There’s some make-or-break metrics that you need to know if you want to make your finances fly in the next financial year.
Despite the coronavirus-induced recession,credit scores have held up well but an early indicator of financial stress - buy now pay later repayments - are flying under the radar.
The truth is that the financial markets and economists have stopped caring about the august pronouncements of the three big American ratings agencies.
China is making swift advances with a system for measuring the social creditworthiness of companies,a sweeping data-collection effort that could solidify Beijing's control over foreign and domestic enterprises and possibly challenge the dominance of US credit-rating companies.
People who have deferred loans will not suffer a credit rating penalty for a further six months under new guidelines from the Australian Banking Association.
Credit scores are holding up for now as government financial support and mortgage repayment pauses mask the true repayment risk of people affected by the economic fallout from the pandemic.
It's now far easier to accidentally hurt your credit record,so tread carefully
Progress that lenders have made to make financial hardship processes smoother could be undone if a government push to allow arrangements to be listed on credit reports goes ahead
A new report used data from the Federal Court to show which creditors are actively seeking to make Australians bankrupt.
Many are often blissfully unaware about their credit score until they apply for a loan.
The rating increased from Aa2 to Aa1,one below Aaa,which the state lost in 2014.