Australian Consumer Financial Wellbeing Report

  • 1 March 2021
  • < 1 minute read

This research publication is developed by Commonwealth Bank of Australia and the Melbourne Institute. The original publication can be found here. 


The Australian Consumer Financial Wellbeing Report provides a nationally representative view of Australians’ financial wellbeing, and the annual rate of change.

Based on the actual transactional and account data of over five million CommBank customers who do most, or all, of their personal banking with CommBank, the report tracks financial wellbeing outcomes experienced by more than one quarter of the Australian adult population.

The report’s methodology draws on the Melbourne Institute (MI) Observed Financial Wellbeing Scale, developed by the Melbourne Institute: Applied Economic & Social Research at the University of Melbourne. The scale is not simply a measure of income or wealth, but, more importantly, a measure of the extent to which Australians have;

  • Financial outcomes in which they meet their financial obligations;
  • Financial freedom to make choices that allow them to enjoy life;
  • Control of their finances; and
  • Financial security – now, in the future, and under possible adverse circumstances.

Five major indicators of financial wellbeing are combined to produce a single score, from zero (low) to 100 (high) calculated on 12 months of data.