Invest
Aussie confidence in dire state on financial, property fronts
Australians may have rising disposable incomes but they are increasingly feeling financially insecure and stressed, overwhelmingly due to just one factor.
Aussie confidence in dire state on financial, property fronts
Australians may have rising disposable incomes but they are increasingly feeling financially insecure and stressed, overwhelmingly due to just one factor.
According to the AMP Wellness report, less than half of Australians feel confident about their finances.
“Despite the increase in disposable income, financial stress has still increased because people are worried about primarily bad debt and saving for retirement,” AMP corporate superannuation director Vicki Doyle told nestegg.com.au
The report found that less than half of those surveyed reported feeling confident about their finances, while more than a quarter of workers, or the equivalent of 2.8 million people, felt stressed.
“The main reason for financial stress was due to mortgages and mortgage and debt. Interestingly, if you consider that the most stressed areas are Brisbane, Adelaide and Perth, there have been a lot of property changes in those markets,” Ms Doyle said.
In those cities, nearly one in three reported feeling the financial pinch above the national average, while freelancers, single parents, low-income earners and females were the most at-risk groups.
“It’s still managing budget and savings, making ends meet, debt management and saving for retirement are still issues people are very worried about,” Ms Doyle said.
“Of the main triggers of financial stress for Australians, 50 per cent attributed their stress to debt, 43 per cent to not being able to achieve goals and 35 per cent to not having enough to live a comfortable retirement.”
With stressed employees taking four additional sick days per year than their co-workers, AMP estimates that lost productivity due to financial stress costs the country $47.2 billion every year.
However, when it comes to remaining calm, the research said the best course of action was “simple but difficult to do”, Ms Doyle said.
“Set a goal, track the goal and plan to achieve the goal.”
Property
RBA’s 30% property growth forecast to materialise in 75% of regions
Experts believe that RBA’s forecasted 30 per cent growth in property prices over the next three years will materialise in 75 per cent of Aussie regions. ...Read more
Property
HomeBuilder applications soar as first-timers enter the market in record numbers
Record numbers of first home buyers are coming into the market assisted by the government’s HomeBuilder stimulus, which is expected to help spur $50 billion in economic activity. ...Read more
Property
Dual Occupancy Homes – Why They Are A Smart Investment In The Current Market
Promoted by Metricon ...Read more
Property
4 factors affecting property market trends in 2021
Following a tough 2020, property investment activity is expected to rebound strong, expanding by 50 per cent in the second half of 2021. ...Read more
Property
House prices tipped to surge 30% on the back of cheap money
According to new documents released from the Reserve Bank of Australia, persistently low interest rates could push up property prices by as much as 30 per cent. ...Read more
Property
Double-digit price growth to stick around as ‘property boom’ arrives
According to leading indicators, Australia’s property boom officially began in November, following several slow months on the back of the COVID crisis, with double-digit price growth already logged ...Read more
Property
How to turn your ‘costly’ lifestyle investment into a money-making asset
Emotionally driven holiday home buyers are being advised to seek maximum rental income and depreciation benefits to make their investments viable. ...Read more
Property
Dutch e-commerce giant VidaXL ramping up Australian operations
Netherlands-based online retailer VidaXL is ramping up its operations in Australia, by launching the build of a brand new 81,000 sq m national distribution centre in Melbourne. ...Read more
Property
RBA’s 30% property growth forecast to materialise in 75% of regions
Experts believe that RBA’s forecasted 30 per cent growth in property prices over the next three years will materialise in 75 per cent of Aussie regions. ...Read more
Property
HomeBuilder applications soar as first-timers enter the market in record numbers
Record numbers of first home buyers are coming into the market assisted by the government’s HomeBuilder stimulus, which is expected to help spur $50 billion in economic activity. ...Read more
Property
Dual Occupancy Homes – Why They Are A Smart Investment In The Current Market
Promoted by Metricon ...Read more
Property
4 factors affecting property market trends in 2021
Following a tough 2020, property investment activity is expected to rebound strong, expanding by 50 per cent in the second half of 2021. ...Read more
Property
House prices tipped to surge 30% on the back of cheap money
According to new documents released from the Reserve Bank of Australia, persistently low interest rates could push up property prices by as much as 30 per cent. ...Read more
Property
Double-digit price growth to stick around as ‘property boom’ arrives
According to leading indicators, Australia’s property boom officially began in November, following several slow months on the back of the COVID crisis, with double-digit price growth already logged ...Read more
Property
How to turn your ‘costly’ lifestyle investment into a money-making asset
Emotionally driven holiday home buyers are being advised to seek maximum rental income and depreciation benefits to make their investments viable. ...Read more
Property
Dutch e-commerce giant VidaXL ramping up Australian operations
Netherlands-based online retailer VidaXL is ramping up its operations in Australia, by launching the build of a brand new 81,000 sq m national distribution centre in Melbourne. ...Read more
More articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
