Tue Apr 05 14:28:47 WST 2011
The Financial Fitness Index tracks how ‘fiscally fit’ Australians are by measuring 14 vital signs, including housing costs, debt, savings, insurance & financial assets before reaching a rating of either:
According to research from Bankwest almost a third of Australians are financially unfit, an increase of 3% from this time last year. This is despite the fact that 48% of households have become more conservative with their spending compared to a year ago.
The 3rd annual Bankwest Financial Fitness Index has found 31% of Australians are classed as ‘financially unfit’ and have little or no savings, high housing costs relative to their income, inadequate insurance and few assets.
Download a copy of the full report and a breakdown on each state below:
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