Inflation has clearly been a factor, eroding real incomes, while monetary policy tightening has impacted borrowing costs and debt repayments. While disproportionately affecting some of us, the decline in wellbeing has been very broad based. Australians have shown remarkable resilience, but this has required effort. Most households have made adjustments to their lives, with many also supporting others. New NAB research shows over 1 in 5 Australians over 50 are helping children or grandchildren financially, potentially impacting their own financial security. But there are some clear ‘green shoots’. Australians are scoring satisfaction with most aspects of their lives better, including Government and the economy. Optimism is also up, with migrants leading the way; and financial stress has fallen after rising for two consecutive quarters. Cost of living concerns are easing, and more households believe rates have peaked and we’re moving to a downward cycle.

Read the full reports here: NAB Australian Wellbeing Survey Q2 2025