Love and money both crucial for Australian wellbeing

A new Australian study has found that the people with the greatest sense of wellbeing are those 76 and over with a household income of at least $61,000 to $90,000 and that the two most important supports for wellbeing overall are a good relationship and financial security.

Deakin University and Australian Unity produced the Australian Unity Wellbeing index report after sampling around 30,000 people over a six year research period and chartered the sub groups in the population with the highest and lowest wellbeing in the country.

Professor Bob Cummins of Deakin University, said that the two most powerful factors to maintain a positive sense of wellbeing were for people to work on their relationships and manage their finances effectively.

“People with extremely high wellbeing tend to be wealthier people living with their partner.

“At the opposite end of the wellbeing scale, the members of this group have a low income, they do not have a partner, and unemployment also comes into the picture.

“If divorce or separation is added to the mix the effect on wellbeing is devastating,” Professor Cummins said.

The report also found that while having a partner and financial security were both important for maintaining wellbeing, having a partner was the most crucial.

The results showed that of people across all income groups those with a partner had the higher level of wellbeing.