More older people having money problems

When it comes to money, older doesn't necessarily mean wiser.

New figures show that in 2014, 47 per cent of insolvent debtors were aged between 35 and 49, down from 56 per cent in 2008, but with the most common age for an insolvent rising from 41 to 47 years.

The proportion of insolvent debtors aged between 50 and 64 years also increased from 24 per cent in 2008 to 35 per cent in 2014, the Australian Financial Security Authority says.