What Money Means to Australian Households

With all the current challenges around cost of living, 13,800 Australian households shared their long-term thoughts about what money means for them.  Whilst most insights confirm some sage thinking, there remains a big gap between what we aspire to have versus what we end up with.  

Moorr, a personal finance & wealth building platform, have just released the results of its ‘What Does Money Mean for You’ survey.   

Designed to help everyday Aussies think about what and how having money can best serve them over time, 13,832 Moorr users picked from a list of 54 different options on what money means to them. 

“I’ve interviewed and spoken to thousands of people about what money means and provides for them, and many often struggle to articulate their thoughts on this subject.  That’s why we introduced a questionnaire like this because it helps people think more deeply about and explore how money will best serve them. Having this big picture clarity also makes the next steps of planning and setting about achieving these outcomes more connected and tangible,” said Ben Kingsley, one of the co-creators of Moorr.    

Not surprisingly, ‘Security’ ranked at the very top of the list, with 10,406 users selecting it as part of their core items of importance.  That result was a tick over 75% of all respondents. 

Drawing further focus on the importance of financial safety was ‘Stability’ (7,406) which came in at number 7 and ‘Peace of Mind’ (6959) which ranked at number 9. 

The Top 10 results were: 

  1. Security 
  2. Freedom 
  3. Work-Life Balance 
  4. Providing for Family 
  5. Travel 
  6. Time with Family 
  7. Stability 
  8. Comfort 
  9. Peace of Mind 
  10. Lifestyle Choices 

At least one or more of the top 10 selections were found in almost 50% of all questionnaires completed. 

“When you look at this top 10 list, you really get a sense of what is important for most Australians.  They want to be financially secure, and they want to take care of themselves and their families. They also want more free time, for which travelling is a high priority for many,” Kingsley explained. 

With such a large list of categories (54) to choose from, the questionnaire was designed to explore the several different impacts money can and does have on our lives – from its functional utility as the universal exchange for goods and services, to consideration to the time it takes us to earn it and some of the more intangible outcomes in terms of how it can make us feel or behave.   

Some of the more surprising results included ‘Better Health’ which only ranked 25th on the list, when many believe ‘your health is your wealth’.  Also, a ‘Better Home’ only ranked 30th on the list, when property website and home improvement shows are considered a favourite pastime for many Australians.   

A lower ranking of these two categories could be the result of a younger user profile on the Moorr platform as well as those who are currently content with their homes. 

Of the other more interesting results in the data is where ‘Control’ ranked – at number 22. This ranking confirms what many money experts who help Australian households manage and invest their money observe, and that is, effort and over-confidence. 

“From years of experience in dealing with folks in this space, the biggest gap in terms of wanting financial stability versus achieving financial stability is the lack of effort – in terms of the time, attention and trade-off decisions that need to be made for some delayed gratification. The other big one is over-confidence, where they think they are pretty good money managers, but in fact there are opportunities for improvement in lots of places, and that’s usually resulting in their money not working as hard as it could be for them,” said Kingsley. 

As values and priorities differ from person to person and household to household, it is important to think about your own relationship with money and how it can best serve you, rather than you being a slave to it. Questionnaires like this make you think about money in terms of personal well-being & growth, relationships & family, lifestyle & enjoyment, and finally social impact & contribution.  

Kingsley said;

“The more you think about what money means to you, the more you bring it into your conscious thought and hopefully your future actions.”  


About the ‘What Does Money Mean to You’ Questionnaire Results 

Results are anonymised aggregated totals by users who have completed the questionnaire within the Discovery Section of the web version of the Moorr platform.   

