Aussies comfortable with their debts and cards

According to ING Direct's latest Financial Wellbeing Index households are experiencing their highest level of financial wellbeing in almost four years.

Respondents to the ING Direct survey said they were taking advantage of low interest rates by maintaining their focus on reducing debt. People said they were more comfortable with their level of long-term debt (principally mortgages) and short-term debt, such as credit card balances.

Sixty-nine per cent of households said they were very comfortable with their mortgage, and 38 per cent said they were making extra repayments. Thirty-six per cent said they had no significant credit card debt.

Source: Banking Day