Author Topic: Financial Stress indicators, Australia, 2010 - actual data on real people managi  (Read 1365 times)

Mark31

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I'm a data person so I find these types of surveys fascinating,....

Whether the numbers seem good or bad depends on your general disposition, I suppose

My highlights:

Even 70% of the poorest households could raise $2,000 in a week (probably through hitting up rellies), and 80% could pay their utility bills on time

However, 1 in 6 of middle income households had trouble paying their utility bills during the year, and more than 2/3 of households in any income bracket took some from of "dissaving" action.

Also, less than 2/3 of the highest income households paid more than the minimum amount on their credit cards
(I'm not sure how the survey dealt with people not using credit cards, although everyone seems to use them now to get those oh so special rewards points)

Surprisingly low proportions all round made extra contributions to superannuation, despite the kick-ass tax advantages (for higher incomes) or even more kick-ass co-contribution advantages (low incomes).



You can see some highlights here: http://www.abs.gov.au/ausstats/abs@.nsf/Products/4159.0~2010~Chapter~Financial+stress+and+income?OpenDocument

Or dig into the spreadsheet here (at the bottom):http://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/4159.02010?OpenDocument

deborah

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Interesting figures.

There can be quite an incentive for getting a credit card. For instance, a debit card from my "bank" costs $2 per month, while a credit card costs nothing. However, I can automatically get the credit card paid in full each month, so I use it as a debit card.