Even in the good times Australians still worry about money
ANZ and Pacific Magazines today released a comprehensive survey into Australians’ money confidence which found that even when things are going well, almost 40% of respondents ‘stress out’ about money, and women tend to worry more about money issues than men.
Australia’s Money Confidence 2013 asked almost 12,000 Australians how they think and feel about money. It also found 61% of people who are confident about their future financial security have put plans in place to help achieve major goals, while most of those who aren’t confident know they should have a plan, but keep putting it off.
ANZ Managing Director of Retail Distribution, Mark Hand, said: “The research looks at how people think and feel about money, and shows that a lot of Australians worry about their finances, even when things are going well. We understand these concerns and encourage all Australians to take action to build their money confidence, rather than putting it off or trying not to think about it.
“Speaking with an expert at your local branch can be the first step in taking control and putting a plan in place which, as we can see from the survey, can make a real difference to our health and wellbeing. A proactive plan can also help you make the most of your money and achieve goals faster, regardless of changes to the economy or other factors outside of your control,” Mr Hand said.
Editor and Publisher of marie claire magazine, Jackie Frank, said: “This latest research underscores how the financial confidence of everyday Australians remains a national issue – and it’s having a huge impact on our physical and emotional lives. Most of us aren’t afraid to discuss these fears with our friends and family – but more of us need to know how to take concrete steps to achieve our goals and, most importantly, look after our wellbeing.”
People who are worried about their money situation can also benefit from an A-Z Review® – a complimentary one-on-one session with an ANZ banking specialist, who can explore their current financial situation and goals for the future in order to identify solutions that can help them get there faster.
In response to these insights, ANZ has also built a new website which highlights actions Australians can take to build their money confidence. The first step is asking an expert for help, with other tips to help people become more educated about money matters, sort out their super, and protecting the things that matter through insurance. Visit anz.com/moneyconfidence.