The next move in the Reserve Bank of Australia’s cash rate is likely to be down, but the timing remains uncertain, according to the latest NAB Economics RBA Watch.
09 June 2026 | 3 min read
16 February 2026
Wellbeing Dips but Financial Resilience & Support Networks Hold
The NAB Australian Wellbeing Index fell in the December quarter (after rising for two quarters), to below long-term average levels. Age and income divisions have widened and explain much of the divergence in wellbeing, highlighting the value of targeted support for those most in need.
Older Australians, on average, report significantly higher wellbeing, lower financial stress, and greater satisfaction across lifestyle, financial, and emotional measures. By contrast, young adults face the highest stress, frequent difficulties with essential expenses, and a pronounced inability to raise emergency funds. Migrants, especially those who have arrived in the past five years, remain considerably more optimistic about the future than Australian-born individuals.
While overall wellbeing has softened, Australians continue to demonstrate resilience and adaptability. Many are focusing on what matters most - education, housing, safety, and family life - and more feel empowered and in control of their futures than before. Despite economic pressures, most are prioritising saving and cautious financial management, with younger people particularly motivated to build financial security. Social cohesion is also strong, with parental and grandparental financial support for adult children rising - now present in about one in seven households.
In summary, while Australians are navigating increased financial and emotional pressures, the data highlights a community that remains proactive, adaptable, and strongly committed to preserving wellbeing.
NAB Australian Wellbeing Survey Q4 2025 (PDF, 2MB)
About the Survey
The NAB Wellbeing Survey looks at how Australians feel about their lives in response to changing economic and social conditions and personal finances. By exploring resilience and vulnerability, the survey reveals the underlying forces shaping people’s life satisfaction, sense of control, and adaptability. The survey is conducted quarterly to provide a dynamic picture of wellbeing that shifts over time with changing circumstances, offering a genuine snapshot of Australians lived experience.
