News
Feeling Wealthy? Be Wary
Tuesday 16th of September 2003
Next thing, you find yourself thinking, "I should be able to afford a better car," or better clothes, appliances, holidays, a bach, or whatever.
Is that good thinking? Maybe not.
Economists call this the wealth effect. And there's been lots of talk about it lately.
Household net worth - assets minus debts - grew 10 per cent in the last year, the highest increase in a decade, says the Westpac Household Savings Indicators survey.
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