Easy street or hard yards? See how Australians are faring as at June 2016
The ME Household Financial Comfort Report provides in-depth insights into the financial psychology of Australians based on a survey of 1,500 households. The Report is published every six months and includes but is not limited to, the Household Financial Comfort Index, which measures ongoing changes to households’ perceptions of their own financial comfort.
Latest report – June 2016
- • ME’s overall Household Financial Comfort Index dropped significantly by 4% to 5.37 out of 10 in the six months to June 2016. This deterioration reverses the rise of the previous survey and takes overall comfort to slightly below the Index’s historical average.
- • Double the struggle to repay debt: Of the 65% of households with outstanding debt, 10% expect they won’t be able to meet minimum debt repayments in the next six to 12 months – a twofold increase since December 2015 and the highest since the survey began in late 2011.
- • Baby boomers rated themselves as the hardest hit: Perceived comfort with ‘income’, ‘cash savings’ and ‘net wealth’ deteriorated considerably, causing baby boomers’ comfort to fall the most of any generation (down 7%) to the lowest level for the past couple of years (5.42 out of 10).