Aussies have bigger priorities than money

By Aidan Devine | 13 Dec 2011

Nearly half of Australians list property ownership as a long-term goal, but just over 10% rank it as a way to measure their prosperity.

The rediATM Prosperity Survey, commissioned by credit union network Cuscal, found that Australians rate intangibles as better measures of prosperity than actual assets.

The survey’s respondents listed factors such as health, family wellbeing and love or partnership as more important indicators of prosperity than home ownership. Gen Y respondents were particularly keen on love and relationships, ranking them the number one measure of prosperity.

“Many Australians are now reassessing how they view their broader personal wealth with traditional aspirations such as health, happiness and family wellbeing increasingly being prioritised as more important than material or financial gain,” Cuscal general manager David Heine said.

These shifting priorities were reflected in the sacrifices respondents said they were willing to make. Sixty-three per cent said they would forgo travel in order to prioritise their family’s health, their children’s education and home ownership, while 53% said they would put off home renovations to meet other family needs.

The survey also revealed a reasonable degree of optimism, with 46% of respondents saying they felt at least “quite prosperous” in some way.

This optimism was tinged with caution, though. Ninety per cent of respondents said they were struggling in some way to meet prosperity goals, and 25% said their primary struggle was simply not having enough money.

Top Suburbs : wentworthville , homebush , collingwood , balga , gladesville


Get help with your investment property

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local mortgage broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus an appointment is free.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here