Australians demand access to financial advice
as cost-of-living concerns rise

26 May 2025  

New research from Colonial First State (CFS) has revealed the impact that a sustained period of higher living costs is having on Australians, who are now prioritising their short-term finances over their long-term financial goals.  

The research found that the cost of living remains the top concern for Australians, with more than half admitting they are more concerned than they were a year ago.  

Based on a survey of 2,250 Australians, the research found one in five (20%) want to break the cycle of living paycheck to paycheck.  

As a result, almost half of working age Australians (42%) said they would be unable to cope financially for more than three months if they lost their job or were unable to work.  

Superannuation CEO Kelly Power said the findings have identified the toll that higher living costs are having on the wellbeing of Australians.  

“One in five men and one in three women say their mental health has been negatively impacted by their financial situation,” Ms Power said. 

“At the same time, an overwhelming number of Australians are crying out for access to help, guidance and advice. We believe these findings need to be part of the national conversation about getting the right financial guidance to those who need it most,” she said.  

“Creating an environment that allows advisers to service more clients is now a matter of urgency.”