How Australians save money
Have you ever wondered what it takes to be a successful
saver? Our infographic shows what Australians' savings goals
are, the top reasons people break financial resolutions, and the
techniques people use to reach their savings goals.
text version of this infographic (below)
How Australians save
money (accessible text version)
- Of those who make a savings resolution, 85% have a specific
target in mind.(1)
- Average savings target is $11,234(1).
Top 3 savings goals(1)
- 53% holiday
- 46% rainy day fund
- 40% buy or renovate a home.
Other top money goals(2)
- Build wealth for retirement
- Pay off debts
- Set up a budget
- Get debts under control
- Invest in shares, bonds or commodities
- Buy an investment property.
Top reasons people break financial
- 41%: Unexpected expenses or change in financial
- 27%: Lack of willpower
- 17%: Goal was unachievable.
How to become a successful saver
Tips and tricks people use to reach their savings
- 52%: Transfer spare funds to a savings account
- 21%: Set up auto transfers to a savings account
- 17%: Keep savings in an account they can't touch
- 15%: Build up funds in their transaction account
- 11%: Deposit into their home loan offset account.
Use the savings goals calculator to
reach your money goals
Westpac, Financial fitness a top priority in 2016; Australians
pledge to save $21 billion (January 2016)
ME Bank, Saving for a holiday or car are the top financial goals
for 2017 (December 2016).
* Note: Because this list does not include every technique
people use to save money (and some people may use more than one
technique), these figures do not add up to 100%.
Last updated: 07 Mar 2018