I read a disturbing research report recently from researchers at the University of Melbourne that reminded me of some very frightening stats. Almost 1 in 2 Australians have less than three months income saved. And almost 1 in 3 have less that one months’ income saved.
Not to mention that 1 in 7 have no savings at all. Basically, the majority of Australians are one or two hard luck stories away from financial disaster. Which are not new statistics. In fact, we here at No More Practice Education have been banging on about the looming economic tsunami for some time now.
But I have to wonder, how far has all the legislative change and uncertainty set advisers back from helping in this grave situation? The report cites that one of the most effective solutions for people in financial risk is FREE financial counselling.
Now it’s a very good cause, and I
Did you know, almost 1 in 2 Australians have less than three months income saved.