November 27, 2023

NAB Consumer Insights Survey: Financial Hardship – Q3 2023

Financial hardship rises for the 6th consecutive quarter


  • 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)