Thursday, April 28, 2011

Rich people not worried about utility rates going up, show figures

A recent study done by the Australian Bureau of Statistics has shown that the rich and well to do are not the slightest bit worried about rising utility rates. Figures compiled in the study done by the bureau have shown that out of all people interviewed in the survey, the 43% who said they were not worried about rising utility rates all had a lot of money.

Toffee Nose Financial Services chairman Michael O'Brien has said that the figures also astonishingly showed that people who are struggling financially, and are already having trouble keeping up with bills, will still find themselves in a position where they're unable to keep up with bills, except in a worse off position. "I'm really taken aback by the findings of this research", said Mr O'Brien.

Experts have said that this research suggests that there is a possibility that people with a lot of money don't struggle to keep up with paying the bills and keeping a roof over their heads, whereas people with not much money might.

"What we have discovered is that in order for bills and rent/mortgage to be paid, it requires a financial transaction to be completed and a particular sum of money to be changing hands. People who happen to be in possession of that particular sum of money are 100% more likely to complete the transaction than people who aren't." Said ANZ chairman Clive P.Simmons.

People with money still able to pay bills

"The driving force behind this trend is generally people who don't have to break the bank to keep up with utility payments", according to Ten News financial correspondent Todd Maher.

"What the Bureau's research has shown, is that having more money readily available is a clear advantage when it comes to being able to live comfortably", he concluded.

The top 2% of Australian's who earn over $400,000 per year have been buoyed by the findings of the research, one exclaiming "Ha! cop that!". Another revealed, "Sorry? I can't hear you from up here, I'm joking, now run along peasant."

By Aron Micallef

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