Almost one in two Australians say they live ‘pay-cheque to pay-cheque’

Australians are ‘perplexed’ about their finances, says one financial guru.

A recent report from wealth management firm MLC discovered 48 per cent of people said they lived ‘pay-cheque to pay-cheque.’

But Tom Elliott said he wasn’t surprised, given the cost of living.

Lara Bourguignon from MLC said a number of interesting things came to light during the study.

‘Almost one in two also said you need to earn $150,000 a year to live comfortably,’ she explained on 3AW Drive.

‘And 88 per cent said being worth a million dollars doesn’t make you rich in Australia today.

‘On the other hand, 85 per cent said we’re living beyond our means and quite a large number also wanted to retire early and maintain their standard of living in retirement.’

Click PLAY below to hear more on 3AW Drive.