Overview

• The number of Australians that experienced some form of financial hardship rose in Q3’23 to 44%.
• Over 1 in 4 said it was caused by not having enough money for an emergency, and 1 in 5 by not having enough for food & basic necessities or being unable to pay a bill.
• The number of people who identify as being unable to pay their mortgage is approaching 1 in 10 (7%).
• While a much higher number of people on lower incomes continue to experience hardship, it is becoming more prominent among higher income groups.
• Financial hardship is most widespread in rural areas, with 6 in 10 people impacted.
• 1 in 4 Australians agree very strongly with the statement, “I am struggling to make ends meet”.

For further details, please see the Financial Hardship Report (Q3 2023)