More Australians are going into retirement with mortgage debt,leaving them with less to pay for living expenses and exposed to increases in interest rates.
In the list of property owners who collectively owe more than $130,000 is one who has never paid rates,the owner of a million-dollar home and a repeat offender.
Only 43 per cent of Australians are truthful when they talk to their loved ones about their spending habits.
Financial carelessness is directly proportional to the availability of debt,so of course we have a problem.
Australian households and the financial system are over exposed to an economic shock,the central bank has warned.
CBA customers are likely to take up offers to reduce repayments,without realising the long-term cost.
Telstra has been criticised by a consumer advocacy group over claims 21 Indigenous Australians were left with a total of $90,000 in debt.
Banks have been granting reverse mortgages that risk eroding retirees'wealth without checking how they'll afford future costs such as aged care,the corporate cop says.
A quarter of Australian households have less than $1000 in savings.
Bankruptcies are up 4 per cent for the year to June 30 this year over the previous financial year.
The one-way bet on housing is no longer such a sure thing.