Millions of Aussies fear crippling economic crash by Christmas

A majority of Australians fear an economic crash before Christmas, as savings accounts shrink around the country.

A new Finder survey revealed 48 per cent of respondents thought a 2026 recession was “likely”, while a further 16 per cent said it was “certain”.

That’s 64 per cent of respondents - the equivalent of 13.7 million Australians - who are bracing for a major economic downturn in the next six months.

Meanwhile, separate Finder research showed 42 per cent of Australians had less than $1000 in savings.

Finder personal finance expert Sarah Megginson said Australians were stressed about the state of the economy.

“Families all over the country are feeling a big financial squeeze, and many are worried things will get worse before they improve,” she said.

“While a recession isn’t guaranteed, the fact that so many people expect one shows just how anxious they are.”

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Megginson said fears of a downturn were already changing consumer behaviour as households tightened their belts.

“Families are becoming more cautious about spending money and taking on new debt,” she said.

Finder’s research shows 15 per cent of Australians are unsure if a recession is looming, while almost 18 per cent believe one is unlikely.

Just 3 per cent of respondents think a recession “certainly won’t happen”.

Megginson said now was the time to reduce unnecessary expenses and prioritise building emergency savings.

“Economic uncertainty is scary, but taking a few proactive steps today can help you feel much more in control of whatever comes next,” she said.