Digital Finance Analytics released some eye-opening statistics last week around mortgage stress in Australia current as June 2018. What shocked me was that “across Australia over 977,000 households are estimated to now be in mortgage stress (up from 966,0000 last month). This equates to 30.3% of owner occupied borrowing households. In addition, more than 22,000 of these are in severe stress” So, what is mortgage stress and severe stress? “Households are defined as “stressed”

Now is as good a time as any to review your current financial situation and put a plan in place for the next 12 months. Sorting out your finances doesn’t have to be complicated, as even small savings can add up over the year. Here are 10 tips to help you get started. 1. Write down your financial goals and current spending Make a note of where you’d like your finances to be this time next year. Now jot down your income and expenses for the last month. How much is left over? Ar