Tracy earns the average salary for a woman in Australia of approximately $80,000. She had gone back to study as a mature-aged student in 2014 – hoping to make a career change. She has been paying off a mortgage on a unit for 20 years and has about 50% equity.
“I know I’m in a really fortunate position compared to a lot of people,” Tracy says. “Having said that, I do pay pretty much half my take-home pay to service my mortgage and all the costs associated with the unit complex, in an attempt to pay it all off before I retire.” She has had to bring in a boarder to help manage the day-to-day costs of living.
The gender dynamics of the debt burden are complex. There are significantly more women than men with Help debts, however, men tend to accumulate higher debts. In 2020-21, the most recent year where data is available, more women than men in every age bracket have a debt, with twice as many female debtors as men among 40 to 49 and 50 to 59-year-olds.
Katherine worked for a couple of years between studying and then took five years away from the workforce to have children.
Oh well get a socond job and pay them off lije the sensible people. Problem is people expect these days.
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Source: GuardianAus - 🏆 1. / 98 Read more »