What Aussies really think about their finances

A recent Mortgage Choice survey uncovered how Australians feel about their finances, including home loans, credit cards and retirement planning.

1 in 5 Australians would not be comfortable asking their partner/spouse for money

Speaking about money is often considered taboo in modern society, but when you’re married or living with a partner, it’s a topic that should not be avoided. Money is often a cause of arguments in relationships, so it’s imperative that you and your partner talk regularly and openly about finances.

73% of Australians would not use a mortgage broker for anything other than a home loan

At Mortgage Choice, our brokers offer an array of services that extend beyond mortgages. They can assist you with car loans, personal loans, business loans, commercial loans, general insurance, and equipment finance and leasing.

3 in 5 Australians say they will not have enough money in retirement

For many Australians, retirement is not something they think about until they’re over 50, but by then, it’s often too late. According to the Association of Superannuation Funds of Australia, couples will need approximately $640,000 in savings, while singles will need approximately $545,000 in order to live a comfortable lifestyle in retirement. With such a large pool of money needed, it makes sense to start preparing as early as possible.

Posted in: Financial planning