2024 Financial Wellness
The last few years have been particularly hard on Aussies, with AMP’s Financial Wellness Index revealing that a significant portion of the population feels moderately or severely financially stressed. And, with only one-third of Australians feeling financially secure, the nation’s current financial wellness is far from ideal.
Although various issues and personal, societal, and economic implications must be addressed to improve Australia’s financial wellness, we hope for a brighter future for the nation.
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Aussies are feeling the impact of the financial landscape
Over six million Aussies are feeling moderately or severely financially stressed. The broader financial landscape is affecting mental well-being and performance at work.
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Most Aussies aren’t considering seeking financial advice
Despite experiencing financial stress, many Aussies aren’t actively seeking professional financial advice, even though it could help improve their financial position.
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One million Aussies may be at risk of mortgage default
As the cost of living continues to rise, close to one-third of homeowners may be unable to sustain their mortgage repayments should interest rates rise further.
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Aussies are becoming less social, and their mental health is suffering
As Aussies cut back on their spending, they’re also becoming less social. Just 22% of Australians who are feeling financially stressed are happy with their life.
A message from Diana, Sean and Melinda
The results of the 2024 AMP Financial Wellness report are in. Join Diana Mousina, Deputy Chief Economist as she hosts Sean O'Malley, Group Executive of AMP Bank and Melinda Howes, Group Executive AMP Super, and together they unpack the report's findings and discuss how AMP can support Aussies who are feeling financially stressed.
Understand money and take control of your finances
By better understanding your money and the concepts that surround it, you can take the reins on your finances and have greater control of your future. There’s never been a better time to build your financial know-how.
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State of the nation – the AMP Financial Wellness Report 2024 How we’re feeling about our finances and what we can do about it.
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A Resilient Crew – Australia’s Small Business Owners The AMP Financial Wellness Report 2024 shines a light on the benefits and challenges of running your own show.
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Firm Foundations – How We’re Beating The Financial Blues Getting the basics right – budgeting, saving and spending – can help improve your financial wellbeing.
How AMP can help you get ahead
Many Australians aim to achieve financial wellness, ensuring they can cover everyday expenses and be prepared for whatever challenges the future may hold.
Are you looking to take control of your money and improve your financial wellness? Here are some of the ways AMP can help you work towards your goals.
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Super health check Want to understand how your super investment options can help grow your retirement savings? If you’re an AMP Super member you can book in for a super health check, with no extra fees.
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Budget planner calculator The budget planner calculator can give you a birds eye view of your money. It breaks down your income and expenses into weekly, fortnightly, monthly and annual figures and provides you with how much your overall shortfall or surplus is.
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Financial advice Many people seek financial advice during a life event such as starting a family or leading up to retirement, but it can help you take control of your finances and goals at any stage of your life.
Struggling to make ends meet?
We can’t always predict what’s going to happen in life. From unprecedented cost of living pressures and frequent interest rate rises to redundancies and other big life events, sometimes our financial situation can change sooner than we’d ever envisioned. If you’re unsure of how to get your finances back on track, we’re here to help. We can assist you in taking control of your situation and planning your next steps.
Important information
Any advice and information is provided by AWM Services Pty Ltd ABN 15 139 353 496, AFSL No. 366121 (AWM Services) and is general in nature. It hasn’t taken your financial or personal circumstances into account.
It’s important to consider your particular circumstances and read the relevant product disclosure statement, Target Market Determination or terms and conditions, available from AMP at amp.com.au, or by calling 131 267, before deciding what’s right for you.
You can read our Financial Services Guide online for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. You can also ask us for a hardcopy.
All information on this website is subject to change without notice. AWM Services is part of the AMP group.
Products in the AMP Super Fund and the Wealth Personal Superannuation and Pension Fund are issued by N.M. Superannuation Proprietary Limited (N.M. Super) ABN 31 008 428 322 (trustee), which is part of the AMP group (AMP).
The super coach session is a super health check and is provided by AWM Services. It is general advice conversation only. It does not consider your personal circumstances.
Terms, conditions and footnotes