Tax cuts for low and middle income Australians are welcomed, but only increase the need for more incentives and Government support for working Australian families to save, says consulting, outsourcing and investment consultancy Mercer.

Targeting non-deductible debt is a sound and effective technique in the fight against financial stress.

Yet more signs emerged last week to indicate Australia's economy is slowing. On Monday, 31 March, The Age reported Melbourne's auction clearance rates had fallen to 63 per cent, down from between 80 - 90 per cent last year. It looks like Australians are tightening their belts.

Here's a thought:

Your financial literacy levels can shape the decisions you make as an investor, superannuation member and an employee - and may ultimately mould the kind of retirement you can expect.

Did you max out your credit card over Christmas? Don't panic, there are ways to take control of your debt.

Credit cards are convenient. They give you access to cash in emergencies, let you take delivery of large purchases straight away and may earn you reward points for goods and services. However, plastic isn't always fantastic.

If you expect to receive an Age Pension increase in September, or to become eligible to receive an Age Pension for the first time, consider strategies that could benefit your children or wider family.