Financial hardship and caregiver wellbeing, 2020 to 2026: Three Australian cross-sectional surveys
Melbourne Institute Working Paper No. 11/26
Date: August 2026
Author(s):
Abstract
Background: Household finances are a fundamental determinant of children’s and their caregivers’ health and wellbeing. However, little is known about how families’ financial hardship and wellbeing have evolved since the COVID-19 pandemic, and whether the experiences of caregivers differ from the general adult population. We hypothesised that caregivers of children would experience greater financial hardship than adults overall and that financial hardship would be consistently associated with poorer wellbeing. Methods: We analysed repeated cross-sectional data from three nationally representative Australian surveys conducted between 2020 and 2026: Taking the Pulse of the Nation (81,057 adults; 23,777 caregivers), Australian Unity Wellbeing Index (12,080 adults; 2,868 caregivers), and Royal Children’s Hospital National Child Health Poll (16,047 caregivers). Financial hardship was measured using financial stress and material deprivation. Wellbeing was measured using mental health and life satisfaction. Weighted prevalence estimates, trend analyses, and adjusted logistic regression models were conducted. Results: Financial hardship and poor mental health remained common and relatively stable throughout the study period. Caregivers consistently experienced greater financial hardship than adults overall, whereas differences in wellbeing were smaller and less consistent. Financial hardship was strongly associated with poor mental health (8-33 percentage points) and low life satisfaction (11-31 percentage points). Conclusions: Financial hardship and poor wellbeing affected a substantial proportion of caregivers from 2020 to 2026. Affordability pressures continue to affect families in many high-income countries. Recognising and responding to financial hardship should form part of efforts to support caregiver wellbeing, family wellbeing, and healthy child development.
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