ING Direct regularly conducts significant research into the Financial Wellbeing of Australian Households, and their latest, the Q3 ING DIRECT Financial Wellbeing Index, indicates that household comfort levels are improving.
The number of households who are ‘very comfortable’ with their mortgage or credit card debt (69% and 65% respectively) has increased. Whether this is a good thing or not is up for discussion. Given the rates of household debt in Australia are high by international standards ($151,488 per household in 2012), are Australian families becoming too accustomed to debt? How does that impact on their giving and stress levels? Is there a role for Not-For-Profits like the Seventh-day Adventist Church to provide some guidance and training to help households manage their finances?
The ING DIRECT report also reported that households are embracing the digital age, with 70% of households planning to do at least part of their Christmas shopping online. Interestingly, only 18% of Australian say they won’t shop online this Christmas.
As more and more Australians embrace online shopping, are your organisations equipped to welcome them?
The Avondale Business School can advise your organisation on being effective in these areas – find out how by contacting Warrick Long at the Avondale Business School.
P: 02 4980 2168