Aussies are paying off their loans and debts

Aussies are getting better at paying off their debts. 42 per cent of Australians are now debt free – up from 40 per cent in the previous quarter according to the St. George-Melbourne Institute Household Financial Conditions report.

36 per cent (down 2 per cent) have a mortgage, 21 per cent have a loan other than a mortgage (down 0.5 per cent), 39 per cent have credit card debt (up 1.4 per cent), 16 per cent have a car loan or lease and 16.5 per cent have a university debt.

Source: Herald Sun