26 March 2012, 260312, economy, finances, financial situation, money, personal finances, Personal financial situation, Polling, polls
Q, Over the next 12 months do you think your personal financial situation will get better, get worse or stay much the same?
|
28 Jun 10 |
18 Oct 10 |
4 April 11 |
4 Jul 11 |
3 Oct 11 |
26 Mar 12 |
Vote Labor |
Vote Lib/Nat |
Vote Greens |
|
| Total better |
29% |
33% |
32% |
28% |
24% |
28% |
34% |
25% |
36% |
| Total worse |
31% |
29% |
31% |
36% |
41% |
37% |
29% |
42% |
34% |
| Get a lot better |
5% |
6% |
7% |
5% |
4% |
5% |
5% |
4% |
14% |
| Get a little better |
24% |
27% |
25% |
23% |
20% |
23% |
29% |
21% |
22% |
| Get a little worse |
21% |
21% |
22% |
23% |
27% |
27% |
22% |
30% |
27% |
| Get a lot worse |
10% |
8% |
9% |
13% |
14% |
10% |
7% |
12% |
7% |
| Stay much the same |
37% |
32% |
32% |
32% |
32% |
29% |
32% |
31% |
25% |
| No opinion |
4% |
5% |
5% |
3% |
3% |
5% |
5% |
2% |
5% |
28% (up 4% since October last year) of respondents believe that their personal financial situation will get better in the next 12 months and 37% worse (down 4%). 29% (down 3%) expect it to stay much the same. However, these results are very similar to those of July 2011.
Greens voters (36% better) and Labor voters (34%) are the most likely to believe that their personal financial situation will get better over the next 12 months, whereas Coalition voters are the most likely to believe that theirs will get worse (42%).
People on lower incomes were more pessimistic about their personal financial outlook – those earning under $600 per week split 22% better/49% worse – compared to those earning more than $1,600pw who split 36%better/30% worse.
26 March 2012, 260312, Australian dollar, Australian economy, construction, economy, Farming & Grazing, Finance, finances, industries, industry, manufacturing, mining, Polling, polls, Retail, tourism
Q. The Australian dollar is now at $1.05 US and has been historically higher than the normal range of 60c-80c US. Is the high Australian dollar good or bad for the following industries?
|
Total good |
Total bad |
Very good |
Good |
Neither good nor bad |
Bad |
Very bad |
Don’t know |
|
| Mining industry |
29% |
29% |
10% |
19% |
20% |
24% |
5% |
22% |
| Farming & Grazing Industry |
16% |
49% |
4% |
12% |
16% |
36% |
13% |
19% |
| Finance Industry |
38% |
15% |
9% |
29% |
25% |
12% |
3% |
21% |
| Construction Industry |
24% |
26% |
4% |
20% |
28% |
22% |
4% |
23% |
| Manufacturing industry |
15% |
50% |
3% |
12% |
14% |
29% |
21% |
20% |
| Retail Industry |
23% |
47% |
6% |
17% |
14% |
30% |
17% |
16% |
| Australian Tourism Industry |
20% |
56% |
8% |
12% |
10% |
31% |
25% |
14% |
Overall, respondents think that the high Australian dollar has only been good for the finance industry (38% good/15% bad).
They believe that it has been particularly bad for the tourism industry (20% good/56% bad), the manufacturing industry (15%/50%), the farming and grazing industry (16%/49%) and the retail industry (23%/47%)
On the mining industry, they were split 29% good/29% bad.
26 March 2012, 260312, Australian dollar, Australian economy, economy, finances, high dollar, mining, Mining Boom, Polling, polls
Q. Has the mining boom and the high dollar been good or bad for –
|
Total good |
Total bad |
Very good |
Good |
Neither good nor bad |
Bad |
Very bad |
Don’t know |
|
| The economy generally |
52% |
12% |
11% |
41% |
22% |
10% |
2% |
15% |
| Jobs generally |
42% |
18% |
8% |
34% |
26% |
15% |
3% |
14% |
| You personally |
23% |
10% |
5% |
18% |
55% |
8% |
2% |
10% |
A majority (52%) think that the mining boom and the high dollar has been good for the economy and are more likely to think it has been good for jobs (42% good/18% bad).
