More than half of Australian consumers are concerned about their financial situation, new research has shown.
A survey by Mortgage Choice
has found 53.4% of Australians were either "very worried" or "concerned" about their financial situation. Company spokesperson Jessica Darnbrough said many consumers' money concerns stem from credit card debt, with 55.5% of Australians currently owing money on their credit cards.
"The Money Survey found that of those with credit card debt, 35.7% currently owe more than $5,000, while a further 10% owe between $4,000 and $5,000 on their credit card. Meanwhile, just 11% currently owe $500 or less."