Australia markets closed
  • ALL ORDS

    7,554.00
    +73.30 (+0.98%)
     
  • AUD/USD

    0.6804
    +0.0008 (+0.12%)
     
  • ASX 200

    7,354.40
    +70.20 (+0.96%)
     
  • OIL

    81.51
    +0.96 (+1.19%)
     
  • GOLD

    1,797.40
    +37.50 (+2.13%)
     
  • BTC-AUD

    25,182.39
    +255.71 (+1.03%)
     
  • CMC Crypto 200

    406.24
    +5.54 (+1.38%)
     

Australia’s happiest person: The 4 things you need

A crowd of people walk on a busy Australian street.
New research has revealed the four traits of Australia's happiest person. (Source: Getty)

Who is Australia’s happiest person? According to new research from NAB, these four things are all you need.

Aussies over 65, who live in Queensland and own a house and a pet are the happiest people in the country, according to the NAB Wellbeing Index.

The research found Aussies were generally experiencing increased well-being and were noticeably less anxious compared to three months ago.

It also found that Australians living in rural areas had the highest well-being, marginally ahead of those in capital and regional cities.

Queensland also claimed the title of the country’s happiest state.

Savings aspirations among Australians remained very high, with the number of people trying to save rising to 76 per cent overall and to 96 per cent among 18-to-29-year-old women.

And pets continued to be the biggest contributor to a person’s well-being.

On top of that, expectations that wage increases would be coming were also among the reasons for the improved well-being outlook.

Happiness up but cost of living still weighing us down

The impact of rising cost-of-living pressures was still being felt by many, with one in four people saying they were financially worse off now compared to three months ago.

Rising costs were the biggest cause of stress for almost one in two surveyed (48 per cent), followed by health issues (27 per cent), personal financial issues (26 per cent), mental health (26 per cent) and the economy (21 per cent).

NAB executive Mark Bayliss said pets, relationships, our home and feeling part of our local community all contributed to well-being.

“Queensland’s known as the Sunshine State. All those rays and the laid-back lifestyle might be among the reasons why it’s Australia’s happiest state,” Bayliss said.

“Encouragingly, more Australians have reduced their household debt in the past three months and three quarters of people aspire to save.”

However, warning signs were starting to show, with 10 per cent of those surveyed saying they thought they would be worse-off, financially, in 12 months.

“It is important that anyone worried about their finances contact their bank as soon as possible,” Bayliss said.

What is the key to happiness?

For one thing, if you are able to get and take care of a pet, now might be as good a time as any.

Almost 60 per cent of those surveyed said pets had positively impacted their well-being.

Community was also key for those living in the big smoke. More than a third of Australians living in capital cities said they benefited from feeling part of their local community.

And what makes you happy is likely to change as you get older.

For example, personal safety and physical health were key drivers of well-being for 18-to-29-year-olds, while standard of living was the main driver for those aged over 65.

Follow Yahoo Finance on Facebook, LinkedIn, Instagram and Twitter, and subscribe to the free Fully Briefed daily newsletter.