61% of Labor voters, 53% of Greens voters and 51% of Coalition voters think it has been good for the economy.
55% think it has been neither good nor bad for them personally. For those on incomes over $1,600pw, 32% think it has been good for them personally and 9% bad.
12 March 2012, 120312, annual income, Australian society, class, finances, income, Polling, polls, Social Class, society, wealthy, well off
Q. What annual income level would you say was the minimum to be “well off” for a single person?
What annual income level would you say was the minimum to be “well off” for a family of 2 parents and 2 children?
|
Single Person |
Family |
|||||||
|
Total |
Income under $1,000pw |
Income $1,000 – $1,600pw |
Income $1,600+ |
Total |
Income under $1,000pw |
Income $1,000 – $1,600pw |
Income $1,600+ |
|
| $40,000 |
9% |
15% |
7% |
5% |
1% |
2% |
* |
1% |
| $60,000 |
26% |
28% |
31% |
23% |
6% |
13% |
5% |
2% |
| $80,000 |
28% |
25% |
27% |
33% |
15% |
21% |
17% |
10% |
| $100,000 |
19% |
15% |
20% |
24% |
17% |
19% |
19% |
15% |
| $120,000 |
7% |
5% |
6% |
9% |
16% |
12% |
19% |
17% |
| $150,000 |
3% |
3% |
3% |
5% |
21% |
16% |
18% |
29% |
| $200,000 |
1% |
* |
1% |
1% |
12% |
5% |
14% |
18% |
| $300,000 |
1% |
2% |
* |
1% |
3% |
3% |
2% |
5% |
| $500,000 |
* |
* |
1% |
– |
2% |
3% |
1% |
1% |
| $1 million |
1% |
1% |
– |
1% |
1% |
1% |
1% |
1% |
| Don’t know |
5% |
6% |
4% |
1% |
5% |
5% |
4% |
1% |
| median |
$69,000 |
$63,000 |
$67,000 |
$73,000 |
$111,000 |
$93,000 |
$107,000 |
$123,000 |
63% think that a single person earning $80,000 would be considered “well off”. The average (median) minimum income for a single person to be considered “well off” was $69,000.
55% think that a family earning $120,000 would be considered “well off”. The average (median) minimum income for a family to be considered “well off” was $111,000.
12 March 2012, 120312, annual income, class, finances, income, Polling, polls, society, wealth, wealthy
Q. What annual income level would you say was the minimum to be “wealthy” for a single person?
What annual income level would you say was the minimum to be “wealthy” for a family of 2 parents and 2 children?
|
Single Person |
Family |
|||||||
|
Total |
Income under $1,000pw |
Income $1,000 – $1,600pw |
Income $1,600+ |
Total |
Income under $1,000pw |
Income $1,000 – $1,600pw |
Income $1,600+ |
|
| $40,000 |
2% |
3% |
1% |
– |
1% |
1% |
– |
– |
| $60,000 |
6% |
10% |
4% |
6% |
2% |
2% |
3% |
* |
| $80,000 |
15% |
17% |
20% |
10% |
4% |
7% |
3% |
2% |
| $100,000 |
21% |
19% |
25% |
23% |
9% |
13% |
10% |
5% |
| $120,000 |
14% |
11% |
15% |
17% |
9% |
10% |
13% |
6% |
| $150,000 |
17% |
18% |
13% |
22% |
19% |
17% |
22% |
20% |
| $200,000 |
10% |
8% |
10% |
11% |
22% |
20% |
16% |
32% |
| $300,000 |
4% |
3% |
4% |
4% |
15% |
10% |
15% |
19% |
| $500,000 |
4% |
3% |
6% |
3% |
9% |
9% |
11% |
7% |
| $1 million |
3% |
3% |
1% |
3% |
5% |
4% |
4% |
7% |
| Don’t know |
5% |
4% |
2% |
1% |
5% |
5% |
3% |
1% |
| median |
$106,000 |
$102,000 |
$98,000 |
$113,000 |
$159,000 |
$146,000 |
$147,000 |
$182,000 |
58% think that a single person earning $120,000 would be considered “wealthy”. The average (median) minimum income for a single person to be considered “wealthy” was $106,000.
