December 16, 2021

NAB Australian Wellbeing Survey Q3 2021

Australia's wellbeing levels fall sharply as lockdowns bite in several states. But financial stress has eased & fewer Australians are experiencing financial hardship.


NAB’s Q3 wellbeing survey reinforces our strong belief in “more than money”. While overall levels of household financial stress and hardship eased, wellbeing levels fell sharply, coinciding with extended lockdowns in much of VIC, NSW, and the ACT. While lockdowns have been an effective means of decreasing the number of new COVID-19 cases, they appear to have taken a toll on the population. Australians were far less satisfied with their lives. Over 1 in 3 of us continue to struggle with “high” anxiety. Wellbeing declined in capital cities, but rose in regional areas. Wellbeing fell most in Victoria. Low income earners, the unemployed and those who have lost their main source of income because of COVID, are among those with the lowest wellbeing, while home owners continue to enjoy higher wellbeing than renters. Lower income earners also have higher financial stress, especially in their ability to raise $2,000 for an emergency, other monthly household expenses, monthly utility bills and medical bills & healthcare. Around 3 in 10 Australians believe they are worse off financially than at the same time last year. Finally, the number of Australians who think now is a good time to buy a home fell for the third consecutive quarter.

Living well is important to all of us. Wellbeing means being able to cope with the challenges we face and making the most of the opportunities that arise. While money is important, it’s not what matters most. Our wellbeing lies in the connections we share, the relationships we build, our pets, homes, safety and feeling part of our local community. Being in control of our finances also improves wellbeing. Over 1 in 5 Australians strongly believe that because of their financial situation, they will never have the things they want in life. While wellbeing typically rises as our income grows, especially for those on lower incomes, any increase in wellbeing associated with each dollar eventually diminishes. The importance of money is its ability to help us pursue the life we want for ourselves and those we care most about, and to cope with the more difficult aspects of all our lives. And, our attitudes and behaviours can influence outcomes.

Find all the insights in NAB Australian Wellbeing Survey (Q3 2021)

Ana Marinkovic – Making the most of holiday trading

Ana Marinkovic – Making the most of holiday trading

29 November 2023

The holiday season shopping flurry can offer some small businesses the opportunity to prosper… and others a time to take stock for the new year. Both call for careful preparation – particularly in the current environment. NAB Executive Small Business Ana Marinkovic shares her top tips.

Ana Marinkovic – Making the most of holiday trading