New South Welshmen 'comfortable' about financial situation

by Julia Corderoy19 Nov 2014
A majority of New South Welshmen consider themselves to be “financially comfortable”, new research has revealed.

According to Mortgage Choice’s inaugural Happy As Index, 52.1% of those living in New South Wales are “comfortable” with their finances – significantly higher than the 27.9% of those who consider themselves to be “uncomfortable”. 

Mortgage Choice spokesperson Jessica Darnbrough said while it was pleasing to see that so many New South Welshmen consider themselves to be “financially comfortable”, it was also unsurprising given their commitment to saving money.

“When the NSW-based survey respondents were asked how much of their after tax income they had managed to save this year, more than 70% said they had saved at least some of their after tax income,” she said.

“In comparison, just 27.5% of respondents confessed to saving none of their income.”

The index also revealed that one in three New South Welshmen only worry about their finances when they have a “big financial commitment”. 

“On the flipside, just over 20% admitted to thinking about their finances on a ‘daily basis’,” Darnbrough said.

“While there is no denying that there are some New South Welshmen who are concerned about their financial situation and worry about their finances frequently, on the whole, those living in New South Wales consider themselves to be comfortable with their finances and happy with their lifestyle overall.”

When asked how happy they are with their current lifestyle, 55.1% said they consider themselves to be either “happy” or “extremely unhappy”, while just 15% said they are either “unhappy” or “very unhappy”.

Queensland proved to be the “happiest” state, with more than 63% stating that they are either “happy” or “very happy” with their current lifestyle.