Property investment among top money mistakes

Comments 1
Shares 13

Losing money on property investment is the second biggest money mistake Australians make, according to new research.

A survey has revealed that property investment losses affect approximately 1.27 million Aussies, costing them an average of $106,104 per person. The estimated national loss from property investment is $135 billion.

Divorce or separation was cited as Australians’ biggest money mistake, affecting 1.4 million of the population and costing an average of $144,774 per person. The estimated national cost is $196 billion.

Gambling, having children and letting a partner control the finances made up the top five money mistakes.

Overall, 47 per cent of Australians admitted to making a costly money mistake, with a total national loss of $753 billion.

Bessie Hassan, consumer advocate at, said the statistics are “worrying”.

“Most of these mistakes are irreversible and those responsible are left with tens if not hundreds of thousands of dollars to mop up,” she said.

[Related: Aussies avoiding money talk]

Promoted Stories
Recommended by Spike Native Network
more from the adviser
ASIC scrutinises 'licensees of last resort'

The corporate regulator has said it is conducting a surveillance ...

5 tips for owners to save on home loans

With the new financial year approaching soon, it’s important th...

Lenders pull LVR lever on investors

Following AMP’s decision to reduce LVRs on investor loans, a se...