Australians saving $463 a month

Australian savings will be boosted by an additional $100 each month come August 2010. This news bit has been made apparent by a survey of St.George Bank. According to the survey, the average Australian saves around $463 a month. Compared to last year’s figures this is a 10 per cent increase.

Australian savings to increase over the next 12 months:

Back in 2008 we saved around $421 a month. But with the economy making us wary, we are looking to save more money than ever helping us to overcome hard times and put money aside for essentials and holidays. The survey further revealed that Aussies are looking to save an additional 21 per cent each month which would increase our savings to $559.

Over 1,000 Australians were polled. 91 per cent of them said it is more important than ever to save money now. 94 per cent are keen to pay off their existing debt, and nearly eight in ten of the surveyed people (78 per cent) believe this shift in behavior to be permanent. The same group of people also believes that they will continue with this strategy once the global financial crisis is over.

Only a mere 13 per cent want to revert back to their old spending habits once the going gets better. Women are more money conscious than men by the look of things. A total of 78 per cent women are money conscious while seem less worried about their finances with 70 per cent.

Source: InfoChoice

How do you compare to those expected Australian savings figures? Are you actively saving money right now, or do you continue the same way you always have? Share your story in the comments!

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