Wellbeing is finally lifting with anxiety easing for the first time in more than 18 months according to NAB’s latest economic research. Any lift in wellbeing is welcomed after recently having fallen to decade-low levels.

This coincides with a reduction in financial stress. After reaching an 8-year high, Australians perceptions of their finances also appear to be improving, with NAB’s Household Financial Stress Index falling noticeably in Q3. Overall financial stress moderated for both lower and higher income earners in Q3, though there was a sharper fall among those on higher incomes. Financial stress remains highest among those aged 30-49 and lowest for the 65s. A lower share of Australians also reported feeling worse off financially compared to the same time last year, following 3 straight quarters where those feeling worse off rose.

Australians also report feeling a little more comfortable about their relationship with money. Fewer felt that money was a source of stress in their lives, more felt in greater control of their daily finances, were better equipped to manage a major unexpected expense, while also feeling a little more confident about have enough money to provide for their financial needs in the future. Australians report being more satisfied with nearly all aspects of their daily lives.