One in 10 adult Australians are struggling with their finances and 17 per cent are just “getting by”, according to the latest ANZ Financial Wellbeing report.

Most (86 per cent) of those in the struggling group and 63 per cent of those in the getting by group are anxious about their future financial situation.

Indicators of financial wellbeing include active saving, not borrowing for everyday expenses, spending restraint and investing.

The report is based on an online survey of 3552 Australian adults conducted by Roy Morgan in May and June this year. The survey methodology has changed since the last survey, in 2017, so the results were not compared.

People in the struggling category were much less likely to have sought information, guidance or support with their finances from formal sources in the previous 12 months. 

Seventy-six per cent said they rarely or never had money left over after food and other regular expenses.

Members of the group were less likely to be employed full-time and average household income was under $35,000. 

Eighteen per cent had a payday loan and 41 per cent had a buy now pay later account, compared with 20 per cent of all respondents. Sixteen per cent were unable to make a payment “several times a year or most months”.

Three-quarters (73 per cent) of struggles said they had no savings and 82 per cent would not be able to fund an unexpected expense equivalent to a month’s income.

Only a third (33 per cent) have home and contents insurance, compared with 58 per cent of all respondents.