Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Growing consumer shift to savings mentality

Staff Reporter 1 minute read

Difficult economic conditions have prompted more households to recognise the importance of building personal savings.

The Melbourne Institute’s December Household Saving and Investment Report, released today, showed the proportion of households saving for unexpected expenses increased substantially over the past year.

Professor Guay Lim from the Melbourne Institute said saving for a ‘rainy day’ is now very high on people’s list of priorities, with 48.1 per cent of households citing this as a reason for saving

This was “significantly up from 40 per cent last quarter and 26.2 per cent a year ago,” he said.

 

Advertisement
Advertisement
Growing consumer shift to savings mentality
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
court gavel ta Court rules against bank for ‘unfair’ loan terms

The Federal Court has declared a number of loan contracts entered...

APRA RBA ta RBA, APRA sing different tune on serviceability buffers

APRA chair Wayne Byres has dismissed the need for a cut to the bu...

loanapplication Remodelled FHB scheme cops backlash

From 1 July, all applications for the FHLDS will require a Notice...

FROM THE WEB