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Wealth management platform Myprosperity has seen a 200% increase of debt recorded on its platform since the start of the year.
As more Australians are having conversations about their financesduring the COVID-19 pandemic, Myprosperity now tracks $12 billion worth of debt on its platform, with an 80% increase in credit card accounts added since late 2019.
Used by more than 35,000 households in Australia, the Myprosperity portal also tracksmore than $63 billion in assets.
Mypropserity founder Peter McCarthy said there’s growing concern over debt management.
“People are seeing the need to keep on top of their money during these tough times,” he said.
For households, weve seen a significant spike i…
Read the full article at: https://www.savings.com.au/savings-accounts/wealth-tracker-records-200-increase-in-debt-on-its-platform
