Australians are increasingly anxious as financial stress intensifies.

A number of factors have contributed to increased consumer anxiety and decreased consumer spending. The number of Australians who have experienced financial hardship over the past quarter has risen to 40% – and debt, slow income growth and decreased household wealth have lead to people spending less on non-essentials. “Anxiety increased most over the cost of living, and despite a healthy labour market, concerns over jobsecurity also climbed to its highest level since mid-2016”, said Alan Oster, Chief Economist at the NAB. In terms of householdfinances, retirement remains the big worry, followed by providing for the family’s future, raising $2,000 for an emergency, and medical and healthcarecosts.” Read Business Insider’s article here: https://lnkd.in/fCw8ugS hashtagfinances financialstress financialwellness financialwellbeing australianeconomy debt retirement financialhardship money moneycoach

2020-03-08T08:05:04+08:00