How "average" are you?

Economic analysts say based on financial statistics, the "average" Australian faces home loan stress, rising debt and dwindling pensions savings.

News.com.au states that according to the number crunchers, the average Aussie has a house valued at $458,488 and earns a weekly wage of $1,124.50.

However, according to the Australian Finance Group, with interest rates currently pegged at 7.25 per cent by the Reserve Bank - with many lenders charging extra points on top of this rate for home loans - consumers earning this amount would struggle to repay the nation's average 30-year mortgage of $341,000.

Overall, the organisation said, it would eat up some 59 per cent of their income - or 30 per cent of the combined income of the average couple.

On top of home loan stress, our average Aussie also faces rising consumer debt, the site said. Reserve Bank statistics put combined credit card debt at $43 billion - or $3,085 each.

Carrying this average debt, consumers of the median wage with an interest rate of 15.5 per cent on their credit card would need to pay $150 a month in order to clear it within two years.

The strain on "average" finances does not end there, however.

Retirement savings are another area where the averages do not look good for consumers. Most Australians use a balanced superannuation fund, which spreads investments over a number of stocks and assets, to build their retirement nest egg.

The average pay-out for men retiring this year is now $155,000, the site said, while women will receive an average of $73,000.

Yet estimates from Westpac and the Association of Superannuation Funds of Australia say the average single person needs $36,607 a year for a "comfortable" retirement - over half the payout for women.

According to Commonwealth Securities, the average private wealth of Australians rose by $21,700 this year to $250,000.

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