Australia's perceived financial wellbeing displays an upward trend.

Charlie Nelson
January 2012

Survey respondents are asked to self-classify into four segments:

  • I never seem to have enough money these days (labeled as “Broke”);
  • I manage to meet all my expenses but there’s not really anything left over (“Struggling”);
  • I can afford to spend on those extras that make life worthwhile (“Comfortable”);
  • I have few financial concerns, being both able to save and buy the things I want (“No Worries”).

The surveys are conducted by telephone with nationally representative samples of adults.  Prior to 2010, the sample size was 500 per wave and from 2010 the sample size was 1,200 per wave.

The Perceived Financial Wellbeing data shows increasing affluence (Charts 1 and 2).  The Broke segment is declining and the No Worries segment is growing.  The proportion of adults with money left over after meeting commitments shows a significant upward trend, although the late 2007 peak has not yet been surpassed.  This is not bad given that there was a global financial crisis in 2008/09 which may not yet have run its course.

Chart 1

 

Chart 2

This tracking survey reflects both incomes and commitments.

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