing financial products, keeping track of finances and staying informed.

Financial Wellness Matters

"Financial Wellness is an individual’s ability to understand money and finances to be confident enough to apply that knowledge to make effective financial decisions."

Financial Stress: The Facts

Did you know that:

“Over one-third of Australian adults ﬁnd dealing with money stressful, even when things are going well.”

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