66% think that a family earning $200,000 would be considered “wealthy”. The average (median) minimum income for a family to be considered “wealthy” was $159,000.
finances, mortgage, mortgage payments, personal finances, Saving, saving less, saving more
Q. Compared to 12 months ago, are you saving more, saving less or saving about the same? (note – saving includes paying off your mortgage)
| Total | Men | Women | Aged 18-34 | Aged 35-54 | Aged 55+ | Work full time | Work part time | Don’t work | |
| Total saving more | 28% | 26% | 29% | 41% | 26% | 19% | 35% | 27% | 21% |
| Total saving less | 33% | 34% | 31% | 27% | 31% | 40% | 30% | 28% | 40% |
| Saving a lot more | 7% | 6% | 7% | 13% | 5% | 4% | 10% | 4% | 5% |
| Saving a little more | 21% | 20% | 22% | 28% | 21% | 15% | 25% | 23% | 16% |
| About the same | 37% | 38% | 36% | 28% | 42% | 40% | 34% | 44% | 37% |
| Saving a little less | 17% | 18% | 16% | 17% | 14% | 20% | 17% | 12% | 20% |
| Saving a lot less | 16% | 16% | 17% | 10% | 17% | 20% | 13% | 16% | 20% |
| Don’t know | 2% | 2% | 1% | 3% | 1% | 1% | 1% | 1% | 2% |
28% of respondents say they are saving more than they were 12 months ago and 33% are saving less – 37% are saving about the same.
Those aged under 35 tend to be saving more (41% more/27% less) while those aged 55+ are saving less (19% more/40% less).
There is a strong relationship with work status. 35% of those in fulltime work are saving more, 44% of those in part-time work are saving about the same and 40% of those not working are saving less.
Entertainment, finances, Food and groceries, Gas and electricity, internet services, personal spending, Retail, Retail products, Spending, Telephone
Q. Compared to 12 months ago, are you spending more or less on the following –
| Total spending more | Total spending less | Spending a lot more | Spending a little more | Spending about the same | Spending a little less | Spending a lot less | Don’t know | |
| Food and groceries | 60% | 10% | 20% | 40% | 30% | 7% | 3% | 1% |
| Gas and electricity | 70% | 9% | 36% | 34% | 20% | 5% | 4% | 1% |
| Telephone and internet services | 38% | 11% | 11% | 27% | 49% | 9% | 2% | 1% |
| Entertainment such as cinemas and restaurants | 20% | 39% | 5% | 15% | 38% | 20% | 19% | 3% |
| Retail products such as clothing and electrical goods | 20% | 38% | 5% | 15% | 41% | 22% | 16% | 1% |
70% say they are spending more on gas and electricity and 60% say they are spending more on food and groceries. But they were more likely to be spending less on entertainment (20% more/39% less) and other retail products (20% more/38% less).
Perceptions of spending on food and groceries is similar across demographic groups. However, older respondents are more likely to say they are spending more on gas and electricity (80% of those aged 55+) and less on entertainment (46% of those aged 55+). For those aged under 35, 28% are spending more on entertainment and 34% less.
There is a similar pattern for spending on retail products – for those aged under 35, 27% are spending more and 32% less while for those aged 55+, 15% are spending more and 44% less.
Christmas, Christmas spending, credit, Credit Card Debt, Credit Cards, credit rating, debt, finances, income
Q. How much of your Christmas spending do you put on your credit cards?
| All or most of it | 23% |
| A bit more than half | 7% |
| About half | 9% |
| A bit less than half | 5% |
| Not much | 17% |
| None of it | 37% |
| Don’t know | 3% |
39% say they will put at least half their Christmas spending on credit cards – and a further 22% will put some spending on their credit cards.
Those most likely to use credit cards for at least half their spending were aged 25-34 (49%) and those least likely to use credit cards for Christmas spending were aged 18-24 (22%). Those on higher incomes were much more likely to use their credit cards for Christmas spending – 54% of those on incomes over $1,600pw said they would put at least half on credit cards compared to only 18% of those on incomes under $600pw.
41% of those who say they are very concerned about their level of credit card debt and 54% of those who are somewhat concerned say they will put at least half their Christmas spending on credit cards.