Almost half of Victorians “financially comfortable”: Mortgage Choice Happy As Index

The new Mortgage Choice Happy As Index has found that 49.4% of Victorians are comfortable with their finances, with 28.6% noting they are uncomfortable.

Just over 20% considered themselves “neutral” with their finances.

Mortgage Choice spokesperson Jessica Darnbrough said that it was a pleasing result, pointing to the number of those committed to saving their money.

“When Victorians were asked how much of their after tax income they had managed to save this year, more than 40% said they had saved more than 16% of their after tax income,” said Darnbrough.

A further 10.8% said that they saved 21% to 25% of their income.

Less than 25% noted that they hadn’t saved at all.

“The index found that almost 40% of Victorians only worry about their finances when they have a ‘big financial commitment’,” she said. A total of 20% said that they think about finances on a ‘daily basis’.

The majority, at 59.8%, said that they were happy or extremely happy with their current lifestyle. This was a result only beaten by Queenslanders, with 63% citing themselves as happy or very happy with their current lifestyle.