Young people today lived through the 2008 recession and its aftershocks. I can tell you now, the words ‘global financial crisis’ do not tend to build financial confidence. The numerous disparaging avocado toast editorials in the national press also tend to make young people collectively want to switch off.
A 2015 paper entitled the ‘Stressed Household Finance Landscape Report,’ indicates that ‘31.8% of households in Australia are financially stressed (financial stress is defined as not being able to meet financial commitments as they fall due).’ As levels of household debt in Australia continue to rise, we pose the questions in this Blog, ‘How many weeks worth of your regular, mandatory financial commitments do you have saved in an emergency fund that provides a savings buffer in case you fall upon hard times.
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