Dr Morris says that while, on average, Australians who earn $74,000 or more are happier than those who don't, there are still happy people who earn less, and people who earn more but are unhappy.
Queensland claimed the title of the country's happiest state. Savings aspirations among Australians remain very high, with the number of people trying to save rising to 76% overall (73% in Q2), and to 96% among 18 to 29-year-old women. Pets continue to be the biggest contributor to a person's wellbeing.
Australia ranked higher than some similar nations including Canada (15th), the United States (16th) and the United Kingdom (17th).
Canberra is the happiest capital of Australia, according to research.
Aussies are a fairly happy bunch
Australia ranked near the top of the list in the 2022 World Happiness Report, with a happiness score of 7.162 (on the 0 to 10 scale), placing it as the 12th happiest country in the world out of 156 nations.
Living in Australia means encountering many opportunities; it is a young, multicultural and open country with an ever-growing economy. Australia's quality of life and unrivalled natural beauty make it the ideal destination for you if you have ever dreamed about improving your future.
The seven best places to live in Australia are: Adelaide, Brisbane, Canberra, Hobart, Melbourne, Perth and Sydney. We've worked out which place is best depending on what you care about most, from culture and climate to job opportunities.
Australia performs well in many dimensions of well-being relative to other countries in the Better Life Index. Australia outperforms the average in income, jobs, education, health, environmental quality, social connections, civic engagement and life satisfaction. These assessments are based on available selected data.
Keystone Private says wealthy Australians are “generally deemed to be those with net investible assets over $1 million (or net of over $2.5 million including the family home) and earning more than $250,000 per annum”. Ms Browne says building wealth does not require a $300,000 yearly income.
A common rule of thumb is to have at least three months and ideally six months worth of living expenses in your savings at a minimum. This is to ensure you can manage if you were to suddenly be out of a job, if a health problem emerges or a change in personal circumstances occurs.
As well as the beautiful beaches, Australia is also home to snowy mountains, incredible national parks, rainforests and desert. The landscape truly differs from state to state, which is why this country is so fun to explore.
It then goes on to describe those middle income Australians as individuals earning between $120,000 and $160,000 a year.
According to the PropTrack data, the most expensive suburb in the country is Bellevue Hill in Sydney's eastern suburbs, dominated by grand estates and heritage manors, with a house AVM of $8.42 million.
Cold Coast
Gold Coast is one of the cheapest places to live in Australia (89th globally). It is known for its high-standard education and academia and its budget-friendly living.
Australians are usually humble, quite welcoming, polite and contact seeking when meeting strangers. Do not be surprised that strangers greet you, look you in the eyes and start a conversation with you in situations that you perhaps never had expected someone to do in your home country.
According to Dr Tanya King, senior lecturer in anthropology from Victoria's Deakin University, “it's Australians' egalitarianism, sense of humour and informal language that are most commonly cited as examples of this attitude”.
Australians are very friendly and easy-going people. In fact, Australians are renowned for their laid-back nature and unique sense of humour. Another thing Australians are known for is their love of sport, recreation and the great outdoors.
1 in 4 Australians feel lonely. Many Australians – especially younger Australians – report anxiety about socialising. Thirty per cent don't feel part of a group of friends.
Australia and its symbols
The Australian flag has the nation's vote for being the image or symbol about which we are most proud. 95% of Australians take pride in the national flag, which is enjoying increasing popularity, with half (50%) saying that they are extremely proud.
In this way, humility is essential to social interaction. Australians are often very modest about their accomplishments and commonly self-deprecate to avoid seeming pretentious. This can sometimes be taken to extreme lengths in social circles and workplaces.