Young Aussies are feeling the financial pressure — but they’re fighting back
Let’s be honest, managing money feels harder than ever.
P&N Group’s More than Money research, conducted by Painted Dog Research, found that 84% of Gen Z and Millennials say money worries have impacted their wellbeing, and almost half (45%) say it’s affected their mental health.
From rising rents to grocery prices that keep climbing, it’s no wonder two in five have cut back on essentials, and three in ten say financial stress impacts their sleep and confidence. Many have had to delay seeing doctors, skip nights out, or stop saving altogether.
It’s tough — but there’s good news hiding in the data too.
Turning pressure into progress
Despite the challenges, young Australians aren’t giving up.
Almost half are setting personal savings goals, and one in two are actively reviewing their spending to stay in control. Many are using budgeting apps, tracking their money weekly, and learning from podcasts or social media creators.
This drive to learn and act shows a powerful mindset shift. It’s clear young Australians want practical tools and confidence to make better financial choices, not just advice from afar.
Redefining success and financial freedom
Today’s generation is rethinking what success looks like. The research found that many value financial freedom over traditional milestones like marriage or owning a home.
Financial freedom now means not stressing about bills, having choices, and being able to say yes to experiences that matter. It’s less about how much money you have and more about how much peace of mind it gives you.
Talking about money makes it easier
The study also showed that one in four young people still see money as a taboo topic, but that’s changing. With social media and open conversations around budgeting and saving, more Australians are breaking the silence, a positive step toward better financial and emotional wellbeing.
We’re big believers in making money talk simple, honest, and practical. Whether it’s through everyday banking, digital tools, or educational resources, we’re here to help members take small steps toward financial freedom, one confident decision at a time.
You’ve got this
Yes, the pressures are real. But so is your power to change your financial story. Start small. Review your spending. Ask questions. And remember, every little step counts.
While 84% might be feeling the pressure, 100% can still take control.
Explore some of our tools and accounts that can help you achieve financial wellbeing:
Based on insights from the P&N Group More than Money Research (2025)