Breaking point: 9.2 million Aussies have less than $1,000 in savings
Millions of Australians are one unexpected bill away from crisis, according to new research by Finder.
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Finder's Consumer Sentiment Tracker of 1,310 respondents revealed 2 in 5 (43%) Australians – equivalent to 9.2 million people – have less than $1,000 in their bank account.
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Of those who have less than $1,000 on hand, the average bank balance is just $215 – barely enough to pay for groceries.
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More than half (52%) admit they are living month to month, and shockingly, almost 1 in 5 (18%) – equivalent to 3.8 million people – say they have $0 in savings.
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However, there's a stark contrast between the haves and the have nots, with the average Australian reporting to have a staggering $43,007 in the bank.
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Sarah Megginson, personal finance expert at Finder, said Australian households are facing unprecedented financial pressure, with many pushed to their absolute limits.
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"The nation's savings crisis has hit a breaking point, and it's pushing millions to the edge of financial ruin.
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"For many households, even an unexpected minor expense like a cracked windscreen or an emergency trip to the dentist, it would be enough to cause serious financial stress."
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Megginson said those households with lower savings don't have as much of a savings buffer, so they're at a higher risk of falling into debt.
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"While tools like credit cards, personal loans, and buy-now-pay-later services can be helpful, using them for everyday expenses can quickly lead to a spiraling financial situation."
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Megginson said ideally, Aussies should aim to build an emergency fund equivalent to three months of living expenses, so you have enough to cover you in an emergency.
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"You can find a number of areas where you can save on everyday expenses – saving $50 on your monthly car insurance, for instance, could add up to an extra $600 by the end of the year.
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"Parking your savings in a high-interest savings account can also boost your balance compared to a standard transaction account.
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"For instance, a recurring investment of $150 a month into a high-interest savings account paying 5% interest could grow to $5,813 in just three years."
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How much do Australians have in savings?
| Average Australian | Household income of less than $10,000–$49,999 | Household income of $50,000–$99,999 | Household income of $100,000–$250,000+ | |
| Percentage with less than $1K in savings | 43% | 56% | 37% | 21% |
| Percentage with $0 saved | 18% | 25% | 15% | 7% |
| Source: Finder's Consumer Sentiment, May 2025 |  |
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Sources
Methodology
- Finder's Consumer Sentiment Tracker is a monthly recurring nationally representative survey of more than 60,000 respondents.
- Figures in this release are based on 1,310 respondents from May 2025.
- The Consumer Sentiment Tracker is owned by Finder and operated by Qualtrics.
- The survey has been running monthly since May 2019.
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