首页 Skip to main content

Media centre

Page reading time: 2 minutes

Stay up-to-date with Moneysmart through our news and social media posts.

ASIC's Laura Higgins on financial capability

Moneysmart videos

Watch our videos

Money facts

Kids and money

Australian student saving, spending and financial access:

  • 81% of students have a bank account or a prepaid credit card
  • 52% of students earn money from working outside school hours
  • 57% of students regularly save money
  • 67% of students save money specifically to buy something if they don’t have enough money.

Source: .

Unclaimed money

  • $1.2 billion from dormant bank accounts, shares, investments and life insurance policies is waiting to be claimed.
  • Australians can do a free unclaimed money search on Moneysmart.
  • Money becomes unclaimed when a bank account hasn’t been used for 7 years and contains a balance of $500 or more.

Source: ASIC Annual Report 2018-19.

Credit cards

  • There are almost 16 million credit cards in Australia.
  • 1 in 6 Australians are struggling with credit card debt with $29.5 billion owing on credit cards accruing interest.
  • A credit card debt of $2,000 could take more than 12 years to pay off and cost around $2,150 in interest if the card holder only makes the minimum repayment.
  • Consumers could have saved $621 million in interest if they had a lower interest rate card (July 2016 – June 2017).
  • Consumers can use Moneysmart's credit card calculator to work out how long it will take to pay off their credit card debt.

Sources: RBA Nov 2018, ASIC July 2018.

Managing debt

  • 74% of Australian households hold debt and the average household debt is $168,600.
  • The most common form of debt is credit card debt, held by 55% of households, followed by 亚投彩票注册 loans (34%) and student loans (17%).
  • 77% of over-indebted households in Australia lacked sufficient ‘liquid‘ assets to cover a quarter of the value of their debts.

Source: ABS July 2018.

亚投彩票注册 loans

  • 70% of Australian households own or are purchasing their 亚投彩票注册.
  • 3.2 million Australians hold a mortgage over their primary residence.
  • The average owner-occupied mortgage is $384,700 and the average life of a mortgage is 25 years.

Sources: Census 2016, ABS 2017-18, ABS Nov 2018.

Top tools and calculators

Media enquiries

E: [email protected]

T:

Moneysmart social media

More information

ASIC's news centre

National Financial Capability Strategy