Category Count 
Security 10406 
Freedom 9692 
Work life balance 8837 
Providing for family 8463 
Travel 7842 
Time with family 7623 
Stability 7406 
Comfort 7397 
Peace of mind 6959 
Lifestyle choices 6710 
Improved lifestyle 6692 
Growth 6193 
Choose what i want to do 5922 
Work less 5921 
Happiness 5117 
Personal time 5082 
Take care of yourself 5013 
Success 4657 
Relaxation 4610 
Time for hobbies 4535 
Adventure 4473 
Control 4449 
Generosity 4422 
Realising dreams 3992 
Better health 3861 
Accomplishment 3784 
Better education for kids 3430 
Fulfillment 3396 
Purposeful life 3330 
Better home 3279 
Finer things in life 2971 
Optimism 2882 
Self worth 2634 
Volunteer work 2485 
Self confidence 2482 
Help society 2430 
Inspiring others 2427 
Pride 2113 
Start own business 2029 
Not wanting for anything 1967 
Holiday home 1865 
Results 1829 
Abundance 1619 
Quiet times 1318 
Power 1250 
Better car 1185 
Compassion 1118 
More big kids toys 1026 
Study again 1004 
Influence 963 
Actualisation 707 
Style and grace 655 
Recognition 477 
More jewellery 112 
Total Completed Questionnaires  13,832 


You might also be interested in

Try Moorr For Free Today

Spend money on the things you want without guilt and save for the future with confidence. You can have the best of both worlds. Achieve more, with Moorr

Privacy Policy

This following document sets forth the Privacy Policy for this website. We are bound by the Privacy Act 1988 (Crh), which sets out a number of principles concerning the privacy of individuals using this website.

Collection of your personal information

We collect Non-Personally Identifiable Information from visitors to this Website. Non-Personally Identifiable Information is information that cannot by itself be used to identify a particular person or entity, and may include your IP host address, pages viewed, browser type, Internet browsing and usage habits, advertisements that you click on, Internet Service Provider, domain name, the time/date of your visit to this Website, the referring URL and your computer’s operating system.

Free offers & opt-ins

Participation in providing your email address in return for an offer from this site is completely voluntary and the user therefore has a choice whether or not to disclose your information. You may unsubscribe at any time so that you will not receive future emails.

Sharing of your personal information

Your personal information that we collect as a result of you purchasing our products & services, will NOT be shared with any third party, nor will it be used for unsolicited email marketing or spam. We may send you occasional marketing material in relation to our design services.

What Information Do We Collect?

If you choose to correspond with us through email, we may retain the content of your email messages together with your email address and our responses.

Cookie Based Marketing

Some of our advertising campaigns may track users across different websites for the purpose of displaying advertising. We do not know which specific website are used in these campaigns, but you should assume tracking occurs, and if this is an issue you should turn-off third party cookies in your web browser.

How Do We Use Information We Collect from Cookies?

As you visit and browse Our Website, the Our Website uses cookies to differentiate you from other users. In some cases, we also use cookies to prevent you from having to log in more than is necessary for security. Cookies, in conjunction with our web server log files or pixels, allow us to calculate the aggregate number of people visiting Our Website and which parts of the site are most popular. This helps us gather feedback to constantly improve Our Website and better serve our clients. Cookies and pixels do not allow us to gather any personal information about you and we do not intentionally store any personal information that your browser provided to us in your cookies.

IP Addresses

P addresses are used by your computer every time you are connected to the Internet. Your IP address is a number that is used by computers on the network to identify your computer. IP addresses are automatically collected by our web server as part of demographic and profile data known as traffic data so that data (such as the Web pages you request) can be sent to you.

Sharing and Selling Information

We do not share, sell, lend or lease any of the information that uniquely identify a subscriber (such as email addresses or personal details) with anyone except to the extent it is necessary to process transactions or provide Services that you have requested.

How Can You Access and Correct Your Information?

You may request access to all your personally identifiable information that we collect online and maintain in our database by using our contact page form.

Changes to this Privacy Policy

We reserve the right to make amendments to this Privacy Policy at any time. If you have objections to the Privacy Policy, you should not access or use this website. You may contact us at any time with regards to this privacy policy.