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Australian’s say goodbye to half their income

by Marquette Turner

in Money & Business

Three quarters of Australians are worried about their ability to pay their bills, as inflation remains at elevated levels, a survey by a consumer credit check company shows.

A phone poll commissioned by Veda Advantage showed that 75 per cent of respondents had debt repayment anxiety.

Price rises were a concern for 55 per cent of those polled, such as rising food and petrol costs, with one in two complaining about higher food prices.

More expensive health care was a concern for 44 per cent, with climbing mortgage and rent costs an issue for 37 per cent.

The study also found that 1.3 million Australians spend more than half their income on debt repayments, and 1.8 million Australians spend more than 40 per cent of their income on repayments.

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