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Financial wellbeing 

ANZ is committed to deepening the understanding of financial wellbeing in Australia and New Zealand by producing an academic survey every three years, informed by the latest international research.

Our committment

ANZ is committed to improving the financial wellbeing of our people, customers and communities by helping them make the most of their money throughout their lives. We have set targets to:

  • Support 1.3 million customers to save regularly, by end 2022 (Australia/New Zealand)
  • Publish Adult Financial Wellbeing Research to inform our product design and financial literacy program delivery, by end 2022
  • Establish seven new partnerships to expand the reach and improve impact of MoneyMinded for vulnerable people, by end 2023

We publicly report on our progress against these targets in our ESG reporting.

Adult financial wellbeing research

The 2021 Financial Wellbeing Survey represents an evolution in how we examine financial wellbeing, drawing on the work of Professor Elaine Kempson et al. and developments in international research and practice in measuring and improving people’s financial wellbeing since 2017.

The latest reports set out insights from the survey measuring the financial wellbeing of more than 5,000 adults in Australia and New Zealand. The survey is the seventh in a series of comprehensive surveys that ANZ has conducted in Australia since 2002 and New Zealand since 2017.

This 2021 Financial Wellbeing Survey highlights the significant role that a person’s socio-economic context and their behaviour traits play in influencing their financial wellbeing.

 

The 2021 research also showed that in addition to their ability to meet everyday commitments, how comfortable they feel about their financial situation and their resilience to sustain financial shocks, whether people were ‘feeling secure for the future’ was a key fourth component of measuring financial wellbeing. The financial wellbeing scores were derived from measures for four components of financial wellbeing:

Meeting everyday commitments

How well people meet their current expenses

Feeling comfortable

How comfortable people feel about their current financial situation (next 12 months)

Financial resilience

The ability to cope with financial setbacks

Feeling secure for the future

A long term view of future financial security

Financial Wellbeing: a survey of adults in Australia and New Zealand 2021

Summary report in Australia

2021 Adult Financial Wellbeing Survey - Australia (PDF 9.1MB)

2021 Adult Financial Wellbeing Survey - Australia - Accessible (PDF 4.2MB)

  • Australian survey respondents were divided into four segments according to their financial wellbeing score – no worries (29%), doing OK (43%), getting by (17%), struggling (11%).
  • Financial wellbeing scores varied across different stages of the ‘life journey’:

This chart indicates the 2021 average financial wellbeing score for Australians was 64 out of 100. Young adults scored 59, Young families scored 58, Older families scored 64 and Retirees scored 77.

 

  • New Zealand survey respondents were divided into four segments according to their financial wellbeing score – no worries (25%), doing OK (47%), getting by (20%), struggling (8%).
  • Financial wellbeing scores varied across different stages of the ‘life journey’:

This chart indicates the 2021 average financial wellbeing score for New Zealanders was 63 out of 100. Young adults scored 61; Young families scored 60; Older families scored 62 and Retirees scored 78.

 

ANZ Roy Morgan Financial Wellbeing Indicator

Mother and daughter smiling and hugging.

The ANZ Roy Morgan Financial Wellbeing Indicator is an ongoing time-series measure of financial wellbeing.

Powered by the Roy Morgan Single Source Survey, the ANZ Roy Morgan Financial Wellbeing Indicator provides unique, regular insights into Australians’ and New Zealanders’ financial wellbeing.

Front cover of report is an artistic view of a secret garden

Our approach to Accessibility and Financial Inclusion

Our focus on financial wellbeing has presented an opportunity to refresh our approach across a range of initiatives and for the first time, bring together our commitments to financial inclusion and accessibility in one place. Specific financial inclusion commitments in this document form the most recent iteration of our Financial Inclusion Action Plan (FIAP). The FIAP partnership group, led by Good Shepherd Microfinance, supports organisations to develop meaningful actions and to measure their social and economic impact.

Our financial wellbeing programs

We have developed financial wellbeing programs in consultation with community partner organisations and government. These programs aim to provide real social benefits to the community by improving financial inclusion and capability of lower income individuals.

Saver Plus

A matched savings and financial education program, Saver Plus provides an opportunity to have every dollar saved (up to $500) matched for your family’s education-related expenses.

Learn more

MoneyMinded

A flexible education program for adults seeking to build money management skills, knowledge and confidence.

Learn more

MoneyBusiness

MoneyBusiness was developed to build the money management skills and confidence of Indigenous Australians living in remote communities.

Learn more

You might be interested in

How is financial wellbeing tracking?

ANZ’s latest Financial Wellbeing survey of adults in Australian reflects new ways of understanding and measuring financial wellbeing.

Learn more

Financial Wellbeing: Why your relationship with money really matters

ANZ’s latest Financial Wellbeing survey of adults in New Zealand reflects new ways of understanding and measuring financial wellbeing.

Learn more

Your next step to better financial wellbeing

Check out the Financial Wellbeing hub and calculate your Financial Wellbeing score.

Learn more

2021 ESG Supplement

This report provides detailed information on ANZ’s Environment, Social and Governance (ESG) performance and challenges.

View the 2021 ESG Supplement (PDF 13.7MB)

View the 2021 ESG Data Pack (XLS 4.1MB)

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