Personal finance isn’t a very fun topic to discuss at dinner parties. However, consumers need to be financially literate if they are to thrive. The Choosi Dollar Report 2019 researched the spending habits of Australian citizens and their understanding of financial issues.
A number of important issues were highlighted in this report. The key points are listed below.
Are Australians Stressed About Money?
Australians have become more uneasy about their financial situations in recent years. The report shows that half of Australians experience concerns about their money on a weekly or even daily basis. The majority of Australians are unable to maintain the same standard of living, as inflation erodes the value of their paychecks. The survey showed that 62% of Australians said they were unable to keep up with cost of living increases. It also showed that 44.6% of Australians feel anxious about their debt at least most of the time, if not all of the time.