Most Aussies comfortable with their debt situation

According to the latest ING DIRECT Financial Wellbeing Index, 49 per cent of Australians are paying off their mortgage sooner than they have to – the highest proportion since the Index was launched back in 2010.

The proportion of households that are “very comfortable” with their long-term debt situation has also hit its highest level, with 64 per cent of borrowers.

ING DIRECT’s executive director for delivery, Lisa Claes, said the Index shows we are paying down debt and building up savings, which is a very positive sign of overall financial wellbeing.

Source: The Adviser