Essential Report

Financial situation

Aug 15, 2017

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-$1,000

pw

Income $1,000-$1,500 pw Income $1,500 – $2,000 pw Income $2,000+ pw   Oct 2014 Mar 2015 Feb 2016
I don’t have enough money for basic essentials like housing food and electricity 8%   6% 9% 21% 7% 8% 6% 4%   7% 8% 6%
I have enough money for basic essentials but I cannot save any money 40%   35% 31% 53% 46% 41% 34% 28%   35% 39% 35%
I have enough money for basic essentials and I can save a little money 42%   45% 50% 22% 40% 45% 53% 48%   47% 44% 49%
I have enough money for basic essentials and I can save a lot of money 7%   11% 7% 1% 2% 4% 5% 19%   8% 7% 8%
Don’t know 3%   3% 4% 3% 5% 2% 1% 1%   4% 2% 3%

 

42% say they have enough money for basic essentials and can save a little money and 40% say they have enough money for basic essentials but cannot save any money. Only 7% say they can save a lot of money.

 

Only 23% of those earning less than $600 pw say they can save any money – compared to 67% of those earning over $2,000 pw.

Overall, there has been a slight decline in financial situations since this question was asked in February last year – 48% (up 7%) say they cannot save any money and 49% (down 8%) say they can.

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