By Catherine Mulholland, Otivo
Two in three Australian workers who have a financial plan told us they aren't worried about their personal finances. That's a striking number on its own, but it becomes more interesting when you notice what it doesn't say. It doesn't say they earn more. It doesn't say they have more. What separates them from everyone else isn't the size of the balance — it's that they know what's coming, and roughly when. Here's what our research found, why certainty seems to do the heavy lifting, and the three unknowns a plan is actually removing.
Quick answer
Otivo's Financial Fitness of Working Australians research found that two in three Australian workers with a financial plan were not worried about their personal finances, against a broader population in which more than half reported worry about money. The association appears to run through predictability rather than income — a plan converts open-ended financial questions into dated, sized ones.
What does the research actually show?
Three findings sit alongside each other. More than half of Australia's workers reported being worried about their personal finances, and one in three said their financial situation was a major cause of stress. Among workers who had a financial plan, two in three said they weren't worried. And 34% of people told us they were less worried about their finances after using Otivo.
An honest caveat belongs here. This is an association, not proof of cause. It's entirely plausible that people who are already less anxious about money are more likely to sit down and make a plan. What the numbers show is that the two travel together, consistently, across income levels — which is the part worth paying attention to.
Why would certainty matter more than the balance?
Because financial worry is rarely about a number. It's about not knowing a number.
"Can we afford this?" is not a stressful question when you know the answer. It becomes stressful when the honest response is "I'm not sure", because the mind fills that gap with the worst plausible version. A 41-year-old with $8,000 in savings and a clear view of their next six months of expenses will generally sleep better than someone with $30,000 and no idea what leaves their account each month.
That's also why plans help people who are genuinely short of money, not just people who are comfortable. Knowing that things are tight until March is difficult. Suspecting things might be tight indefinitely is worse.
The three unknowns a plan removes
A plan doesn't need to be elaborate. What it needs to do is answer three questions with actual figures.
- What comes in and what goes out. Three months of transactions, categorised. This is the least glamorous step and the one that changes the most, because almost everyone is wrong about at least one category. ASIC's MoneySmart budget planner is free, and Otivo's expense tracker will do it automatically if you link the account you transact with.
- What happens if something breaks. A number and a date: how much is set aside, and how many weeks of essential expenses it covers. Not a feeling about whether you'd cope.
- Where this ends up. What the current trajectory produces by the time you stop working. Otivo's retirement planning module shows that figure and what moves it, which turns retirement from an abstract worry into something with dimensions.
Once those three have answers, most of what was worrying you has either been resolved or has become a specific, sized problem. Specific problems are far easier to live with than vague ones.
Where debt fits into this
Debt is the area where uncertainty compounds fastest, because the balance moves on its own while you're not looking. It's also where a plan tends to produce the quickest change in how people feel, often before it produces much change in what they owe.
Seeing a payoff date is the mechanism. A credit card balance with no end point in view sits differently to the same balance with "clear in March 2028" attached to it. Otivo's debt advice module produces that date across the debts you already hold and shows what shifts it. Otivo Pty Ltd holds AFSL and Australian Credit Licence No. 485665.
Frequently asked questions
Do I need a lot of money for a financial plan to be worth making?
No, and the research suggests the opposite is closer to the truth. The people with the most to gain from knowing exactly where they stand are usually the ones with the least room for a surprise.
How long does it take to make one?
Getting a first version in place is generally an evening's work — a few months of statements, a list of debts and balances, and your super details from myGov. Refining it happens over time. The version that exists beats the version that would have been thorough.
Can a financial plan help with anxiety about money?
It can reduce the uncertainty that drives a lot of financial worry, and our research shows the two are associated. It isn't a treatment for anxiety or any other health condition. If money worry is affecting your sleep, your relationships or your health, speaking with a GP or a mental health professional is worth doing alongside anything financial.
Where can I get help if things are already difficult?
Free financial counselling is available through the National Debt Helpline on 1800 007 007, independent of any lender. R U OK? Day, which falls on 10 September in 2026, exists as a prompt to ask the people around you a direct question and to listen properly to the answer. Lifeline is available on 13 11 14 at any hour.
Nobody makes a plan because they enjoy spreadsheets. They make one because not knowing is exhausting, and because a dated, sized problem is a substantially lighter thing to carry than an open question.
Sources
- Otivo, Financial Fitness of Working Australians research, 2020.
- Otivo, Financial Stress of Australian Workers, 2020.
- ASIC MoneySmart, Budget planner.
- R U OK?
- National Debt Helpline.
Disclaimer
The information in this communication is current as at August 2026 and has been prepared by Otivo Pty Ltd ABN 47 602 457 732, AFSL and Australian Credit Licence No. 485665. This content is general information only and has been prepared without taking into account your objectives, financial situation or needs. It is not personal financial or taxation advice and should not be relied on as such. Before acting on any information, you should consider its appropriateness having regard to your personal circumstances. This material must not be reproduced in whole or in part, or posted on any social media platform, without the prior written consent of Otivo Pty Ltd.