Aussies 'are more confident about their finances'

Aussies are content with the state of their finances at the moment, a new study conducted by ING Direct has found.

The report indicated that overall confidence levels are at their highest point since the second quarter of 2010, while people with savings accounts were said to be the happiest they have been since the first quarter of the same year.

Almost half (47 per cent) of the survey respondents are ahead with their mortgage repayments and median outstanding credit card debt is at its lowest level for nearly three years.

Aussies have clearly been busy stashing money away for a rainy day, as the median savings pot now contains $9,735.

This study follows the release of figures by the Australian Bureau of Statistics which showed that personal loan uptake was down by 3.3 per cent in August when compared to the previous month.

Chief executive officer at ING Direct Vaughn Richtor said: "Households are saving more and reducing debt which is leading to greater confidence."

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