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Wellness over wealth,
Aussies redefine success,
Mindful finance breathes.
Aussies prioritise wellness over ambition: American Express' Global Trendex reveals
American Express' Global Trendex has revealed that Australians are prioritising wellness over ambition as they set their goals for 2024. The majority of Australians are focusing on being healthier (69%), improving their quality of life (64%), and enhancing their mental health (57%). These goals rank higher than being productive (34%) or successful in their careers (25%).
In the year ahead, Australians are seeking new experiences and connections, coupled with a desire to be more mindful of their finances. The year 2024 is set to be a time of re-evaluating priorities and passions, particularly in the workplace, as the need for reconnection takes centre stage. For 63% of employed Australians, work-life balance is the strongest driver of job satisfaction, with 61% preferring a better work-life balance to a higher salary.
A significant 82% of employed Australians whose workplaces offer health, wellness, and professional benefits are likely to take advantage of these benefits in 2024. Factors contributing to a healthy work-life balance were revealed to be flexible hours (66%), the ability to work from anywhere (48%), and more paid time off (40%).
Over half (54%) of those employed are likely to take a 'workcation' to blend work and personal travel passions. In 2024, over half of Australians (59%) plan to attend more live sporting events compared to last year, with 23% listing soccer as their top priority sport. A significant 72% of Australians say they're prepared to travel to see home-grown talent take to courts and pitches across Australia, and over half (53%) are likely to splurge on exclusive access tickets to secure a better seat.
In terms of personal finance resolutions for 2024, 43% of Australians are setting them. Of those with personal finance goals, half want to be more financially independent and empowered (50%), and more than a third (37%) are looking to better spend within their means. A significant 72% of Australians setting personal finance goals plan to grow their savings this year, 51% strive to budget better, and 44% plan to pay off debts in order to take back control of their finances.
"Mindful finance is moving a step beyond simply making better financial decisions. It's also about taking control, becoming financially empowered and even considering how your spending may impact others, or the environment. As Aussies continue to learn and evolve from the current financial landscape, they're also looking at how to make the most of day-to-day spending," said Corinne Ng, Vice President and General Manager of Travel and Lifestyle Services, American Express Asia Pacific.
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