Australian want to reduce debt rather than spend
25 May 2009
Australians are most concerned about reducing their debt in the current economic climate when asked what aspect of their current financial situation they would change if they could, according to a new Ipsos Omnibus survey.
Almost a third (31 per cent) of people said that they would like to be free of all credit card debt. This was followed by 30 per cent of people who would like a raise of $10,000.
“More than anything else, Australians are aware of the traps of credit card debt, especially when they are anxious about job security and wage restraint,” Ipsos Mackay Director Dr Rebecca Huntley said.
“There was no age or generationally significant difference in the findings on this issue, however women, were more concerned about credit card debt than men.”
Ipsos Omnibus surveyed 1,054 people nationally and asked the question “If you could change one aspect of your current financial situation, what would it be?”
Only 9 per cent of people said they would like to reduce the interest rate on their mortgage by 0.5 per cent, while 12 per cent said they would like to have a better performing superannuation fund.
“The survey shows that Australians are relatively relaxed about interest rates, something we have also found in our syndicated Ipsos Mackay research. The big and lasting lesson consumers have taken away from the GFC relates to the dangers of easy credit, especially credit used to fuel retail spending,” Dr Huntley said.
“The survey was drawn from a representative sample of the Australian population aged eighteen years and over based on age, gender and location as per the ABS figures from 2006.
For further information contact:
Ipsos Australia
T: 02 9900 5100
E: enquiries@ipsos.com
About Ipsos
Ipsos is one of the world's leading survey-based marketing research firms. Founded and run by market research professionals, Ipsos interprets, simulates, and anticipates the needs and reactions of consumers, customers and citizens – locally, nationally and around the world. Ipsos has a direct presence in more than 60 countries and conducts research in more than 100.