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Australians are, according to a survey by the National Australia Bank (NAB), feeling as glib as they did as when the pandemic began making headlines.
"Basically it's saying that wellbeing is getting down to previous lows," NAB's chief economist Alan Oster said.
"So people are still essentially very concerned about their life."
Thousands of Australians were asked by the NAB how satisfied they were with key aspects of their lives.
The federal government, and the economy, received the lowest levels of satisfaction.
Respondents also reported "relatively poor" levels of satisfaction with "the ability to fund retirement", "household income", and "overall financial position".
"It tells me people are still worried about how they're going to get through with [higher interest] rates," Mr Oster said.
"The economy is tough.
"They're still anxious."
Mr Oster says household financial stress is at its highest in eight years and given incomes are under increasing pressure, 80 per cent of Australians, the NAB says, are trying to save, rather than spend, money.
Indeed the NAB's survey finds roughly a third of taxpayers intend to pocket the cash they'll receive from the stage 3 tax cuts — which have been revised to include more relief for lower to middle income earners.
"At this stage there's a big impression out there that, because things are tough and I'm not happy, I'm not necessarily going to spend any new money that the government's given me," he said.
"I'm much more likely going to put a big emphasis on saving it.
"I think they're basically saying, 'look, it's tough'.
"I've got to put more money away either for rent, or I've got to put more money away for my mortgage, and I want to be able to react if something unexpected and bad happens to me."
Treasurer Jim Chalmers, ahead of next Tuesday's federal budget, says he's acutely aware of the financial pressure Australians are under.
"There will be cost-of-living relief in the budget," Mr Chalmers says.
"The foundation stone of the cost-of-living relief in the budget is a tax cut for every Australian taxpayer.
"All 13.6 million Australian taxpayers will get a tax cut to help with the cost of living.
"The average tax cut will be something like $36 a week, but there will be additional help as well.
"There will be additional help for people on pension payments and fixed incomes.
"And there will be additional help for people who are doing it tough."
And there is some light at the end of the cost-of-living crisis tunnel, says Mr Oster, especially for mortgage borrowers.
"I think if the unemployment rate starts to go up, and we think it will get up to 4.5 per cent, compared to where it is currently at 3.8 per cent, I think they'll be cutting interest rates when [the RBA] sees the unemployment rate in the mid 4s.
"And for us that's at the end of this year."
And it seems, many Australians are feeling "physically" OK.
NAB survey respondents reported being "moderately satisfied" with their physical health, work-life balance, and their job.