The MONEY-GO- ROUND

Many people are finding it increasingly difficult to juggle their dollars and cents, mostly due to the rising cost of living. Credit card debt is adding to financial stresses and strains with the Australian Securities & Investments Commission finding one in six people with a credit card are in a “debt trap”. Australians owe at least $45 billion on their cards.

The Centre for Social Impact and NAB have also highlighted how many of us are losing our “financial resilience” – the ability to draw on adequate finances and support when an unexpected expense occurs. The CSI report last year found one in eight people experienced severe or high financial stress in the past 12 months and found 14 percent have no savings.

“Finance is critical. Even if you’re not driven by money, it determines where you