Financial and Psychological Reverberations During COVID-19: Evidence for Individual and Generational Turning Points?

This paper provides an overview of the financial and psychological reverberations being felt by sections of the Australian population during the COVID-19 pandemic. It considers the interplay between economic forces, financial resources and psychological reactions during the pandemic and whether the outcomes will manifest in ongoing changes to how individuals and generational cohorts consider and plan for their financial futures. In particular, financial stress, mental distress, financial risk attitudes and risk tolerance are considered in the light of lasting changes resulting from past financial and socio-historical events.