Shocking facts about financial health of Australian households

Recently, I came across an eye-opening report from ME Bank (2014), which focuses on the financial health of the Australians households. The following are the shocking/depressing finding from the report:
  • Only 46 per cent of households reported the ability to save each month, while 42% were breaking even and 12% were overspending.
  • Only 32 per cent would easily be able to raise $3,000 in an emergency;
  • 50 per cent aren’t confident they have enough savings to last if unemployed for three months;
  • 35 per cent reported having less than $1,000 cash on hand;
  • 17 per cent have less than $100 in savings;
  • 60 per cent have less than $10,000 in savings; and
Quite shocking! Isn't it? What about you? How are you coping? Where do you fall?

Like always, would love to hear your thoughts and opinions!

Link: Me Bank full report

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