NAB Assist on state of financial health in Australia

National Australia Bank

NAB research today reveals that while Australians are generally coping well financially and making ends meet, one in five say they have felt financially stressed in the last 90 days.

On average, Australians scored a modest 4.4 pts out of 10, where 10 signals they are struggling very much. One in two low-income earners also said they faced some form of financial hardship in the past three months.

NAB Group Executive Personal Banking, Rachel Slade, said while most customers were in a good financial position, the average masked some pockets of concern.

“70% of NAB customers are ahead on their home loan payments but we do know there are some people who are feeling the pressure of an increased cost of living,” Ms Slade said.

“This research brings to life exactly the concerns customers are raising with our NAB Assist team.”

Ms Slade said the survey of 2,050 Australians shows that financial difficulty can show up in a range of ways.

“Finding yourself in financial difficulty can mean being unable to pay a bill, cover rent on time, meet minimum credit card payments or being unable take care of medical expenses,” she said.

“Regardless of what challenges you are coming up against, if you are feeling financial pressure, we want to talk with you.

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