Financial wellbeing at two-year high

by Caroline Dann17 Oct 2012

ING Direct's latest Financial Wellbeing Index shows confidence levels are at a two-year high, despite "well-publicised rises in living costs," said CEO Vaughn Richtor.

The quarterly report showed an index increase from 105.6 in the June quarter, to 109 in the September quarter.
"This is the highest Index reading since Q2 2010, and much of the increase in financial wellbeing can be attributed to ongoing efforts by Australian households to reduce debt and increase personal savings," said Mr Richtor. 
"As a guide, almost one in two (47%) households with a mortgage are ahead with their loan repayments and 63% of credit card holders are paying their card balance off in full each month."
Interestingly, the report also found roughly one-third of households would be willing to move interstate if it helped their financial situation.
Queensland was identified as the most popular destination, with the Northern Territory the least desirable.