Eight key themes emerging from Ecstra’s roundtables on financial wellbeing

Following the launch of Australia’s financial wellbeing: an integrated approach, Ecstra Foundation held two roundtables to discuss the report’s findings and identify what factors could make the biggest difference to financial wellbeing in Australia. The first roundtable was held in Sydney on 30 July 2026, followed by the second in Melbourne on 15 September 2026. Hon Prof Roslyn Russell presented key findings from her report, followed by facilitated discussions with participants representing government, community organisations, regulators, consumer advocacy, financial services, education and industry.  

Across both sessions, a range of perspectives were shared, and a consistent picture emerged. Roundtable participants strongly supported the report’s central position that financial wellbeing is shaped by interconnected systems, rather than by individual knowledge and behaviours alone. There was also broad agreement that addressing the many complex issues the report raises will require greater coordination, earlier intervention and stronger leadership across the system as a whole to effect change.             
 
Below, we outline some of the key themes that came out of the discussions.  

Financial wellbeing is a systems issue 

The strongest and most consistent theme across both roundtables was that financial wellbeing should be understood as an outcome of interacting systems, including health, technology, education, employment, income support, housing, financial services and consumer markets. Some participants noted that current approaches tend to focus too heavily on individual responsibility or blame, while failing to address the many systemic barriers and drivers of financial wellbeing.  

It was also noted that people experiencing the greatest disadvantage often face the greatest costs when systems and services fail to coordinate, and problems frequently move between systems while accountability remains fragmented. There was consensus on the need for more integrated, person-centred approaches that better reflect how people navigate multiple systems in their daily lives. 

Prevention and early intervention are important opportunities 

Participants consistently emphasised the need to shift effort and investment upstream, as existing services tend to engage with people only after financial difficulties have become severe or have multiplied. Many advocated for approaches that intervene early to prevent financial stresses escalating to a crisis in the first place. Practical examples to address this include earlier identification of financial stress, more proactive responses from utilities, financial and service providers, and delivering financial coaching and capability supports before hardship occurs. Participants frequently drew parallels with public health approaches, pointing to the increased understanding of the value of prevention and coordinated action across sectors, particularly in health and early childhood service settings. 

Moving towards a coordinated national strategy approach 

A key theme across the sessions was the absence of a shared national framework or strategy for financial wellbeing and capability. Participants raised concerns that responsibility is dispersed across organisations and government agencies, leading to fragmented efforts and duplication. Many referred to the themes in Ecstra’s Call to Action, and agreed that a national strategy could provide a common vision, improve coordination and establish accountability. Several participants also highlighted the importance of identifying champions, a custodian or convening organisations to maintain momentum and coordinate collective action. 

There is a link between financial wellbeing and health 

Many participants agreed there are opportunities to strengthen policy influence by positioning financial wellbeing within broader health and wellbeing frameworks, identifying links with physical health, mental health, child development, family wellbeing, social inclusion and long-term life outcomes. Participants also suggested connecting financial wellbeing more clearly with health and productivity policy priorities, rather than framing it solely as a financial capability issue. Sustained advocacy on improving public health models was raised as a constructive example of turning action into policy. 

Education matters, but isn’t enough on its own 

Participants strongly supported continued investment in financial education, starting early in schools, through to further education and adulthood, work and life, along with the role families and households play in shaping financial habits. However, there was broad agreement that education alone cannot solve financial literacy or wellbeing challenges. Many participants noted that income adequacy, affordability pressures and systemic barriers often have a greater influence on outcomes than financial knowledge alone, reinforcing the case for building confidence, judgement and decision-making skills as part of a wider ecosystem of support. 

Better data and measurement are needed 

Participants identified the opportunity to develop stronger measurement and evidence systems to support action, including consistent ways to define and track financial wellbeing over time. There was considerable interest in sharing data across sectors and using evidence to inform policy and investment decisions, noting that industry, government and community organisations all hold relevant data that could be better used to understand what works and where gaps remain. 

Equity and inclusion must be central to policy design 

Many stakeholders working in front line services emphasised that financial challenges are not experienced equally and often intersect with other issues. Discussions focused on the experiences of cohorts including First Nations people, women, people experiencing family and domestic violence, victim-survivors of economic abuse, culturally and linguistically diverse communities, low-income households, older Australians and people impacted by disasters and climate-related risks. A strong theme across these discussions is that policy responses need to recognise these different experiences and barriers, and that an intersectional lens is essential to the effectiveness of any future national approach. 

The role for government – turning evidence into action  

While participants broadly agreed on the need for reform, many raised concerns about how evidence can be translated into effective action. Recurring questions included how financial wellbeing can be elevated on government agendas, framing issues to resonate with policy makers, how costs and benefits could be demonstrated, and who should lead implementation. There was a shared view that the evidence base is growing, but meaningful change will require political leadership, sustained advocacy and practical implementation pathways. 

Implications for future action 

Overall, the sessions reinforced that strong cross-sector support is building for moving beyond individual-focused approaches towards a national, integrated financial wellbeing agenda. This is closely aligned with our Call to Action, which calls for the introduction of a national financial capability and wellbeing strategy, improved measurement and evidence systems, and stronger coordination across sectors. Prof Russel’s report, Australia’s financial wellbeing: an integrated approach, was viewed as a valuable foundation for this work, and all roundtable participants expressed a clear appetite for continued convening, collaboration and leadership to help drive meaningful change. 

We would like to thank all the participating individuals and organisations, including:  

• Alchemy Labs
• Anglicare Sydney
• ANZ
• ASIC
• ATO
• BSL
• Business Educators Australasia
• Consumer Action Law Centre
• Deakin University
• Essential Services Commission
• Financial Counselling Australia
• Financial Advice Association Australia (FAAA)
• Financial Basics Foundation
• Financial Rights Legal Centre
• Financial Wellbeing Collective
• First Nations Foundation
• Kit
• Megan Christie Money Coaching
• Money School
• Murdoch Children’s Research Institute
• Phil Lambert Consulting
• Redfern Legal Centre
• RMIT University
• Senator Richard Dowling, Labor Senator for Tasmania
• Super Consumers Australia
• Thriving Communities Australia
• Vanguard
• Wellbeing Research
• Westjustice
• WIRE

We look forward to continuing the conversation as these insights inform our ongoing policy, research and convening work, including the next stage of our joint action plan.