How Financially Responsible Is The Average Australian? [Infographic]

Image: djgunner / iStockphoto

Most Australians consider themselves financially responsible when it comes to paying bills and sticking with a budget. But are we really that good with our money? Credit data analytics company Veda has released its latest findings on this matter and worked out the average credit score for different generational groups.

The Veda Australia Credit Score combines an analysis of more than two million credit scores with the consumer research of 1000 Australians to find out the money habits of consumers. It showed the average VedaScore for Australians is 757, which is considered a good score.

Unsurprisingly, Millennials scored lower in general, with an average VedaScore of 712; this is the only age group to score below the national average.

You can find out more in the infographic below.

Image: Veda

Comments

    I don't put much trust in veda scores, apparently i'm a high risk of default in the next 12 months despite being completely debt free, have healthy savings and a stable job.

    I have been at this state for the last 3 years, no defaults,bad items or missed payments on my credit report either, go figure.

      I totally understand this one, apparently single woman in their mid twenties, working full time is a high risk home loan?

    Credit card debt:
    With around $32 billion owing, that's an average of around $4,300 per card holder.That quote is from ASIC's Moneysmart web site.
    I don't consider maxing out your credit card to be 'financially responsible' but a lot of folks seem to think it's the way to go. They must enjoy paying the 18% (+/-) interest rate the banks whack them with.

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