Australians experiencing poor physical or mental health will be more likely to experience low financial wellbeing, according to an ANZ survey. In ANZ’s latest financial wellbeing survey of 3,550 randomly selected Australians, 68 percent were struggling financially also described their mental health as fair or poor, compared to 28 percent overall. Similarly, 57 percent of Australians struggling financially said they had fair or poor physical health, compared to 27 percent overall. Professor Elaine Kempson from the University of Bristol defines financial wellbeing as a combination of two factors—how much money you have and what you do with it. Four-in-five Australians were confident in their ability to manage money day-to-day. Around 37 percent of Australians have more than six months of saved income, but 14 percent reported having no savings at all. Men were generally found to have higher financial well-being than women, with an average score of 66 and 62, …
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