Most NSW residents consider themselves to be “financially comfortable”, new research suggests.
According to mortgage brokerage Mortgage Choice’s inaugural Happy As Index, 52.1 per cent of those living in NSW are “comfortable” with their finances – significantly higher than the 27.9 per cent who consider themselves “uncomfortable”.
Jessica Darnbrough from Mortgage Choice said the results were unsurprising, given the state’s residents are committed to saving money.
“When the NSW-based survey respondents were asked how much of their after-tax income they had managed to save this year, more than 70 per cent said they had saved at least some,” she said.
“In comparison, just 27.5 per cent of respondents confessed to saving none of their income.”
Ms Darnbrough said while there was no denying that some NSW occupants were concerned about their financial situation, most are comfortable with their finances and happy with their lifestyle overall.
When asked how happy they are with their current lifestyle, 55.1 per cent said they consider themselves to be either "happy" or "extremely happy". Just 15 per cent said they are either "unhappy" with their lifestyle or "very unhappy".
“It stands to reason that if people are comfortable with their finances, they will tend to have a happier outlook on life and, looking across the states, NSW seems to be one of the happiest places to live and work,” Ms Darnbrough said.
“Queensland proved to be the 'happiest' state, with more than 63 per cent of those living in the Sunshine State stating they are either ‘happy’ or ‘very happy’ with their current lifestyle.”