Having loans and debts can be good for you

Having lots of loans, credit cards and debts does not necessarily mean you are in financial stress according to Reserve Bank researchers.

“The screening lenders carry out in assessing loan applications is broadly effective,” said the RBA.
Higher income and asset-rich households owe about 75 per cent of the debt in Australia.

Generally, the financial health of Australian households has improved since the year 2000.

Source: Banking Day

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