The National Australia Bank's 'Financial Freedom Survey' has put a number on how much money Australians need to significantly improve their lives forever.

In a survey of 2,000 Australians, the 'magic number' came out as $830,000 - up from $760,000 last year.

But the results varied significantly from state to state, and gender, income, where you live, and relationship status also had a significant impact on how much money people felt they needed.

Australians living in cities needed on average $950,000, whereas those living in regional areas felt they needed only $615,000.

Those living in NSW felt they needed the most - $1 million - while those in Tasmania felt they needed the least - $337,000.                        

Source: NAB Financial Freedom Report.

Results also varied for how people would spend the money.

One third said they would pay down debt, while 1 per cent said they would spend the money frivolously.

Source: NAB Financial Freedom Report.

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