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Are you worried about the economy’s impact on your household budget?

Media release - 30 Oct 2023

You’re not alone. More than four in five Australians have this same concern, according to a recent survey commissioned by Australian Retirement Trust (ART). Here are some steps to follow and handy resources to help you take control of your finances.

Outcomes from the study

The Finance and Superannuation Study, prepared for ART by YouGov, reveals that although many Australians are confident about managing their household finances, they’re feeling the impact of the economy. Conducted online between 28 September and 6 October 2022, this survey of 2,113 Australians aged over 18 who have super and are not retired shows:

  • More than four in five (84%) respondents feel confident in their ability to manage their household finances, including nearly two in five (37%) who say that they feel very confident.
  • Despite the relatively high level of confidence in managing household finances, more than four in five (85%) respondents are worried about the impact recent economic events could have on their household budget, including 37% who are very worried.

This high level of worry about the impact of the economy is reflected across different gender and age cohorts, although there are differences:

  • Women are more likely to be worried than men: 88% compared to 82%.
  • Millennials are more likely to be worried than Baby Boomers: 88% compared to 81%.

High earners with a household income over $150,000, are the least concerned about the economy’s impact to their household budget, with 76% of respondents identifying it as a concern. Other household income levels showed consistently higher levels of worry:

  • $100,000–$149,000: 84%
  • $50,000–$99,000: 89%
  • Under $50,000: 86%

What steps can you take if you’re feeling the pinch?

Financial advice – If an ART member doesn't have a financial adviser, ART has qualified financial advisers1 who can help them over the phone with simple advice about their Super Savings account. This service is included with ART membership. We can also help identify if they need comprehensive advice and may be able to refer them to an accredited adviser on our National Advice Panel.2 Advice of this nature may incur a fee. You can find out more about our financial advice options at

Education hub – What do the economy and investment markets mean for your super? You can access information like this through articles, videos and podcasts from ART experts. Benefit from the flexibility to learn what, where and how you want.

Tools & Calculators – Our step-by-step calculators help you with growing your super balance, retirement planning and insurance through an ART super account.

Early access to super – If you’ve exhausted your options and are experiencing severe financial hardship, withdrawing some of your super early may be possible under special circumstances. It’s important you understand all the options when it comes to accessing your super - specific rules are outlined on our website.

Other handy resources

The MoneySmart Budget planner is an online budget template with features you may find useful, such as creating your own custom items. Your budget can be printed, saved to your computer or mobile device and there is an Excel spreadsheet version if you want to access your budget across multiple devices.

If you or someone you know is struggling with bills and debt, financial counselling is a free service offered by not-for-profit community organisations. The MoneySmart website provides information on what financial counsellors do and contact information for financial counsellors.

1. Employees in the Australian Retirement Trust group provide advice to members and employers as representatives of Sunsuper Financial Services Pty Ltd (ABN 50 087 154 818 AFSL No. 227867) (SFS), that is wholly owned by the Trustee as an asset of Australian Retirement Trust. SFS is a separate legal entity responsible for the financial services it provides. Eligibility conditions apply. Refer to the Financial Services Guide (FSG) at for more information.

2. The Trustee has established a panel of accredited external financial advisers who are not employees of the Australian Retirement Trust group. The Trustee is not responsible for the advice provided by these advisers and does not receive or pay any referral fees. These advisers will explain to you how their advice fees are determined.