Who wants to be a millionaire? Forget the game show and the song titles – the average Australian household now has more than a million dollars in net wealth. The trouble is we are becoming increasingly cash poor.
While the value of our homes has risen to the point where the average household can boast millionaire status – on paper at least – Deloitte Access Economists has found 37 per cent of households are concerned about their ability to pay their bills and household costs. It expects this number to increase to 40 per cent within two years.
A new report suggests if day-to-day living expenses increased, one in three Australian households would cut back on groceries. Photo: Louise Kennerley
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