ANZ Roy Morgan Financial Wellbeing Indicator December 2022
The ANZ Roy Morgan Financial Wellbeing Indicator (FWBI) provides insight into how factors affecting the financial lives of Australians impact their financial wellbeing over time. The FWBI is reported as a 12-month moving average, with regular updates showing the movement in aspects of financial wellbeing across locations and for a range of segments in the community.
This update examines how financial wellbeing changed in 2022, comparing September 2022 with April 2022, immediately prior to the beginning of the latest interest rate tightening cycle. The financial wellbeing of Australians is experiencing a ‘double dip’ since the onset of the pandemic. Our August 2022 update highlighted how financial wellbeing had already declined between January and April 2022 as Omicron cases surged and publicity about inflation and potential interest rate rises increased. This update shows that Australia’s financial wellbeing continued to decline after the first cash rate increase on 3 May 2022 and inflation continued to rise.
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Margin of Error
The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.
| Sample Size | Percentage Estimate |
| 40% – 60% | 25% or 75% | 10% or 90% | 5% or 95% | |
| 1,000 | ±3.0 | ±2.7 | ±1.9 | ±1.3 |
| 5,000 | ±1.4 | ±1.2 | ±0.8 | ±0.6 |
| 7,500 | ±1.1 | ±1.0 | ±0.7 | ±0.5 |
| 10,000 | ±1.0 | ±0.9 | ±0.6 | ±0.4 |
| 20,000 | ±0.7 | ±0.6 | ±0.4 | ±0.3 |
| 50,000 | ±0.4 | ±0.4 | ±0.3 | ±0.2 |
