Essential Report

Financial situation

Mar 31, 2015

Q. Which of the following statements best describes your financial situation?

  Total   Work full time Work part time Income less than $600 pw Income $600-$1,000pw Income $1,000-$1,600 pw Income $1,600+ pw   Oct 2014
I don’t have enough money for basic essentials like housing food and electricity 8% 5% 11% 20% 8% 6% 4% 7%
I have enough money for basic essentials but I cannot save any money 39% 37% 37% 51% 44% 36% 34% 35%
I have enough money for basic essentials and I can save a little money 44% 46% 45% 27% 43% 49% 50% 47%
I have enough money for basic essentials and I can save a lot of money 7% 10% 5% 2% 3% 8% 11% 8%
Don’t know 2% 2% 2% 2% 1% 1% 4%

44% say they have enough money for basic essentials and can save a little money and 39% say they have enough money for basic essentials but cannot save any money. Only 7% say they can save a lot of money.

Only 29% of those earning less than $600 pw say they can save any money – compared to 61% of those earning over $1,600 pw.

Overall, there has been a slight worsening in financial situations since this question was asked in October – 47% (up 5%) say they cannot save any money and 51% (down 4%) say they can.

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