Original article by Matt Bell
The Australian – Page: 16 : 9-Dec-24

Research from credit rating agency Equifax suggests that 39 per cent of Australians are experiencing financial stress. The Equifax survey has also found that about 50 per cent of Australians have reduced their discretionary spending in the last year, compared with 37 per cent in 2022. Some 50 per cent of respondents also said their biggest financial priority for 2025 is paying down debt or ceasing to live from one pay cycle to the next. Separate data from the Australian Financial Security Authority shows that the number of personal insolvencies increased by 6.4 per cent year-on-year in the September quarter.

CORPORATES
EQUIFAX INCORPORATED, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN FINANCIAL SECURITY AUTHORITY