Financial Outcomes in Adolescence and Early Adulthood in Australian Longitudinal Data

Haisken‐DeNew, John P.; Ribar, David C.; Ryan, Chris; Wong, Clement

doi:10.2139/ssrn.3516326

Cited by 1 publication

(1 citation statement)

References 24 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…A survey led by the Australia and New Zealand Banking Group (ANZ Bank 2018) showed that individuals improve their overall financial wellbeing when they actively save and avoid borrowing. Haisken-DeNew et al (2019) presented three categories of young Australians and separately define financial wellbeing for each category. Their categories of young Australians include children, adolescents, and emerging adults.…”

Section: Financial Wellbeing In the Australian Contextmentioning

confidence: 99%

Australians’ Financial Wellbeing and Household Debt: A Panel Analysis

Tahir

Ahmed

2021

JRFM

View full text Add to dashboard Cite

“An excess of everything is bad”. This famous old proverb fits well with the current condition of Australian household debt that is continuously rising. Research in Australia’s household indebtedness is scarce and strategies to control the rising household debt remain contentious. The government of Australia has introduced financial literacy and financial capability measures to help control the rising household debt. Given that the literature highlights the importance of improving financial wellbeing, we analyse if financial wellbeing is a factor, which could be relevant to the reduced household debt. We use the Household, Income and Labour Dynamics in Australia panel survey in our analysis and find that improved financial wellbeing is associated with the reduced debt-taking behaviour of Australians. Our robust analysis confirms our findings. Finally, our empirical results suggest that improving households’ perception of their personal financial situation can bring improvement in their financial decisions, including the decision to take on debt.

show abstract

Section: Financial Wellbeing In the Australian Contextmentioning

confidence: 99%