Survey: a third of us are embarrassed by our financial habits

Thirty-five per cent of Australians are embarrassed by their financial habits, a whitepaper has revealed. Australians’ attitudes to their financial behaviour shows us just how little in control many people feel about their finances, particularly debt and overall money habits.

Key findings of the study include:

  • Thirty-four per cent of respondents say they feel embarrassed by their personal debt

  • A third hide the fact that they are in debt

  • One-fifth say they only pay the minimum on their credit cards every month

  • Eleven per cent said they have not paid off their credit card in full for the past three months or more

  • Almost a third of those surveyed spend more than they earn

  • Nineteen per cent say they are ‘living secret financial lives’

  • Eighteen per cent save nothing from their pay packet

  • Twenty-six per cent set financial goals

  • Twenty per cent document these goals

Mortgage Choice and CoreData’s Financial Fitness Whitepaper is published annually.