The Wire

We’ve survived the global financial crisis as a nation, but many Australian households have been hit hard. The latest Wesley Mission report on financial stress has found that more than a third of NSW households are experiencing financial stress. But not all of those households are low income, with a quarter earning more than $70,000 a year. The report found financial stress is not just caused by a lack of money, but a lack of financial literacy. It comes as the Reserve Bank meets tomorrow to decide on whether it will lift interest rates.