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Nearly 1 in 3 Australians say they're in financial distress, with cuts to JobSeeker and JobKeeper just weeks away


Nearly one in three Australians say they’re experiencing financial distress, according to the University of Melbourne.
The figures “suggest that not everyone is seeing the benefits of the economic upturn,” said report author Professor Guay Lim.
Nearly a quarter of respondents said they feel anxious or depressed most of the time.
The nation’s economic recovery from the coronavirus pandemic is ostensibly underway, but nearly one in three Australians say they’re experiencing financial distress, according to new survey results from the University of Melbourne.
The latest Taking the Pulse of the Nation results, revealed Monday, state some 31% of respondents now report difficulty paying for everyday essentials. ....

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How much Australians really have in their bank accounts in 2021 and how much you need to be rich


Finder, Canstar and ME Bank have all studied the savings rates of Australians
When it comes to being in the middle, $15,000 is the median bank savings level
Average was $28,772 based on dividing combined savings by number of people
Surprisingly, $100,000 plus was the most common level of savings in the bank
But a substantial proportion of Australians would struggle if they lost their job
Finance experts have revealed their savings, budget tips to Daily Mail Australia  ....

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Mortgage stress at three-year lows: research


Mortgage stress at 3-year lows: research
By Malavika Santhebennur
01 March 2021
Mortgage stress among households have dropped to the lowest level in three years, driven by a range of factors, according to figures from ME Bank.
The industry fund-owned bank’s
Household Financial Comfort Report has revealed that quantitative indicators of mortgage stress had decreased by five percentage points to 37 per cent during the past six months to December.
According to the bank, this is the lowest in three years since the survey began to collect this serviceability data.
The indicators of mortgage stress are measured by those households making loan payments of more than 30 per cent of their disposal income. ....

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